Bayern Kapital investment parcelLab closes USD 112 million Series C financing round
After its successful expansion in Europe, Munich-based grow-up parcelLab is now keen to expand its influence in the USA. The founders secured financial support as part of their Series C financing from renowned US investor Insight Partners, among others.
The customer experience when buying online doesn’t stop after clicking the order button. In 2014, the Munich-based company parcelLab launched a customizable platform that takes post-purchase customer experience to a new level. Retailers can identify and optimize the most emotional touchpoints during the shipping process – from when the parcel leaves the fulfilment center to doorstep delivery and returns handling.
With its Operations Experience Management platform, parcelLab not only improves the customer’s shipping experience, but also creates various new touchpoints between people and brands. More than 500 retailers and manufacturers, including brands such as Ikea, Lidl and Nespresso, have already partnered with parcelLab to take control of their end-to-end customer experience.
Bayern Kapital, the venture capital organization of the State of Bavaria, was also quick to recognize and support the potential of the Munich-based company. Bayern Kapital was the first outside investor to join the start-up at an early stage.
“We met Bayern Kapital Managing Director Roman Huber at a Bavarian start-up event,” parcelLab co-founder Anton Eder recalls of the first meeting, “The investors believed in us right away, supported us with money early on and trimmed us down to keep an eye on the right KPIs right from the start.”
With their intuition, the Bavarian investors were right. In 2021, parcelLab was named one of Europe’s 1,000 fastest growing companies by the Financial Times. CBInsights included parcelLab in its “Retail Tech 100” list in 2020. The final accolade came in the latest Series C funding round: In mid-May 2021, parcelLab announced a closing of 112 million US dollars. Led by New York-based venture capital provider Insight Partners, well-known investors such as Endeit Capital took a stake in the Munich-based start-up. Existing investors, including Capnamic Ventures and Coparion, also increased their holdings.
With the additional financial support, parcelLab no longer wants to limit itself to the European market, but also aims to disrupt the US logistics market. In addition, the Munich-based company also plans to optimize returns customer experience in with an innovative returns portal. The management also wants to onboard additional employees, who – in the future –will also be able to work remotely from all over the world.