Singapore e-commerce SaaS start-up raises $1.1m seed funding
February 1, 2018
Parcel Perform, a Singapore-based software-as-a-service start-up that enables e-commerce merchants to improve their customers’ checkout experience, has closed an oversubscribed US$1.1m seed funding round.
Wavemaker Partners, one of south-east Asia’s leading venture capital firms, led this round that will help fuel Parcel Perform’s worldwide growth and enable it to expand its product offering. It was joined by 500 Durians, 500 Startups’ south-east Asia fund, as well as existing and new angel investors.
“This is a very exciting time, not only for our growing Parcel Perform team but also for merchants worldwide,” said Arne Jeroschewski, CEO and co-founder of Parcel Perform, pictured with co-founder Dana von der Heide. “Online shoppers are demanding more of e-commerce merchants, especially when it comes to the after-checkout experience. This is where Parcel Perform comes in. We help drive merchants’ growth and improve their customer’ loyalty. This round will allow us to further broaden our reach and product portfolio.”
With a background in e-commerce and logistics, von der Heide and Jeroschewski started their Parcel Perform journey 1.5 years ago. Based out of Singapore and Vietnam, they have built a global tracking service covering more than 570 carriers and 20 languages.
Recognising that there’s more to e-commerce than just the right products and the best web shop experience, the team helps e-commerce merchants build trust and long-lasting relationships with their customers.
Parcel Perform’s self-service software provides merchants with a branded tracking page for all their global and local carriers and offers them the opportunity to send shoppers continuous updates about the status of their shipment in real time. Merchants also have access to a customer service interface and an intuitive and actionable analytics to compare their carriers’ performance worldwide.
“We are thrilled to have Parcel Perform as part of our growing portfolio,” said Paul Santos, managing partner of Wavemaker. “Given the stage of our investments, we like to work with founders who have deep domain expertise. This is perfect given Arne's and Dana's experience in the e-commerce and logistics space. Where other companies focus on the pre-sale, Parcel Perform has found a large opportunity in helping companies improve the post checkout experience, starting with the tracking business.”
Vishal Harnal, partner at 500 Startups, added: “Arne and Dana have built a company that sits at the intersection of three booming trends – the unprecedented growth and competitiveness of global e-commerce, the near obsession with customer experience and loyalty, and the willingness of merchants to outsource and pay for quality logistics services.”
With customers throughout the USA, Europe, Oceania and south-east Asia, Parcel Perform aims to drive higher customer loyalty, reducing customer service cost and enabling smarter decision-making around logistics. Through its B2C service Parcel Monitor, Parcel Perform also provides free tracking for end consumers.