parcelLab raises seed funding to expand globally
parcelLab, a startup specializing in post-purchase experiences, secured seed funding from Bayern Kapital and well known business angels such as Florian Huber and others in 2016.
The new funding will be used to fuel the company's global expansion plans and new product development like self-service returns, retail returns marketing, or delivery prediction. Self-service returns, a process for customers to conveniently return their products, is a promising extension to the parcelLab platform to further build on customer satisfaction and loyalty.
Founded in 2015 by Tobias Buxhoidt (CEO), Julian Krenge (CTO), and Anton Eder (COO), parcelLab has transformed post-purchase communication in e-commerce. What began as a service providing post-purchase communication and branded order tracking pages has since transformed into a global post-purchase experience platform that drives customer satisfaction and loyalty for online retailers.
parcelLab's ability to personalize post-purchase communication has enabled it to secure high-profile clients such as H&M, Chico’s, Bose, Lidl, and more. With automated personalized post-purchase communication, parcelLab has recorded an impressive 85% return rate to retailers' websites. Additionally, the startup has partnered with industry giants like Ikea and Farfetch to help them increase basket sizes and email open rates, reduce where is my order (WISMO) inquiries and encourage customer reviews.
parcelLab's appeal to investors
According to Tobias Buxhoidt, the CEO and founder of parcelLab, companies that can deliver a post-purchase experience that resonates with customers will be well-positioned to succeed in the competitive marketplace.
Endeit Capital, a venture capital firm that recently raised €250 million to invest in B-stage European startups, identified parcelLab as a promising startup with the potential to become a global market leader. Philipp Schroeder, a partner at Endeit, praised the parcelLab team, saying that they embody the kind of entrepreneurs the firm wants to invest in to make Europe more competitive. parcelLab is rapidly emerging as a primary alternative to Narvar, a US-based company that has raised $64 million in funding so far.
The parcelLab approach to post-purchase success
For brands seeking to improve their post-purchase experience, parcelLab is the go-to platform. One of its most popular features is the ability to manage failed deliveries, a common pain point for retailers. Using custom communication journeys, companies can send order confirmation and out-for-delivery alerts to customers in real time, enabling them to reschedule or reroute their orders without delay.
The platform also empowers brands to add order status pages directly to their websites, tailored to match their unique brand identity. This capability creates a seamless and cohesive customer journey from start to finish while allowing businesses to integrate marketing campaigns, foster community engagement with social media, and recommend related products to customers.
The success of parcelLab's recent Series C funding round reflects investors' confidence in the startup's ability to deliver innovative solutions in the future. Beyond being a post-purchase experience platform, parcelLab is a strategic partner for online retailers seeking to drive customer satisfaction and revenue growth.
Jan 01, 2021 by Florian Huber