E-commerce technology company Windsor Circle has added another $1 million to its coffers.
The investment from Chicago-based venture capital firm Origin Ventures tops off the 26-employee company’s Series B fund-raising at $6.25 million. Last month, Durham-based Windsor Circle announced it has raised $5.25 million.
“I don’t feel elation. I feel validation,” said CEO Matt Williamson.
Williamson said Windsor doesn’t need the additional money right now, although it will come in handy. More important, he said, is that Windsor will be able to tap the expertise and contacts of Origin’s partners, especially Brent Hill. Before becoming a venture capitalist, Hill was an executive at Twitter and Google.
Windsor plans to use the funding to add about a dozen employees over the next several months and to add new features to its software.
“We’re on a rocket ship ride,” Williamson said. “Building the best team will be the focus for the year to come.”
Windsor’s software helps online retailers boost business from repeat customers by analyzing purchase history and behavior and then using that information to automate customer loyalty and product recommendation programs. Revenue at the three-year-old, privately held company tripled last year.
Prior to its latest round of funding, Windsor had raised $2.4 million from investors.
Tuesday afternoon, Windsor was among the “showcase companies” at the CED Tech Venture Conference that made six-minute presentations to potential investors.
That presentation, said Williamson, helps lay the groundwork for the next time that Windsor needs to raise venture capital.
“A venture-backed CEO is always fund-raising,” he said.