The funding will help SendCloud expand globally, particularly within the UK. Here are the top-line bullets you need to know.
SendCloud, a shipping-as-a-service platform for retailers, has raised $177M in a Series C with participation from SoftBank Group, L Catterton, and HPE Growth Capital.
HOW’S THE COMPANY PERFORMING?
- Netherlands-based SendCloud automates the entire shipping process, from label creation to packing & pick-up to tracking to returns.
- It has more than 50 integrations and 35 carriers that connect to over 400,000 service points in Europe. Some of the integrators are Shopify, Amazon, and Magento. Its carrier partners include DHL, UPS, and GLS.
- The company caters to more than 23,000 businesses located across the UK, France, Belgium, Spain, the Netherlands, and other European countries. Its clients include Rosefield, Subdued, Suit Suit, and Ledstores.
- It reported a 133% annual increase in parcel volume this year.
- SendCloud has 400 employees across offices in the UK, the Netherlands, and Germany.
WHY DOES THE MARKET MATTER?
- The shipping software market is projected to grow at a CAGR of 9% to reach a value of $5B by 2030, according to Transparency Market Research.
- The Covid-19 pandemic has accelerated the demand for online shopping, which has pushed organizations to implement a variety of digital technologies to improve delivery performance and the overall e-commerce experience.
- The shipping industry is adopting new technologies that utilize artificial intelligence (AI), machine learning (ML), robotics, and drones in order to enhance operational efficiency.