Why our Series C funding round changes people’s whole perspective of our company
Published on: July 16, 2021
Updated: August 29, 2023
Last month, we announced that the parcelLab team had successfully raised $112 million in our Series C investment round. Since then, the team have been reflecting on what this milestone will mean for the company. Mike Harris, our VP Global Sales, gives his thoughts on how the investment round will affect his team, their goals and their day-to-day activities.
I think we have all seen the immediate impact of our Series C funding. In the sales team particularly, it’s allowing us to hire faster and accelerate our growth. But most importantly, it’s helping us attract the best sales talent in the market. When you can tell candidates that we’ve just raised $112 million, it changes their perspective of parcelLab and the opportunity to work with us. This funding is evidence that we’re a successful company in a strong market and we’re going to be around for a while.
And that’s the same for potential customers and partners. It’s boosted our credibility. These companies can see that we’re doing something special and it’s now been validated by a very respected external source. On a related note, I am particularly excited to be working with Insight Partners. They are one of the top venture capital companies in the US for B2B SaaS and have a great track record investing in successful companies. Our association with Insight Partners will boost our profile in the US. We look forward to working closely with them as we expand our presence in the US market.
Series C funding will accelerate our product development
The investment means that we will be able to build more products for new and existing customers, and do so much faster than we could before. We have an exciting product roadmap ahead of us. We intend to remain the global leader in the fast-moving Operations Experience category.
It’s important to remember that even though we’re entering new markets, we are still just getting started in Europe. We do already partner with 500+ brands in Europe and around the world. However we don’t want to lose focus on growth and building momentum. Even with this Series C investment, our job is still the same: bring people and brands closer together across the world.
Growing a global, Digital First sales team
I love our Digital First initiative for several reasons. Firstly, I feel like we are putting trust in and empowering our sales teams to make decisions about where and how they work. That’s really powerful and is highly valued by our team. Another advantage is that it makes building our team in new markets much easier. We don’t have to build an entire team and set-up an office in a specific city. We can just hire the best talent wherever they are located. It makes scaling much faster.
That said, I believe in the impact of having the team together and collaborating. I don’t think that will ever go away. We see this especially with our SDRs; having them together in the office is great for their energy. It’s infectious. It’s nice to have people around to learn from as well. That’s something you don’t get as easily when you’re working from home. So, the plan is continue to have regular weekly meet ups in the office whilst maintaining the balance of office and remote flexibility.
Our Series C funding is just the beginning.
I’ve been very impressed with the resilience of our sales team through the pandemic. They performed incredibly well last year, considering everything that happened. With the pandemic hopefully soon behind us, we are very excited about the impact the new Series C funding will have on our team, customers and partners. Exciting times for sure. Stay tuned for more!
To find out how we secured an $112 million investment into our leading Operations Management Platform, and how we plan to help more brands deliver a seamless experience, read our press release.