Gresham House Ventures has invested €5m into Scurri, a cloud-based software provider connecting and optimising e-commerce ordering, shipping, and delivery.
The investment, made of behalf of the Baronsmead VCTs, is part of a €9m fundraising round that will support the creation of more than 100 jobs over the next two years, grow Scurri’s operations in the UK, and allow them to invest in marketing, sales and product development.
Based in Wexford, Ireland, Scurri powers millions of parcel deliveries a month, enabling retailers to create accurate labels, track shipments from dispatch to delivery and provide useful analytics. Scurri has already secured high-profile customers in the retail space, including eBay, Everything5pounds, Vision Direct, Gousto and many more.
The delivery experience is mission-critical to online retailers, and the dramatic acceleration of e-commerce sales and parcel volumes seen over the past year is here to stay. However, the last-mile delivery market is fragmented, and retailers do not have the time or inclination to build and maintain their own integrations with carriers.
By enabling e-commerce merchants to connect to a wide range of more than 700 carrier services, the Scurri platform provides greater choice and control over the delivery process, along with better visibility over courier performance.
Thomas Makey, Investment Director at Gresham House Ventures, 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. 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.”
Rory O’Connor, CEO and founder of Scurri, adds:
“We have very ambitious plans for the company over the next 24 months. Since inception in 2010, we have grown into a full-service software solutions provider with a growing list of blue chip and fast growth companies. Contrary to other sectors that experienced a growth slowdown as a result of the pandemic, e-commerce is booming – and our market is years ahead of where it was pre-Covid. Being able to arrange customs documentation easily through our platform gives Scurri a distinct advantage and, coupled with the growth of e-commerce, should lead to continued growth in a post-Brexit environment.”
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