Parcel Perform , the cloud-based delivery experience platform for e-commerce businesses worldwide, announced 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 parcel s 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.
Dr. Arne Jeroschewski, CEO and co-founder of Parcel Perform said: “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.”
Dana von der Heide, CCO and co-founder of Parcel Perform commented: “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.”