Wexford, Ireland-based Scurri is a cloud-based software provider connecting and optimising the e-commerce ordering, shipping, and delivery process. It has announced that it has raised €9M in a fresh round of funding. And with this fundraise, the company has now raised a total of €15.3M in funding, to date.
Investors in this round
The round is led by Gresham House Ventures. In addition, existing investors also participated in this round including family offices represented by Millview advisory, Pa Nolan, and others.
Speaking on the development, Thomas Makey, Investment Director at Gresham House says, “Our expertise lies in identifying differentiated businesses targeting large markets through disruptive business models. Scurri has seen consistent strong growth in recent years, offering online retailers levels of functionality previously only available to the largest players.”
Delivery management platform for merchants, platforms and 3rd party logistics
E-commerce is growing rapidly as more and more consumers choose the convenience and simplicity of doing their shopping online. In recent times, many platforms are helping merchants develop their front end proposition in order for them to attract more customers.
However, it gets really tricky for the merchants when they see a surge in orders and they have to cope up with fulfilment as well as learning how to scale, trying to integrate with several carriers for domestic or international sales, for small packets or large.
This is where Scurri steps in. The company claims to take away that complexity and add value at multiple stages along the ecommerce journey: from helping get the purchase over the line in the basket, to selecting the most effective delivery option for each package, creating accurate labels, tracking the packages, and running analytics to deliver insight to support process improvement. This allows merchants to focus on growing their business.
The company was founded in 2010 by Eugene Crehan, Josephine O’Connor, and Rory O’Connor.
Capital for growth
Scurri mentions in a statement that, both its business – transaction volume and value, are now in excess of 100 per cent annual growth and hence the company has now moved into profitability ahead of schedule.
Speaking about the latest funding round, CEO & Founder of Scurri, Rory O’Connor says, “Since our inception in 2010, and especially over the past 5 years, we have grown into a trusted delivery management platform with a growing list of blue chip and fast growth companies with operations across the globe.”
“The pandemic and the resulting acceleration of e-commerce adoption as well as trading and logistic complexities arising from Brexit have essentially resulted in significantly increased demand for reliable delivery management software and solutions. For Scurri this effectively represents a number of years’ advancement of the UK market in terms of online penetration and hence our need to now advance our growth and investment plans,” he adds.
Scurri claims to derive over 70 per cent of its revenue from the UK, and will power over 100 million parcel deliveries this year by offering merchants an efficient delivery option through its more than 700 carrier services. Hence, to fulfill this demand, the company will use the funds to accelerate UK market presence as well as increase headcounts to over 120 employees across engineering, product, support, sales and marketing in the next two years . The company currently employs 45 people.
With its growth in online shopping in the UK and Ireland, Scurri has opened offices in London, and the Scurri technology now manages in excess of 100 million parcel deliveries annually for e-commerce merchants including eBay, Everything 5 Pounds, Vision Direct and Bulk Powders to name a few and are integrated with delivery partners such as UPS, Royal Mail, An Post, DHL, TNT, DPD, Yodel, Hermes and many more.