The already profitable e-commerce delivery experience SaaS leader has taken on a strategic investment from global blue-chip investors to drive continued expansion and technology innovation
The Series A funding round led by Cambridge Capital also includes new investor SoftBank Ventures Asia, and existing investors including Wavemaker Partners and Investible
Parcel Perform looks to establish a regional headquarters in North America, strengthen its footprint in Asia and Europe, and grow to 150 employees by the end of the year
SINGAPORE, Aug. 11, 2021 /PRNewswire/ -- Parcel Perform, the leading cloud-based delivery experience platform for e-commerce businesses worldwide, announced today that it has successfully secured US$20M in Series A investments led by Cambridge Capital, with new investor SoftBank Ventures Asia joining the round alongside existing investors including Wavemaker Partners and Investible. The company currently manages over 100 million parcel tracking updates daily, providing real-time visibility of tracking data and helping businesses to increase customer lifetime value by up to 40%. Already profitable, Parcel Perform continues to see stellar growth, with revenue growing by 5x since the onset of the COVID-19 pandemic.
The strategic investment from leading blue-chip investors will help Parcel Perform cement its technology leadership, and support its global expansion and recruitment efforts. Parcel Perform will use the fresh funding to build out its technology offerings and invest further in artificial intelligence (AI) solutions. This includes scaling its proprietary 'Date of Arrival' prediction engine which allows customers to know precisely when their parcels will arrive. With over 100 employees across Asia-Pacific and Europe, the new funding will also enable the company to establish a regional headquarters in North America and grow to 150 employees globally by the end of the year.
Parcel Perform's founding team has leveraged their industry expertise to build a truly global business, standardizing last mile delivery data across 700+ carriers worldwide – the largest such data set in the industry. Parcel Perform's technology forms the backbone of logistics-related decision-making and customer experience of leading e-commerce brands such as Nespresso, as well as direct-to-consumer retailers like Waterdrop and marketplaces like idealo.
"With e-commerce becoming the primary retail channel, the need for merchants to provide an excellent post-purchase experience has become business critical. Parcel Perform is uniquely positioned to capitalize on this opportunity with its enterprise-grade solutions and its globally standardised logistics data integrations. We are thrilled that our investors recognise our ability to build a sustainable and profitable business by serving some of the most sophisticated enterprise customers worldwide to help them boost their customer satisfaction online," said Dr. Arne Jeroschewski, CEO and co-founder of Parcel Perform.
"We set our hearts on building a scalable, sustainable and customer-focused enterprise software company. We grew our team to over 100 people and expanded our customer base from our roots in Asia to also working with leading brands, marketplaces and carriers in Europe and North America. Today, we are proud to support hundreds of customers by allowing them to leverage our platform as a true differentiator in their markets," added Dana von der Heide, CCO and co-founder of Parcel Perform.
Benjamin Gordon, Managing Partner of Cambridge Capital points out, "Cambridge Capital focuses exclusively on global logistics and supply chain technology. We are excited to choose to invest in Parcel Perform, and to partner with Arne and Dana as the lead investor in this Series A financing. Visibility is a vital market in this age of e-commerce. After evaluating many companies worldwide, we believe that Parcel Perform simply offers the best visibility and experience solution. They have built a unique value proposition for brands, marketplaces and carriers, with the most complete solution for end-to-end shipment tracking. Arne and Dana reflect what we look for: outstanding founders, with supply chain industry expertise, and a focus on building profitable growth for the long term."
"The past few years have highlighted the importance of global commerce and resilient supply chains. Parcel Perform did not only launch an enterprise-ready and scalable, modular platform but also built a global community for e-Commerce professionals with Parcel Monitor. Their passion for the industry, hyper global approach and diverse team enable them to provide features that will change the experience for all stakeholders in last mile delivery. We are excited to partner with them and help them drive their next chapter of innovation in e-commerce logistics," said Cindy Jin, Partner at SoftBank Ventures Asia.
Davide Costella, Global Delivery Services Manager at Nespresso, said, "Over more than two years of working with Parcel Perform, their solution has become our global track-and-trace solution. Thanks to their vast coverage of more than 700 carriers worldwide and quick onboarding of additional ones, we have implemented track & trace deliveries in different Nespresso markets across all continents. With the help of their streamlined data in 30+ languages and sophisticated product suite, we are creating excellent post-purchase experiences but also getting real insights into actual carrier Service Level compliance which helps us drive continuous improvement and better rates. Tracking assistance is amongst the top reasons customers call our customer relationship center and in some markets, we have seen a 45% decrease in these calls. In addition, with our session cam analytics, we have observed that customers revisit the track-and-trace webpage 4-6 times during the delivery time window, proving it is indeed an essential feature to boost customer experience."
The business will continue to expand its strong network of partners and integrations with companies such as AWS and SAP. Parcel Perform recently extended its B2C website Parcel Monitor, originally a tracking service for end-consumers, into a global community page providing free access to logistics data insights for e-commerce logistics professionals.
Parcel Perform has offices in Singapore, Vietnam and Germany. While scaling their LogTech SaaS business, Parcel Perform stayed true to their convictions in equality and managed to build a diverse team of 100+ employees while achieving gender equality targets.
About Parcel Perform
Parcel Perform is the leading delivery experience platform. It enables modern e-commerce enterprises to create unique end-to-end customer journeys and optimize logistics operations with powerful data integrations, parcel tracking, delivery notifications and logistics performance reports in real-time. Parcel Perform's scalable SaaS platform executes more than 100M parcel updates daily and integrates with 700+ carriers. The data-first company is pioneering innovative ML / AI use cases in e-commerce logistics including its 'Date of Arrival' prediction engine. Parcel Perform is the partner of choice for top brands, marketplaces and carriers across all major verticals globally.
Cambridge Capital is an investment firm focused on the applied supply chain. The firm provides private equity to finance the expansion, recapitalization or acquisition of growth companies in transportation, logistics and supply chain technology. Our philosophy is to invest in companies where our operating expertise and in-depth supply chain knowledge can help our portfolio companies achieve outstanding value.
Founded in 2000, SoftBank Ventures Asia is the early-stage venture capital arm of the SoftBank Group. Its expertise lies in ICT investments including AI, IoT, and smart robotics. SoftBank Ventures Asia looks for early to growth-stage start-ups that have strong business potential in the global market and assist them to be plugged into the SoftBank ecosystem by facilitating side-by-side growth. SoftBank Ventures Asia currently operates approx. $1.5B under management, investing in innovative technology start-ups across the world.