PARCEL Perform, whose digital platform helps e-commerce players aggregate and analyse logistics data, has raised US$20 million in a Series A round led by supply chain-focused private investment firm Cambridge Capital, with participation from SoftBank Ventures Asia.

Existing investors Wavemaker Partners and Investible also joined the round.

The Singapore-based startup said it will use the fresh funding to build its technology offerings and invest further in artificial intelligence (AI) solutions. This includes expanding its proprietary prediction engine that lets customers know precisely when their parcels will arrive.

Parcel Perform also has plans to establish a regional headquarters in North America and grow its staff size to 150 from 100 by year-end.

The company said it manages over 100 million parcel-tracking updates daily. Revenue has grown five times since the onset of the Covid-19 pandemic.

Parcel Perform added that its software-as-a-service platform has integrated with more than 700 carriers worldwide. Over 40 per cent of the carriers are based in the Asia-Pacific. Brands using Parcel Perform include Nespresso, Decathlon Group and Love, Bonito.

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The startup was co-founded by chief executive Arne Jeroschewski and chief commercial officer Dana von der Heide. Mr Jeroschewski was the co-founder and CEO of fashion e-commerce platform Zalora. He held senior roles at SingPost and worked together with Ms von der Heide at DHL.

Benjamin Gordon, managing partner of Cambridge Capital, said: "Visibility is a vital market in this age of e-commerce. After evaluating many companies worldwide, we believe that Parcel Perform simply offers the best visibility and experience solution. They have built a unique value proposition for brands, marketplaces and carriers, with the most complete solution for end-to-end shipment tracking."