NEWS18 December 2009

SeeWhy bags $2m funding for web conversion tool

Financials North America

US— Web analytics firm SeeWhy has secured an extra $2m investment from existing shareholders as it looks to bolster sales and support for its website conversion tool.

Abandonment Tracker identifies e-commerce shoppers who abandon their online shopping carts before purchase, allowing website owners to re-market to them to encourage them to spend.

SeeWhy bagged $4.5m in funding in May from Scottish Enterprise, Logispring, Pentech Ventures and Delta Partners. Delta was among the contributors to the latest investment round. Next year, SeeWhy says it plans to add additional investors.

CEO Scott Silk (pictured) said: “In a challenging economy, investors assess each opportunity with a fine-tooth comb… This investment reaffirms the value we bring our customers as well as the investment community.”