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The leading Operations Experience Management platform, parcelLab, announced today that it has secured US$112 million (GB£80 million) in Series C funding led by global venture capital and private equity firm, Insight Partners. Endeit Capital joined as a co-investor as well as existing investors Capnamic Ventures and coparion. The funding will enable the Operations Experience category leader to accelerate its mission of bringing people and brands closer together.
Tobias Buxhoidt, CEO and Founder of parcelLab, said; ‘As e-commerce becomes increasingly competitive, providing unique and branded experiences will drive growth. Identifying opportunities to further connect with people and build a better, stronger relationship is a key differentiator. Brands that are leveraging Operations Experience Management are transforming operational complexity into opportunities to overperform in the market. We’re super excited and proud to be on this journey and looking forward to disrupting new industry sectors with Operations Experience.’
Matt Gatto, Managing Director at Insight Partners, said: ‘We pride ourselves in identifying and investing in software ScaleUp companies that are driving transformative change in their industries. In parcelLab, we see true potential to transform how brands and people connect and we are thrilled to be able to support and spearhead parcelLab’s growth and progression as they lead the Operations Experience management category into new markets and industry sectors.’
parcelLab was founded in 2015 by Tobias Buxhoidt, CEO, Julian Krenge, CTO, and Anton Eder, COO. Between its Series B and Series C funding rounds, parcelLab has focused on bringing customer experience and visibility into operational processes that are traditionally opaque and full of friction and frustrations. The Operations Experience category tackles post-purchase and beyond and brings a true customer obsession into these dimensions.
Endeit Capital, one of Europe’s leading tech scale-up investors is also contributing to this funding round. parcelLab will mark the first investment in their new fund, Endeit Capital III, which will in the coming years invest 250 million euro in Europe’s digital sovereignty. Philipp Schroeder Partner at Endeit commented on what Endeit sees in parcelLab; “The team is on a clear mission to provide their customers with a best-in-class product on a global scale. With our experience in growing businesses to more than 30 countries with a buy & build approach we have a real contribution to make here. parcelLab’s team is the perfect example of internet entrepreneurs that we want to support – entrepreneurs who can drive the change to make Europe more competitive and who have the ambition to become global market leaders.”
Household names such as IKEA, Farfetch and Lidl have partnered with parcelLab to transform their Operations Experiences and boost impressive conversion rates and achievement stats. parcelLab is helping certain customers achieve double-digit basket size increases, email open rates of over 90%, 25% reductions in WISMO (where is my order) and triple-digit increases of customer reviews.
For brands, that means more chances to create relationships that last. And for the people, it means turning mundane operational moments into moments of joy.
This new funding will fuel parcelLab’s global expansion, support new product development and further enhance the progression of its newly released returns portal, which enables brands to deliver a seamless end-to-end returns experience.
As this Operations Experience Management platform continues to grow into new sectors, parcelLab will be looking for great talent across the globe to join its fully remote team. ‘We are excited to bring our tech to new brands and sectors; customer obsession is a business imperative for any product or service in today’s always-on world’ adds Tobias.
parcelLab is the leading Operations Experience Management platform globally. We bring people and brands closer together by closing the experience gap post-sales and beyond, transforming operational complexity into opportunities to outperform for 500+ brands worldwide, including IKEA, Farfetch and Lidl.
With offices in New York, Munich, London and Paris, we have been highlighted by the Financial Times as one of the fastest-growing technology companies in 2020.
It’s all in a day’s work for us:
– Monitoring over three million shipments per day
– Actively managing Operations Experience in 153 countries
– Sending seven million pro-active, personalized, event-driven emails per day or (or 82 communications per second)
– Tracking shipping data from more than 150+ carriers worldwide, including DPD, Royal Mail and Hermes
– Creating over 30 million reasons for people to fall in love with brands every day
For brands, that means more chances to create relationships that last. And for the people that buy from them, it means turning mundane operational moments into moments of joy.
Find out more at parcelLab.com
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp 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 through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
From the home markets of the Netherlands and Germany, Endeit Capital specializes in investing in tech scale-ups that have outgrown the start-up phase. Endeit supports these companies with capital and management guidance to reach maturity. In doing so, Endeit’s partners draw on their broad experience in expanding and internationalizing operations through buy & build, as the founders have successfully done at Endemol. Responsible investing is paramount here: no financial engineering in the portfolio companies, and a lot of attention to the social aspects of managing a business. Endeit is a co-signer of the United Nations Principles for Responsible Investment. Endeit has over the years raised a total of half a billion euro in investment capital and currently has 11 companies in 7 countries in its portfolio. Current and previous Dutch portfolio companies include Bux, 3D Hubs, Roamler, Albelli, MetrixLab, Unamic and Eyeworks. Gastrofix, Comtravo, Contorion, Chronext, Tourradar and Smartclip are investments of Endeit in the DACH region. In the UK the company invested in Blis and Unruly, in the Nordics in Leadfeeder.
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