parcelLab secures $112 million to help brands deliver memorable post-purchase experiences
parcelLab, platform formanaging the'Operation Experience*, secures an investment of US$112 million (€92.5 million) to focus on expansion and growth.
- Operation Experience management in 153 countries worldwide.
- Sending more than seven million proactive, personalized communications per day (that's 82 communications per second).
Paris, May 11, 2021- parcelLab, the global leader in Operation Experience management, today announced that it has secured a US$112 million / €92.5 million Serie C round of funding. The round was led by global venture capital and private equity firm Insights Partners and Endeit Capital. Existing investors Capnamic Ventures and coparion also contributed to this latest round of funding, which will enable the Operation Experience category leader to continue its mission of bringing brands and their customers together in the post-purchase experience.
"As e-commerce becomes increasingly competitive, delivering unique and personalized experiences is a major growth issue, for brands. Identifying opportunities to get closer to their customers in order to build lasting relationships is a key differentiator. Brands that invest in Operation Experience turn operational complexity into opportunities to differentiate themselves from their competitors in the marketplace. We are very excited and proud to be a part of this journey and look forward to entering new industries and helping new customers improve their Operation Experience." states Tobias Buxhoidt, CEO and co-founder of parcelLab.
''We are proud to invest in ScaleUp companies that are making significant changes to their industry. We see, in parcelLab a real potential to transform the way brands connect with people. We are thrilled to be able to support parcelLab's growth and progression as they establish themselves as a true leader in the Operation Experience category." expresses Matt Gatto, Managing Director of Insight Partners
parcelLab was founded in 2015 by Tobias Buxhoidt, CEO Julian Krenge, CTO, and Anton Eder, COO. Between Series B and Series C funding, parcelLab has been working to transform customer experience and post-purchase communication into operational processes, which have traditionally been opaque, complex and the source of much frustration. The Operation Experience category addresses post-purchase and beyond by putting the customer at the center of all priorities.
Endeit Capital, one of Europe's leading fintech investors, is also contributing to the round. parcelLab will be the first investment of its new fund, Endeit Capital III, which will invest €250 million in Europe's digital sovereignty over the next few years. Philipp Schroeder, Partner at Endeit, comments: "The parcelLab team has a clear mission to provide its customers with a very high quality product, internationally. We have a strong track record of business development in more than 30 countries, based on a "buy and build" approach, so we have a real contribution to make.
The parcelLab team is the perfect example of the kind of Internet entrepreneurs we want to support - entrepreneurs who want to drive change to make Europe more competitive and who have the ambition to become global market leaders.
Big names like Lidl, IKEA, Bose, Nespresso, Puma and Back Market have partnered with parcelLab to transform their Operation Experience, enabling them to achieve impressive conversion rates and success statistics, such as double-digit increases in shopping cart value, email open rates of more than 90%, 25% reductions in WISMOs (Where Is My Order) and triple-digit increases in customer reviews
For brands, this means more chances to build lasting relationships. And for customers, it means memorable post-purchase experiences.
The new funding will increase parcelLab's global expansion, support new product development and accelerate the progress of the recently launched returns portal, enabling brands to offer a seamless end-to-end returns experience.
This Operation Experience management platform continues to grow exponentially into new areas and will result in the recruitment of new talent worldwide (remote capability). "We are excited to be able to bring our technology to new brands and industries as customer obsession is a business imperative for any product or service in today's fast-paced world," adds Tobias.
*Operation Experience refers to the post-purchase operational phase of the customer journey.
parcelLab is the global leader in Operation Experience management.
We bring brands and their customers together in the post-purchase experience and beyond, turning operational complexity into opportunity, to enable more than 500 clients worldwide such as Bose, Nespresso, Puma, Farfetch, to excel.
With offices in Munich, London, Paris and New York, we have been named one of Europe's fastest growing technology companies in 2021 by the Financial Times.
Our daily routine:
- Tracking more than three million shipments every day in 153 countries
- Sending more than 7 million proactive, personalized emails
- Tracking delivery data from more than 150 carriers worldwide including DHL, FedEx and DPD
- Creating more than 30 million interactions between brands and their customers every day
We offer brands the opportunity to create lasting relationships with their customers. For them, we turn the meaningless experience of the operational phase into a moment of joy.
Insight Partners is a leading global venture capital and private equity firm that invests in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised more than $30 billion in capital commitments through a series of funds. Insight's mission is to find, fund and successfully work with visionary leaders, providing practical, hands-on software expertise to drive long-term success. Through its team and portfolio, Insight believes that ScaleUp companies and growth create opportunities for all. For more information about Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Endeit Capital:
From its home markets of the Netherlands and Germany, Endeit Capital specializes in investing in tech startups to help them scale up. Endeit supports these companies by providing capital and management expertise to help them reach full maturity. Endeit Capital's partners draw on their extensive experience in buy and build transactions for expansion and internationalization, as the founders of Endemol have successfully done. Responsible investing is paramount: no financial engineering processes within the portfolio of companies, increased attention to social aspects related to the management of the companies. Endeit Capital is a co-signatory of the United Nations Principles for Responsible Investment. In recent years, Endeit Capital has raised a total of € 500 million in private equity; Endeit Capital now has 11 companies from 7 countries in its portfolio. Dutch companies in the portfolio include Bux, 3D Hubs, Roamler, Albelli, MetrixLab, Unamic and Eyeworks. Gastrofix, Comtravo, Contorion, Chronext, Tourradar and Smartclip are Endeit Capital investments in the DACH region (Germany, Austria, and Switzerland). The company has also invested in Blis and Unruly in the UK and Leadfeeder in Northern Europe.
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