Singapore-based delivery experience platform Parcel Perform has secured a total of US$20 million in a series A investment that was spearheaded by Cambridge Capital. Softbank Ventures Asia and existing backers Wavemaker Partners and Investible have also joined the round.
Parcel Perform assists e-commerce firms in optimizing their logistics operations with data integrations, parcel tracking, delivery notifications, and logistics performance reports in real time.
Parcel Perform is co-founded by Arne Jeroschewski, who previously led unicorn Zalora. The platform currently manages over r100 million parcel tracking updates on a daily basis. The company claims to be profitable, with revenue growing over 5 times since the start of the Covid-19 pandemic.
With this fresh funding, the company has plans to build out its technology offerings and invest in artificial intelligence solutions. This includes scaling its proprietary Date of Arrival prediction engine, which will allow customers to know exactly when their parcels will arrive. The company also hopes to add 50 more employees globally by the end of the year.
Parcel Perform has also recently expanded its business-to-consumer website, Parcel Monitor into a global community page that provides free access to logistics data insights for e-commerce logistics professionals. Parcel Monitor was originally a tracking service for customers. It has offices in Singapore, Vietnam, and Germany.