Singapore's logistics tech startup Parcel Perform raises $20 million ' TechCrunch

Singapore-headquartered Parcel Perform, which connects merchants with e-commerce carriers and provides shipment tracking features, said on Wednesday it has raised $20 million in a new financing round as it scales its business in several parts of the world.Cambridge Capital was the lead investor in the Series A financing round for logistics startups, while SoftBank Ventures Asia and existing shareholders including Wavemaker Partners (Investible) also participated.Parcel Perform's SaaS startup improves the customer experience when engaging with carriers, said Dr. Arne Jeroschewski (co-founder and chief executive at Parcel Perform) in an interview with TechCrunch.Parcel Perform is used by Nespresso to access logistics data. Jeroschewski said that tracking information such as a web page to track, an authentication system, and a web page are all based on the data. The startup also offers tools for customer service.Parcel Perform provides merchants with the tools to establish additional touchpoints with customers after they have completed their checkout. This can help them build brand loyalty and increase the likelihood of moving more inventories. It has also created a system that supports more than 30 languages in order to provide the best customer experience. According to Parcel Perform, businesses that use its platform have seen a 40% increase in customer lifetime value.The startup is now profitable and has seen its revenue grow by 5x since the outbreak of the pandemic. It also uses its AI stack for predictions about when customers will receive their parcel. Parcel Perform integrates with more than 700 carriers and handles over 100 million parcel updates per day.In this age of ecommerce, visibility is an essential market. We evaluated many companies around the world and found Parcel Perform to be the most visible and user-friendly. Parcel Perform has created a unique value proposition to brands, markets, and carriers with the best solution for tracking shipment movements from beginning to end, stated Benjamin Gordon, Managing Partner at Cambridge Capital. Cambridge is a global logistics and supply-chain technology company that focuses solely on this topic.Jeroschewski and Dana von der Heide co-founded the startup. Jeroschewski was previously the co-founder of e-tail unicorn Zalora. He also held senior positions in Singapore Post, DHL and where he worked with Dana. Dana is an advisory member of DHL and the German Logistics Association.Jeroschewski stated that Parcel Perform will use the new funds to scale up in Asia and Europe, and also establish a North American regional office. Parcel Perform is also seeking to increase its workforce.