ParcelLab raises $112m for growth
Operations experience management company ParcelLab has raised $112 million to expand its international activities in fields such as communications, shipping and returns.
The German company, founded in 2015, announced earlier this month that it had secured US$112 million in Series C funding led by global venture capital and private equity firm, Insight Partners. Endeit Capital joined as a co-investor as well as existing investors Capnamic Ventures and coparion.
ParcelLab said the latest funding will fuel its global expansion, support new product development and further enhance the progression of its newly released returns portal, which enables brands to deliver a seamless end-to-end returns experience.
The company currently monitors over three million shipments per day, tracks shipping data from more than 150+ carriers worldwide, including DHL, FedEx & DPD, and sends about seven million pro-active, personalized, event-driven emails per day.
Tobias Buxhoidt, CEO and Founder, said: “As e-commerce becomes increasingly competitive, providing unique and branded experiences will drive growth. Identifying opportunities to further connect with people and build a better, stronger relationship is a key differentiator.
“Brands that are leveraging Operations Experience Management are transforming operational complexity into opportunities to overperform in the market. We’re super excited and proud to be on this journey and looking forward to disrupting new industry sectors with Operations Experience.”
Household names such as IKEA, Farfetch and Lidl have partnered with parcelLab to transform their Operations Experiences and boost impressive conversion rates and achievement stats. parcelLab is helping certain customers achieve double-digit basket size increases, email open rates of over 90%, 25% reductions in WISMO (where is my Order) and triple-digit increases of customer reviews.