Parcel Perform, a cloud-based delivery experience platform for e-commerce firms based in Singapore, said today that it has raised US $20 million in Series A funding lead by Cambridge Capital.
Along with previous investors Wavemaker Partners and Investible, new investor SoftBank Ventures Asia joined the round.
The strategic investment will be used by the firm to expand worldwide, extend its technological offerings, and invest more in artificial intelligence (AI) solutions. Scaling its unique ‘Date of Arrival’ prediction system, which allows consumers to know exactly when their packages will arrive, is part of the plan.
The additional financing will allow the firm to create a regional headquarters in North America and grow to 150 workers internationally by the end of the year, with over 100 employees throughout Asia-Pacific and Europe.
Dr. Arne Jeroschewski (CEO) and Dana von der Heide co-founded Parcel Perform (chief commercial officer). Jeroschewski was the co-founder and CEO of Zalora. He has also worked with der Heid in top leadership capacities at Singapore Post and DHL.
With data connections, package tracking, delivery alerts, and real-time logistics performance statistics, the startup allows contemporary e-commerce businesses to build “unique end-to-end consumer journeys” and optimize logistics operations.
It boasts that its SaaS platform processes over 100 million packages change every day. It has connected with over 700 carriers, allowing businesses to see tracking data in real-time and boost customer lifetime value by up to 40%.
The company, which has offices in Singapore, Vietnam, and Germany, claims that its income has increased fivefold since the start of the COVID-19 epidemic.
Nespresso, Decathlon, and Singapore-based Love, Bonito are among Parcel Perform’s clients.
The company recently expanded its B2C website Parcel Monitor, which was originally designed as a tracking tool for end-users, into a worldwide community portal that gives e-commerce logistics experts free access to logistics data insights.
Parcel Perform received a seed round of US$1.1 million from Wavemaker Partners and 500 Durians in 2018.
“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,” said CEO Jeroschewski.
Cambridge Capital, based in the United States, is a supply chain investing business. It invests in private equity to help growing firms in transportation, logistics, and supply chain technologies expand, recapitalize, or acquire.
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