Operations experience management platform parcelLab secures $112 million funding round
Munich, May 11, 2021.
parcelLab, the leading platform for operations experience management, has secured a Series C funding round of $112 million. The round was led by global venture capital and private equity firm Insight Partners and European investor Endeit Capital. Existing investors Capnamic Ventures and coparion also plan to invest again in the market leader in operations experience. parcelLab founders from left to right: Tobias Buxhoidt (CEO), Julian Krenge (CTO) and Anton Eder (COO).
- Focus on global expansion and growth
- Active operations experience management in 153 countries worldwide
- Currently, 7 million proactive, branded and personalized messages are sent via the parcelLab platform per day, which equates to 82 messages per second
With the fresh capital, parcelLab intends to drive its global expansion and support the development of new products. This includes, for example, a new returns portal that will enable brands to offer their customers an optimal end-to-end returns experience. In addition, the team is also to be massively expanded: Based in Munich, the company is looking for new talent around the world who can work completely remotely for parcelLab.
Online retail is becoming increasingly competitive. Customer centricity is the business imperative par excellence for every product and service in today's always-on world," says Tobias Buxhoidt, CEO and co-founder of parcelLab. "Brands that practice operations experience management leverage data from complex logistics processes and transform it into world-class customer experiences. This creates competitive advantages to stand out from the crowd. We are very proud to be able to help companies do this and look forward to revolutionizing new industries and brands with Operations Experience.
parcelLab turns process data into customer experiences.
After the order button is clicked, a complex process chain rolls in. Goods are packed in fulfillment centers, loaded onto trucks, redistributed at a logistics hub and then sent on their way to the customer. In the case of returns or complaints, the packages take the reverse route. Only when the delivery person rings the doorbell does the customer receive an answer to his most pressing question: "Where is my parcel". With the parcelLab platform, retailers can evaluate the process data that accumulates on the way from the sender to the customer at very different points such as the warehouse, during delivery, during returns processing or in the case of repairs, and automatically transform it into comprehensible customer information. When a package leaves the logistics center, for example, the customer receives a message that the order is now on its way to him. If the package has been left with a neighbor, the retailer can also notify him proactively. In this way, parcel shipping becomes transparent and increases the customer's anticipation of his order.
Matt Gatto, Managing Director of Insight Partners, is convinced by the parcelLab idea:
We pride ourselves on identifying scale-ups, investing in them, and driving transformative change in their industries. At parcelLab, we see real potential to change the way brands and people connect. We want to support this growth and development.
Philipp Schroeder, partner at Endeit Capital, sees parcelLab as proof that technical innovations that take digital commerce to a new level can come not always from the US or Asia, but also from Europe. With his new fund "Endeit Capital III", the investor plans to invest a total of 250 million euros in the coming years to promote digital sovereignty in Europe. "parcelLab has a clear mission to deliver a world-class product to its customers worldwide," he says. "With our buy & build approach and our experience in helping companies grow in more than 30 countries, we want to make a valuable contribution in this case as well."
Christian Schulte, managing director of coparion, agrees: "With its Operations Experience Management (OXM) platform, parcelLab has defined a new software category in the field of eCommerce infrastructure. As an early investor since 2017, we are proud to significantly expand our investment also in this growth round and to scale OXM globally in new industries and markets."
Christian Siegele, Partner at existing investor Capnamic Ventures, added: "It is impressive to see the extent to which the operations KPIs of retailers such as IKEA, Puma or Lidl develop positively through the use of the parcelLab platform. For us, they are good evidence of how companies can build lasting successful relationships with their customers through the use of technology."For example, success statistics show a double-digit increase in shopping cart size, an email open rate of over 90 percent, a 25 percent reduction in WISMO (Where IS My Order), and a triple-digit increase in customer reviews.
parcelLab was founded in 2015 by Tobias Buxhoidt (CEO), Anton Eder (COO) and Julian Krenge (CTO). Between the Series B and Series C
funding, the scale-up focused on bringing customer experience and transparency to operational processes that have been rather opaque, brittle and frustrating for customers. Operations Experience addresses these issues with a clear focus on the customer, making the shipping process a delightful customer experience and unique selling point for the retailer.
parcelLab is the world's leading platform for operations experience management. The platform automatically transforms data generated at different points in the shipping process - for example, during fulfillment, shipping, delivery, returns processing or in the event of repairs - into personalized, branded messages, turning parcel shipping into a true customer experience. The company accompanies around three million shipments every day and sends out almost seven million proactive, personalized information messages per day as a result. The shipping data comes from more than 150 carriers worldwide, including DHL, FedEx and DPD.
Honored with the Supply Chain Award 2019, the scale-up was also named one of the fastest growing technology companies in Europe in 2020 by the Financial Times.
parcelLab has offices in Munich, London, Paris and New York and - for IKEA, Bose, Puma, Farfetch and Nespresso, among others - transforms contact from order to return into a sustainably positive buying experience.
About Insight Partners.
Insight Partners is a leading global venture capital and private equity firm that invests in high-growth technology and software scale-up companies driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and raised more than $30 billion in capital commitments through a series of funds. Insight's mission is to find, fund and successfully partner with visionary leaders by providing them with practical, real-world software expertise to drive long-term success. Through its people and portfolio, Insight fosters a culture based on the belief that scale-up and growth create opportunities for all.
About Endeit Capital.
Based in its home markets of the Netherlands and Germany, Endeit Capital specializes in investing in tech scale-ups that have grown out of early stage and are transitioning to scale-up. Endeit supports these companies with capital and management advice to reach the next stage of growth. In doing so, Endeit's partners draw on their broad experience in expanding and internationalizing companies through buy & build, as the founders have successfully done in building Endemol, the world's largest independent production company. Responsible investing is paramount: no financial engineering in portfolio companies, but a focus on the social aspects of corporate governance. Endeit is a co-signatory of the United Nations Principles for Responsible Investment (UN PRI). With currently 500 million Euros of assets under management, Endeit has 11 companies in 7 countries in its active portfolio. Current and former portfolio companies include Bux, 3D Hubs, Gastrofix, Comtravo, Contorion, Chronext, Tourradar, Smartclip, Roamler, Albelli, MetrixLab, Unamic, Eyeworks, Blis, Unruly and Leadfeeder.
About Capnamic Ventures.
Capnamic Ventures is one of Europe's leading early-stage venture capital investors, based in Cologne and Berlin. The VC's investment focus is on technology startups in German-speaking countries. In addition, Capnamic invests with international co-investors. All portfolio companies are supported by Capnamic's global industry network.
The extensive know-how of the Capnamic team is based on more than 80 investments, numerous successful trade sales and IPOs as well as own entrepreneurial experience in the investment team. Capnamic is led by Jörg Binnenbrücker (@bibrue), Olaf Jacobi (@olafjacobi) and Christian Siegele as Managing Partners.
coparion is a venture capital investor for young, German technology companies and contributes to fast and sustainable growth. It supports entrepreneurial vision with our know-how - but without interfering in the operational business. With many years of experience in venture capital and in building companies, they recognize potential and open up new perspectives. They bring the substance, stamina and creativity to successfully master even difficult situations together. With a fund volume of 275 million euros, coparion supports some of the fastest growing German technology companies such as Clark, Bitwala, Finoa, Grover, Holidu, Neodigital, parcelLab and Zeotap. Per company, coparion invests up to €15 million, usually in several financing rounds of €0.5-8 million each. In doing so, they are flexible and can invest individually from smaller to larger volumes in each development phase.
Anton Eder (COO)
Tel.: +49 1728242022
Saskia Müller PR & Events
Tel.: +49 178 342 15 67
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