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 Investible and Wavemaker Partners.
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.
Investible first invested in Parcel Perform from its inaugural fund in September 2019. Less than two years later, we have followed up in the Series A, impressed with the resilience the business has shown amidst global uncertainty.
"The business has scaled incredibly over the last 18 months through a very difficult period and it's a testament to Dana and Arne's management, operational and execution abilities. I look forward to next chapter of growth through Europe and North America," said Investible's Investment Director, Daniel Veytsblit.
This new funding will help Parcel Perform cement its leadership in logistics tech, 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.
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 capitalise on this opportunity with its enterprise-grade solutions and its globally standardised logistics data integrations," 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.
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.
Learn more about Parcel Perform.