Parcel Perform heralds $20M Series A investment

Singapore-based Parcel Perform, a cloud-based delivery experience provider for global e-commerce shippers, announced today that it has secure $20M in Series A investments.

This investment was headed by Palm Beach, Fla.-based Cambridge Capital, an investor in niche supply chain leaders, as well as a new investor, SoftBank Ventures Asia and existing investors Wavemaker Partners and Investible.

Parcel Perform manages more than 100 million parcel tracking updates on a daily basis, which provide real-time visibility of tracking data while helping e-commerce shippers boost customer lifetime value by up to 40%. And the company said it is already turning a profit, in the form of revenue rising by a multiple of five going back to the beginning of the pandemic.

What’s more, the company observed that its founders—Dr. Arne Jeroschewski, CEO and co-founder, and Dana von der Heide, CCO and co-founder—have leveraged their industry expertise in building a global business focused on standardizing last-mile delivery across more than 700 global carriers, which the company said represents the largest data set of its kind in the parcel sector. And it added that the company’s technology is a core component of logistics-related decision-making and customer experience processes for e-commerce shippers like Nespresso, direct-to-consumer retailers like Waterdrop, and marketplaces like idealo.

Parcel Perform said that this round of investment funding will be allocated towards various initiatives, including:

• cementing its technology leadership, and support its global expansion and recruitment efforts;
• building out its technology offerings and investing further in artificial intelligence (AI) solutions, including scaling its proprietary ‘Date of Arrival' prediction engine which allows customers to know precisely when their parcels will arrive; and
• with more than 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

“With e-commerce becoming the primary retail channel, the need for merchants to provide an excellent post-purchase experience has become business critical,” said Jeroschewski in a statement. “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.”

And von der Heide added that Parcel Perform was keenly focused 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,” she said. “Today, we are proud to support hundreds of customers by allowing them to leverage our platform as a true differentiator in their markets.”

Cambridge Capital Managing Partner Ben Gordon told LM that Parcel Perform helps companies transform ineffective logistics processes by providing an anchor for data-driven technology to keep up with evolving demands of global customers.

“The first instance of how the platform does this, is through the end-to-end visibility of shipping data,” he said. “Full visibility ensures transparency which gives companies the freedom to focus towards improving the customer experience and reducing last-mile costs with readily available data at their fingertips.”

And he added that a good analogy for investing in Parcel Perform is akin to data being the new oil.

“Like oil, those who can refine data and extract value from it possess a highly valuable asset,” he explained. “Much like other industries, logistics is experiencing its own digital transformation and is embracing this valuable asset. This coupled with the pressure of the COVID-19 pandemic, created the perfect storm for the reliance on data driven logistics solutions. Companies that leverage on it are the big winners in this highly competitive industry.”

Parcel Perform’s co-founders Jeroschewski and von der Heide have built a unique and diverse team over the years, according to Gordon.

“They are committed to increasing space for women in logistics and helping to foster a new generation of female talent—achieving 45% female employees across offices,” he said. “The team of 100+ passionate Parcel Performers is made up of 14 different nationalities and speak a total of 19 languages.”