Singapore’s Logistics Startup ParcelPerform Raises $20 Million
- ByAyushi Ray | August 11, 2021
Singapore-headquartered Parcel Perform, raises $20 million. They connect merchants with e-commerce carriers and provide shipment tracking features. Cambridge Capital led the logistics tech startup’s Series A financing round, while SoftBank Ventures Asia and existing investors including Wavemaker Partners and Investible participated in it. The SaaS startup helps improve the experience of e-commerce merchants and their customers when engaging with carriers, explained Dr. Arne Jeroschewski, co-founder and chief executive of Parcel Perform, in an interview with TechCrunch. Nespresso, which sells home coffee machines, capsules and accessories, relies on Parcel Perform to gain access to logistics data, for instance. Based on this data, said Jeroschewski, tracking experience — such as a web page for tracking, a system for authentication — is charted for the firm and the startup also provides tools for customer support.
They also provide these merchants with tools to create additional touchpoints after the checkout to create higher brand loyalty with customers, opportunities to move more inventories, and it has also developed a system to support more than 30 languages to offer the most personalized experience to customers. It says businesses on its platform have increased their customer lifetime value by up to 40%. The startup — which is already profitable and has grown its revenue by 5x since the onset of the pandemic — also uses its AI stack to make predictions on things such as when a customer will get their parcel. Parcel Perform, which integrates with over 700 carriers, has courted clients globally and executes more than 100 million parcel updates each day.
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