Ireland-based Scurri is a cloud-based software provider that connects and optimises the e-commerce ordering, shipping, and delivery processes. In a recent development, the company announced that it picked up €9 million (nearly £8 million) in Series A funding.
Eyes to accelerate growth in the UK
The investment round was led by Gresham House Ventures along with participation from existing investors, including family offices represented by Millview advisory, Pa Nolan and others. This brings the Wexford-based company’s total funding to €15.3 million (nearly £13.2 million) to date.
Scurri will use the investment to accelerate growth in the U.K. market. Despite the effect caused by Brexit, Scurri currently derives over 70% of its revenue from the UK and eyes to power over 100 million parcel deliveries this year. Currently employing 45 people, Scurri plans to triple their workforce to over 120 employees in the next two years across Engineering, Product, Support, Sales and Marketing teams.
Speaking about the latest funding round, CEO and Founder of Scurri, Rory O’Connor stated: “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 eCommerce 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.”
Speaking on their investment decision, Thomas Makey, Investment Director, Gresham House said: “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. Led by a high-calibre management team, Scurri’s market-leading delivery management platform is well positioned in a structurally growing space, and we look forward to supporting the business in its next stage.”
What Scurri does?
Founded by Rory O’Connor in 2010, Scurri powers millions of parcel deliveries monthly by enabling merchants to present the most efficient delivery option through hundreds of carriers. The platform also allows retailers to create accurate labels, track shipments from dispatch to delivery and provide delivery analytics. Scurri helps businesses ship their products anywhere in the world through its network of carrier integrations.
Following a significant business acceleration in transaction volume and value and exceeding 100% annual growth, Scurri has now moved into profitability ahead of its target. Notably, the company has attained the status of one of the Best Places Workplaces in Ireland despite the upheaval of both the pandemic’s disruption as well as increased trading and logistics complexities fuelled by Brexit.
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