Post-Purchase Experience startup parcelLab closes $112M Series C funding
Munich-based startup parcelLab has successfully raised $112 million in a Series C funding round led by US venture capital/private equity firm Insight Partners. German co-investor Endeit Capital also participated in the funding round, along with existing investors Capnamic Ventures and coparion. Prior to this latest round of funding, the company secured an undisclosed amount in a Series B round in October 2019. The latest injection of capital will be used to fuel the company's global expansion plans and develop new products such as self-service returns, retail returns marketing, and delivery prediction. With a particular focus on self-service returns, which allows customers to conveniently return products, parcelLab aims to elevate the platform to further build on customer satisfaction and loyalty.
parcelLab was founded in 2015 by Tobias Buxhoidt (CEO), Julian Krenge (CTO), and Anton Eder (COO). Initially, parcelLab only offered post-purchase communications and branded order tracking pages but has since evolved into a fully global post-purchase experience platform that brings people and brands closer together. It counts H&M, Chico’s, Bose, Lidl, and many more among its clients, providing them with automated personalized post-purchase communication that leads to an 85% return rate to the retailer's website. The startup also works with Ikea and Farfetch to increase basket sizes and email open rates, as well as reduce where is my order (WISMO) complaints and encourage customer reviews.
According to Tobias Buxhoidt, CEO and founder of parcelLab, providing unique and branded experiences is critical for growth as e-commerce becomes increasingly competitive. Christian Schulte, managing director at coparion, noted that the company sees parcelLab as having the potential to transform how brands and people connect. Endeit Capital recently raised a €250 million fund to invest in B-stage European startups, making this its most recent capital deployment. Philipp Schroeder, a partner at Endeit, stated that parcelLab's team embodies the kind of internet entrepreneurs the firm wants to support to make Europe more competitive and become the global market leader.
parcelLab is the primary alternative to Narvar, a US-based company that has raised $64 million in funding, with its last round being a Series C funding. parcelLab's powerful features make it the go-to platform for brands looking to improve their post-purchase experience. One of these features grants the ability to manage failed deliveries, which can be a significant pain point for retailers. Through custom post-purchase communication journeys, businesses can automatically send order confirmation and out-for-delivery alerts, giving customers the in-the-moment information they need to reschedule or reroute their orders.
In addition, the platform enables brands to add order status pages directly to their websites. By tailoring these pages to match their distinct brand identity, businesses can create a seamless and cohesive buying journey for customers from start to finish. These pages also provide a valuable opportunity for brands to integrate marketing campaigns, foster community engagement with social media efforts and recommend related products to customers.
The recent success of the Series C funding round is a testament to the confidence investors have in the startup’s ability to deliver innovative and customer-centric solutions in the future. More than just a post-purchase experience platform, online retailers can rely on parcelLab as a strategic partner to drive customer satisfaction and revenue growth.