parcelLab, the Operations Experience Management platform, secures $112M to help global brands deliver a seamless experience
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.
Find out more at parcelLab.com
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