Updated Mar. 14, 2017 at 1:23 p.m.

Durham-based Windsor Circle raises $1.1 million

Published: 2017-03-14 11:58:00
Updated: 2017-03-14 13:23:13

A Durham-based company that helps retailers increase sales has raised more than $1.1 million in a private equity offering.

Windsor Circle Inc. had been seeking to raise $1.2 million and raised just less than $1.17 million, according to a Form D filed Monday with the Securities and Exchange Commission.

Last year, Windsor Circle raised more than $4 million from investors.

Matt Willamson is the chief executive officer and co-founder of Windsor Circle. Prior to founding Windsor Circle, he spent five years as vice president of sales for Bronto Software, helping to grow it from 10 people to over 100. He also held strategic and leadership roles at SAS, edocs, and Network Software Associates.

Founded in 2011, Windsor Circle won Google’s first pitch contest in 2014, has raised $8.75 million in venture capital, and helps over 300 retail clients.

It has developed software that scores customers, automatically, for predictive lifetime value, risk of churn, and predictive re-order date, and determines when the retailer should deliver the right message, with the right offer, at the right time.

In August, Windsor Circle was named to the Inc. 5000, the ranking of the nation’s fastest-growing private companies. Windsor Circle grabbed the No. 351 spot on the list, with a reported nearly 1,110 percent three-year sales growth.

One of its directors is Scot Wingo, co-founder and executive chairman of Channel Advisor.

Companies relying on a Reg D exemption do not have to register their offering of securities with the SEC, but they must first file what’s known as a Form D electronically with the SEC after they first sell their securities.

Note: This story is from the North Carolina Business News Wire, a service of UNC-Chapel Hill’s School of Media and Journalism

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