Singapore cloud-based delivery experience platform Parcel Perform has secured US$20m in series A investments.

The company manages more than 100 million parcel tracking updates daily, providing real-time visibility of tracking data and helping businesses increase customer lifetime value by up to 40%. Already profitable, Parcel Perform continues to see growth, with revenue growing fivefold since the onset of the Covid-19 pandemic.

The money will help Parcel Perform cement its technology and support its global expansion and recruitment efforts. The company will use the funds to build out its technology offerings and invest further in artificial intelligence (AI). This includes scaling its proprietary date-of-arrival prediction engine, which allows users to know precisely when their parcels will arrive.

With more than 100 employees across Asia-Pacific and Europe, the 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.

“We set our hearts on building a scalable, sustainable and customer-focused enterprise software company,” said Dana von der Heide, CCO and co-founder of Parcel Perform “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. Today, we are proud to support hundreds of customers by allowing them to leverage our platform as a true differentiator in their markets.”

The founding team has leveraged its industry expertise to build a global business, standardising last-kilometre delivery data across more than 700 carriers worldwide, said to be the largest such data set in the industry.

“With ecommerce becoming the primary retail channel, the need for merchants to provide an excellent post-purchase experience has become business critical,” said Arne Jeroschewski, CEO of Parcel Perform. “Parcel Perform is uniquely positioned to capitalise on this opportunity with its enterprise-grade solutions and its globally standardised logistics data integrations. We are thrilled that our investors recognise 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.”

The funding round was led by Cambridge Capital, with new investor SoftBank Ventures Asia joining the round alongside existing investors including Wavemaker Partners and Investible.

“Cambridge Capital focuses exclusively on global logistics and supply chain technology,” said Benjamin Gordon, managing partner of Cambridge Capital. “We are excited to choose to invest in Parcel Perform, and to partner with Arne and Dana as the lead investor in this series A financing. Visibility is a vital market in this age of ecommerce. After evaluating many companies worldwide, we believe that Parcel Perform simply offers the best visibility and experience. They have built a unique value proposition for brands, marketplaces and carriers, with the most complete solution for end-to-end shipment tracking. Arne and Dana reflect what we look for: outstanding founders, with supply chain industry expertise, and a focus on building profitable growth for the long term.”

Cindy Jin, partner at SoftBank Ventures Asia, added: “The past few years have highlighted the importance of global commerce and resilient supply chains. Parcel Perform did not only launch an enterprise-ready and scalable, modular platform but also built a global community for ecommerce professionals with Parcel Monitor. Their passion for the industry, hyper global approach and diverse team enable them to provide features that will change the experience for all stakeholders in last-mile delivery. We are excited to partner with them and help them drive their next chapter of innovation in ecommerce logistics.”

The technology forms the backbone of logistics-related decision-making and customer experience of ecommerce brands such as Nespresso, as well as direct-to-consumer retailers such as Waterdrop and marketplaces such as Idealo.

“Thanks to their vast coverage of more than 700 carriers worldwide and quick onboarding of additional ones, we have implemented track-and-trace deliveries in different Nespresso markets across all continents,” said Davide Costella, global delivery services manager at Nespresso. “With the help of their streamlined data in 30-plus languages and sophisticated product suite, we are creating excellent post-purchase experiences but also getting real insights into actual carrier service level compliance, which helps us drive continuous improvement and better rates. Tracking assistance is among the top reasons customers call our customer relationship centre and, in some markets, we have seen a 45% decrease in these calls. In addition, with our session cam analytics, we have observed that customers revisit the track-and-trace web page four to six times during the delivery time window, proving it is indeed an essential feature to boost customer experience.”

The business will continue to expand its network of partners and integrations with companies such as AWS and SAP. Parcel Perform recently extended its Parcel Monitor B2C web site, originally a tracking service for end-consumers, into a global community page providing free access to logistics data insights for ecommerce logistics professionals.

Parcel Perform has offices in Singapore, Vietnam and Germany.