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SeeWhy Inc., an Andover company that makes web marketing software designed to improve sales conversion rates for website visitors, has bumped up its most recent funding round to $800,000 of a planned $1 million financing, a federal document shows.
In May, See Why filed the initial funding announcement with the U.S. Securities and Exchange Commission. At that point, the company had taken in $667,000 of a $917,057 equity round. Just as in the first tranche, listed as related persons in this new filing are 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 raised $2 million in an inside investment round from existing backers, and in May of that year it reported a $4.5 million round.
Founded in 2003, SeeWhy offers an abandonment tracking service, called Abandonment Tracker Free, which follows web analytics to find websites, online forms, applications and registrations that have been abandoned before completion, and help clients see why that occurred so they can better convert customers.
Other backers include venture capital firms Logispring, Pentech Ventures and Delta Partners, as well as Scottish Enterprise, Scotland’s government economic development agency. SeeWhy operates an engineering division in Edinburgh, Scotland.
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