Parcel Perform Raises $20 Million: Singapore Logistics Tech Startup

Parcel Perform Secures $20 Million in Series A Funding

Parcel Perform, a Singapore-based company specializing in connecting merchants with e-commerce carriers and providing shipment tracking, announced on Wednesday a successful $20 million financing round. This new capital will fuel the company’s expansion across multiple global regions.

Investment Details

Cambridge Capital spearheaded the Series A funding for the logistics technology startup. SoftBank Ventures Asia, alongside existing investors like Wavemaker Partners and Investible, also participated in this round.

Enhancing the E-commerce Experience

Dr. Arne Jeroschewski, co-founder and CEO of Parcel Perform, explained in a recent interview that the company’s core function is to elevate the interaction between e-commerce businesses, their customers, and the carriers involved in delivery.

For example, Nespresso, a provider of coffee machines, capsules, and accessories, utilizes Parcel Perform to access crucial logistics data. This data allows Nespresso to optimize the tracking experience for its customers, including the design of tracking webpages and authentication systems.

Boosting Customer Loyalty and Revenue

Parcel Perform equips merchants with tools to establish additional customer engagement points following the initial purchase. This strategy aims to foster greater brand loyalty and facilitate increased inventory turnover.

Furthermore, the platform supports over 30 languages, enabling businesses to deliver highly personalized experiences to a diverse customer base. Companies leveraging Parcel Perform’s services have reportedly seen a customer lifetime value increase of up to 40%.

Profitable Growth and AI-Powered Predictions

The startup has already achieved profitability and experienced a fivefold revenue increase since the beginning of the pandemic. Its AI stack is utilized to forecast delivery timelines, providing customers with accurate estimated arrival times.

Parcel Perform integrates with more than 700 carriers globally, processing over 100 million parcel updates daily.

Industry Recognition

Benjamin Gordon, managing partner at Cambridge Capital, stated, “Visibility is paramount in today’s e-commerce landscape. After a thorough evaluation of numerous companies, we determined that Parcel Perform offers the most effective visibility and experience solution.”

He further emphasized the company’s unique value proposition for brands, marketplaces, and carriers, highlighting its comprehensive end-to-end shipment tracking capabilities. Cambridge Capital focuses exclusively on investments in global logistics and supply chain technology.

Founding Team and Expertise

Parcel Perform was founded by Arne Jeroschewski and Dana von der Heide. Jeroschewski previously co-founded the e-commerce unicorn Zalora and held leadership positions at Singapore Post and DHL, where he collaborated with Dana.

Dana von der Heide also serves as an advisory member of the German Logistics Association and is a participant in Alibaba’s prestigious eFounder Fellowship program.

Future Expansion Plans

Jeroschewski indicated that the newly acquired funds will be used to accelerate expansion in Asia and Europe. The company also plans to establish a regional office in North America and increase its workforce.