ParcelLab raises 92 million euros
ParcelLab, which offers a post-purchase customer experience for online retailers, has raised 112 million dollars (92 million euros) in a Series C funding round led by Insight Partners. With the money, ParcelLab wants to expand globally and enhance the progression of its newly released returns portal.
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According to Endeit Capital, which contributed to the funding round, the ParcelLab team is on a clear mission to provide their customers with a best-in-class product on a global scale. “Their 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”, Philipp Schroeder, partner at Endeit, comments.
ParcelLab wants to become a global market leader.
The company was founded in Germany in 2015 to offer an online solution for parcel monitoring as well as targeted customer communication during the delivery process. Well-known brands such as Ikea, Farfetch, and Lidl have partnered with ParcelLab to transform their operations experiences.
Fuel the global expansion
With the fresh funding, ParcelLab wants to fuel its global expansion, support new product development, and further enhance the progression of the returns portal, which it recently released. The German company will also hire more people to join its (fully remote) team. The company currently has offices in New York, Munich, London, and Paris.
Monitoring 3 million shipments per day
Every day, ParcelLab monitors over three million shipments per day, actively manage the operations experience in 153 countries, send around seven million emails, and track shipping data from over 150 carriers worldwide.