Singapore-headquartered Parcel Perform, which connects merchants with e-commerce carriers and provides shipment tracking features, said on Wednesday it has raised $20 million in a new financing round as it scales its business in several parts of the world.
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.
Parcel Perform also provides 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%.
Parcel Perform will deploy the fresh funds to scale further in Asia and Europe and also set up a regional office in North America, said Jeroschewski. The startup is also looking to increase its headcount.