Cloud-based e-commerce delivery platform Parcel Perform has 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 more than 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 five-fold since the onset of the Covid-19 pandemic.
The strategic investment from leading blue-chip investors will help Parcel Perform support its global expansion and recruitment efforts. Parcel Perform will also 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, Parcel Perform is looking 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, added, “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.”
Benjamin Gordon, managing partner of Cambridge Capital, commented, “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 enables 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.”
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-and-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.”
