SeeWhy Adds $2 Million

SeeWhy Inc., an Andover, Mass.-based provider of real-time analystics on los ecommerce customers, has raised $2 million in new VC funding. Return backers include Scottish Enterprise, Logispring, Pentech Ventures and Delta Partners. The company raised $4.5 million in second-round funding earlier this year.

PRESS RELEASE

SeeWhy, Inc., the website conversion company, today announced the completion of a $2 million investment round by several of its current shareholders. Through 2010, SeeWhy plans to add additional investors alongside those investing in this round to support its rapid growth in the website conversion market.

“In a challenging economy, investors assess each opportunity with a fine-tooth comb,” said Scott G. Silk, CEO of SeeWhy. “Our real-time shopping cart abandonment solutions convert up to 50 percent of website abandoners to customers, delivering among the highest ROIs in the industry — in good and bad economic climates alike. This investment reaffirms the value we bring our customers as well as the investment community.”

Dermot Berkery, partner at Delta Partners, said, “SeeWhy gives ecommerce companies a nearly-foolproof method for significantly improving their conversion rates. Now, the company is ramping up its go-to-market activities and expanding its base of customers and partners. We believe the new funds will help to accelerate those efforts, capture market share and establish SeeWhy as the de facto standard in the website conversion market.”

SeeWhy will use the new funds to bolster sales, marketing and SaaS support for Abandonment Tracker Pro, the first and only web analytics service to enable real-time remarketing for website abandoners. The SaaS offering automates and optimizes abandonment follow-up actions, making it easy to convert up to 50 percent of website visitors who had previously abandoned their shopping carts, online forms, applications and registrations.

The recent additions of BlueHornet Networks, ExactTarget and SilverPop to its partner program support the growth SeeWhy expects to build upon in 2010. Likewise, recent customer wins including Eat’n Park, Generate Design and eCourier are proof points of the company’s strategy as more organizations look for easy, automated ways to boost their bottom lines through remarketing.

For information on SeeWhy, visit www.seewhy.com. For additional perspectives, please visit and subscribe to the SeeWhy RSS blog feed at http://www.seewhy.com/blog, and follow SeeWhy on Twitter at @webconversion.

Additional Resources

SeeWhy website: http://www.seewhy.com

SeeWhy blog: http://www.seewhy.com/blog

SeeWhy on Twitter: @webconversion

About Delta Partners

Delta Partners is a venture capital firm investing in Ireland and the United Kingdom. It was established in 1994 and has €230 million under management. The firm has a strong focus on investing in early stage technology companies, and the team has made over 50 investments in the following sectors: information technology, communications and medtech. Delta Partners is among the most active early stage investors in Europe. The partners’ backgrounds in operations, strategy and finance complement the drive and ambition of entrepreneurial management teams. For more information, visit http://www.delta.ie/.

About SeeWhy

SeeWhy delivers breakthrough improvements in website conversion through continuous analysis of individual visitors and proactively optimizes real-time actions. Powered by a unique next generation event processing architecture, the SeeWhy suite of real-time web analytic applications is delivered “on-demand.” Remarketing to abandoned visitors using the SeeWhy Abandonment Tracker service converts up to 50 percent of visitors that had abandoned their shopping carts, online forms, applications and registrations. This service provides one of the highest and most easily attainable ROI’s of any online marketing initiative.

SeeWhy is a Red Herring Top 100 Company, has been named a Global Innovator by Guidewire Group and was highlighted as a cool company by Gartner, Inc. SeeWhy, Inc. was incorporated in 2003 and is headquartered in Andover, MA. More information can be found at http://www.seewhy.com/.

SeeWhy, the SeeWhy logo and SeeWhy Abandonment Tracker Free are trademarks of SeeWhy, Inc. All other trademarks are the property of their respective owners.

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