A first close of $645,000 was initiated by Windsor Circle, Inc. on its fundraising effort started this month. 64.5% of the $1 million non-brokered equity offering was placed with five investors. The company expects to raise an additional $355,000 to close the offering within a year. The company had raised an estimated $2 million via four offerings until now. The equity offering’s expected net proceeds will amount to $820,000 which excludes $180,000 to be paid toward officers’ salaries. The company is backed by IDEA Fund Partners, a Southeast focused seed and early stage firm.
Windsor Circle’s developed a retention marketing platform for online retailers which is a subscription-based software-as-service (SaaS) designed to increase the number of repeat buyers. The application enables users to segment their customers based on purchase behavior, send targeted email marketing campaigns and track key metrics via an analytics dashboard.
Matthew “Matt” Williamson (Co-founder, President and CEO) leads the Durham NC based company which was registered in 2011. Windsor Circle, Inc. reported revenues on or below $1 million for the latest fiscal year. The executive team includes Chris Humphres (Co-founder and CTO) Bradley “Brad” McGinity (Co-founder and VP Sales) and Scot Catlin (Co-founder and Client Success Manager). The board of directors includes Lister Delgado.
Status: First close
Company: Windsor Circle, Inc.
Amount offered: $1,000,000
Amount placed: $645,000