Parcellab Secures $112M Series C Funding

ParcelLab Secures $112 Million in Series C Funding

ParcelLab, a company specializing in final-mile fulfillment solutions for online retailers and headquartered in Munich, has successfully completed a $112 million (GB£80 million) Series C funding round.

Investment Details

The funding round was spearheaded by Insight Partners, a prominent U.S. venture capital and private equity firm. Germany’s Endeit Capital joined as a co-investor, alongside current investors Capnamic Ventures and coparion.

ParcelLab’s previous funding round, a Series B, occurred in October 2019, with the amount remaining undisclosed. This new capital injection will be allocated to facilitate the company’s global expansion initiatives and the development of innovative new products.

Company Overview and Client Successes

Established in 2015 by Tobias Buxhoidt (CEO), Julian Krenge (CTO), and Anton Eder (COO), parcelLab has rapidly gained traction in the market.

Notable clients include Lidl, for whom parcelLab delivers automated, personalized shipping notifications. These notifications are credited with driving an impressive 85% customer return rate to Lidl’s website.

Impact on Retailers

ParcelLab also collaborates with major brands like Ikea and Farfetch. The company reports significant improvements for its clients, including:

Increased basket sizes
Email open rates exceeding 90%
A 25% reduction in “Where Is My Order” (WISMO) inquiries
Growth in customer reviews

Executive Statements

Tobias Buxhoidt, CEO and founder of parcelLab, emphasized the importance of unique branding in the increasingly competitive e-commerce landscape. He stated that fostering stronger customer relationships through enhanced communication is a crucial differentiator.

Matt Gatto, managing director at Insight Partners, highlighted the firm’s focus on identifying and investing in high-growth software companies. He expressed confidence in parcelLab’s potential to revolutionize brand-customer interactions.

Endeit Capital’s Perspective

Endeit Capital recently closed a €250 million fund dedicated to investing in European startups at the B-stage. This investment in parcelLab represents a recent deployment of those funds.

Philipp Schroeder, partner at Endeit, praised parcelLab’s founding team as exemplary internet entrepreneurs. He noted their ambition to establish Europe as a more competitive force and become global market leaders.

Competitive Landscape

Narvar, a U.S.-based competitor, has raised $64 million in funding, with its latest round also being a Series C. ParcelLab is positioned as a key player in this evolving market.