Operations experience management platform parcelLab has secured £80 million in Series C funding.
Founded in 2015 by Tobias Buxhoidt, CEO, Julian Krenge, CTO, and Anton Eder, COO, the London-headquartered company focuses on bringing customer experience and visibility into operational processes that are traditionally full of friction.
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.
The firm says it 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. It is used in 153 countries.
Led by global venture capital and private equity firm, Insight Partners, the round sees Endeit Capital join as a co-investor as well as existing investors Capnamic Ventures and coparion.
parcelLab says the funding will accelerate its mission of bringing people and brands closer together.
“As eCommerce becomes increasingly competitive, providing unique and branded experiences will drive growth,” said Buxhoidt.
“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.”
The new funding will fuel parcelLab’s global expansion, support new product development and further enhance the progression of its newly released returns portal.