Scurri has raised €1.5m to support growth, following increased demand for its e-commerce solution during the Covid-19 pandemic.
Today (30 June), Irish e-commerce software provider Scurri announced that it has raised a further €1.5m in funding to support continued growth. To date, the Wexford-based start-up has raised a total of €8.5m.
Investors in the latest funding round include Act Venture Capital, Episode 1, Pa Nolan and angels investors.
Since the onset of Covid-19 restrictions, Scurri said that it has seen a 55pc increase in delivery volumes, in line with the current and long-projected boom in the e-commerce sector. The firm said that new opportunities as a result of the pandemic have accelerated its growth plans.
With support from investors, Scurri is now fast-tracking several key strategic hires over the next six months to accommodate this growth, with longer-term plans to expand into new territories.
Recently featured as a Start-up of the Week on Siliconrepublic.com, Scurri has developed a cloud-based logistics platform designed to meet e-commerce business needs.
It helps users select the most effective delivery option for each package, while providing tracking from dispatch to delivery, among other services. The company’s customers in the UK and Ireland include eBay, Gousto and Vision Direct.
Scurri said that it currently derives most of its revenue from business in the UK, where it helps with millions of parcel deliveries each month. Scurri’s platform allows retailers to create accurate labels for shipments and helps businesses to ship their products anywhere in the world through its network of carrier integrations.
Commenting on the latest investment, CEO and founder Rory O’Connor said: “We have very ambitious plans for the company in the next 12 months. For the past seven years Scurri has gone from strength to strength, from start-up to full-service software solutions provider with a growing list of blue chip and fast growth companies in the sophisticated and fragmented UK e-commerce market.”
O’Connor said that the market for the start-up’s product has “greatly increased and is years ahead of where it would have been pre-Covid-19”.
“We are in a very fortunate position and excited about what the next 12 months will bring,” he added.
“We are also extremely proud and thankful to our amazing team here at Scurri who, despite the upheaval the crisis has caused, rose to the challenge and helped ensure the company could capitalise on the growth opportunities that came with the recent accelerated growth in the e-commerce sector.”
Scurri was recently named as one of the top 50 global retail tech start-ups in the Discovery 50 industry ranking by Retail Week and World Retail Congress.