Seel, which focuses on underwriting e-commerce returns, is leveraging artificial intelligence to build proprietary underwriting software that uses hundreds of signals to predict the probability of return as soon as an order is placed.
Seel has close to 200 merchants using its software, ranging from boutiques to marketplaces. It is also seeing 20% of shoppers adding the assurance to their orders, which translates to a 5% conversion lift for merchants.
It is now launching its Shopify app, buoyed by $17 million in Series A funding led by Lightspeed Venture Partners. Existing investors participating include Foundation Capital, Afore Capital and West Loop Ventures.