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Friday, May 13, 2011

Andover’s SeeWhy reports $917K round

By James M. Connolly

SeeWhy Inc., an Andover company that helps e-commerce websites keep customers from abandoning their orders, has taken in $667,000 of a $917,057 equity round, bringing its total funding since 2009.

Headed by CEO Scott Silk and Charles Nicholls, who is founder and chief strategy officer, the company says that it helps e-commerce firms retain customers, a large percentage of which leave a site, abandoning their shopping cart and not returning.

In a filing with the U.S. Securities and Exchange Commission, the company listed Silk and Nicholls as related persons, along with previous backer and director Dermot Berkery, a partner at Delta Partners of Dublin, Ireland, and Giles McNamee, managing director of investment banking firm McNamee Lawrence & Co. of Boston.

In December 2009, SeeWhy pulled in $2 million in an inside investment round from existing backers,  and in May of that year it reported a $4.5 million round.


 

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