Durham-based eCommerce firm Windsor Circle, which slashed almost half its staff in March, has raised additional equity as it pursues its upmarket strategy.

In a Form D filing with the U.S. Securities and Exchange Commission, the company disclosed a new equity raise of $694,163 from 18 investors.

In March, in addition to reducing slashing its staff by almost half as it pivoted its strategy, the company raised a $1.69 million equity financing.

Windsor Circlehelps eCommerce retailers increase sales with software that automatically scores customers, predicting their lifetime value, risk of churn, and probable re-order date. It predicts when the retailer should deliver the right message, with the right offer, at the right time.

The company has raised nearly $14 million in equity and debt funding, the bulk of it equity, since 2011.

Matt Willamson , CEO and co-founder of Windsor Circle was previously 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.

In previous interviews with WRAL Techwire, Williamson said Windsor Circle is focusing on winning larger clients such as divisions of Amazon and Petco and “driving really powerful results for them.” That, he noted, is “different from the small business market we served earlier.”

He the company’s revenues are still growing.

Scot Wingo, founder and former CEO of RTP-based ChannelAdvisor, is a director of the company.

For background on the company lay-offs and strategy pivot see:

https://wraltechwire.com/windsor-circle-s-ceo-on-pivot-layoffs-buck-stops-with-me-/16601424/

and: https://wraltechwire.com/inside-the-windsor-circle-pivot-why-the-change-why-the-layoffs-/16601459/