Online logistics company Scurri has secured a further €1.5 million from existing investors to accommodate accelerated growth due to the pandemic.
The Wexford-based company, which has now raised €8.5 million to date, has seen a 55 per cent jump in delivery volumes since the onset of lockdown restrictions.
Founded by Rory O’Connor in 2010, Scurri has developed a delivery management platform that makes it easier for online retailers to ship to customers.
Its technology helps ensure the safe delivery of millions of parcels each month for companies that include Ebay and Ocado. The company's platform selectis the most effective delivery options, creates accurate labels, trackspackages and provides analytics for merchants.
Scurri, which was recently named among the top 50 global retail tech startups, is to use the additional funding to fast-track a number of key strategic hires across engineering, product, support, sales and marketing. This comes as the company looks to expand into new territories. The company currently derives the majority of its revenues from the UK.
The latest financing was secured from Irish VC Act Venture Capital, London-based Episode 1 Ventures and Pa Nolan, an Irish tech veteran who has backed numerous indigenous start-ups including Deposify, Treemetrics, Orecco and Wazp.
Speaking to The Irish Times, Mr O’Connor said the pandemic had led to a boom in ecommerce, with Scurri’s market now “years ahead where it would have been pre-Covid”.
“We didn’t really need to raise money at this stage but you’re always looking at ways to accelerate growth, and a relatively small amount goes a long way because we’re doing so well at the moment.”
The company has recently moved into the German market through one of its existing customers, and has opportunities in the US.
“There is still huge potential in Ireland and Britain for us so we’re going to try and capitalise on that first. But we are also entering into a number of other markets through our clients, and plan to expand this,” said Mr O’Connor.