Seel develops proprietary underwriting software that uses hundreds of signals to predict the probability of a product return as soon as an order is placed. Merchants can add “return assurance” at sale to transfer return liability to Seel; if an order is returned within 30 days, Seel pays the refund. Shoppers can also add the assurance for a small fee at checkout, and about 20% of shoppers are opting in, translating to a roughly 5% conversion lift for merchants. The company reports close to 200 merchants using its software after a private beta that began five months ago and says it has been operating for about two years. Seel is launching a Shopify app and plans to use new capital to grow the team, strengthen the product and expand go-to-market. The company grew from five to 25 employees in 2021 and is on track to double headcount in the coming quarters.

Total raised

$17M

Funding rounds

1

Latest round

Series A

Latest activity

Jan 2022