Parcel Perform, a Singapore-headquartered cloud-based delivery experience platform for e-commerce businesses, announced today that it has secured US$20 million in Series A investments led by Cambridge Capital.
New investor SoftBank Ventures Asia also joined the round, alongside existing investors Wavemaker Partners and Investible.
The startup will use the strategic investment to expand globally, build out its technology offerings, and invest further in artificial intelligence (AI) solutions. It includes scaling its proprietary ‘Date of Arrival’ prediction engine that 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 was co-founded by Dr Arne Jeroschewski (CEO) and Dana von der Heide (chief commercial officer). Jeroschewski previously co-founded Zalora and was its CEO. He has also held senior leadership roles in Singapore Post and DHL, where he worked with der Heid.
The startup enables modern e-commerce enterprises to create “unique end-to-end customer journeys” and optimise logistics operations with data integrations, parcel tracking, delivery notifications and logistics performance reports in real-time.
It claims its SaaS platform executes more than 100 million parcel updates daily. It has integrated with 700-plus carriers, providing real-time visibility of tracking data and helping businesses to increase customer lifetime value by up to 40 per cent.
With offices in Singapore, Vietnam and Germany, the firm claims its revenue grew 5x since the onset of the COVID-19 pandemic.
Parcel Perform’s clients include Nespresso, Decathlon, and Singapore-based Love, Bonito.
The startup recently extended its B2C website Parcel Monitor — initially a tracking service for end-consumers — into a global community page providing free access to logistics data insights for e-commerce logistics professionals.
In 2018, Parcel Perform raised a US$1.1 million seed round from Wavemaker Partners, and 500 Durians.
“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 CEO Jeroschewski.
Based in the US, Cambridge Capital is an investment firm focused on the applied supply chain. It provides private equity to finance the expansion, recapitalisation or acquisition of growth companies in transportation, logistics and supply chain technology.
Image Credit: Parcel Perform
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