An e-commerce platform, Parcel Perform announced that it has received US$20M in Series A funding led by Cambridge Capital, with SoftBank Ventures Asia joining previous investors Wavemaker Partners and Investible.
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 standardized logistics data integrations. We are thrilled that our investors recognize 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.”
The company currently tracks over 100 million parcels daily, providing businesses with visibility into tracking data in real-time as well as helping grow customer lifetime value by up to 40%. Parcel Perform is already profitable and continues to grow rapidly, with revenue increasing by 5x since COVID-19 emerged.
Parcel Perform will be able to consolidate its technology leadership, attract more employees, and expand globally with the investment from blue-chip investors. The new funding will be used to expand Parcel Perform’s technology offerings and expand its artificial intelligence (AI) solutions. The technology provides customers with a precise estimation of when their parcels will arrive by scaling its proprietary ‘Date of Arrival’ prediction engine.
The Parcel Perform founding team leverages industry experience to build the largest last-mile delivery data set in the industry by combining data from 700+ carriers worldwide. The technology of Parcel Perform is instrumental to leading e-commerce brands, including Nespresso and Waterdrop, as well as direct-to-consumer retailers and marketplaces like idealo when it comes to decisions related to logistics.
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The Investing partners commented –
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.”
Cindy Jin, Partner at SoftBank Ventures Asia, said, “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.”