Scurri reveals €2.2mi n‘high calibre’ funding
ONE OF Wexford’s most progressive businesses, Scurri, has announced €2.2 million in funding from ACT Venture Capital, Episode 1 Ventures, Enterprise Ireland and private investor Pa Nolan.
Rory O’Connor, CEO and founder of Scurri - an award-winning, cloud based delivery management platform making personal delivery simple for eCommerce Merchants - said he was delighted that the company has secured further funding from experienced and high-calibre investors who share Scurri’s vision and ambitious plans.
‘ This investment is a testament to the hard work of the Scurri team and the funding will be used to focus on the next stage of our exciting growth plans. Our success so far has been due to our unrelenting focus on making personal delivery simple.’
Mr O’Connor said Scurri is currently used on a daily basis by many thousands of merchants ‘for whom we are making it easy to facilitate delivery choice for their consumers.’
John O’Sullivan, of ACT Venture Capital said Rory and his team have done a great job in building Scurri. ‘ The original investment fuelled the Scurri team to refine the concept and product market fit. The revenue growth over the past 18 months is evidence of the market potential and execution capability of the team, in a very large market. This new investment funds the next stage in scaling Scurri,’ he said.
Earlier this year Scurri was successful in win- ning a contract with a Global eCommerce giant.
Damien Lane of Episode 1 Ventures said: ‘We invested in Scurri because we see the continued growth of a company solving the problem of improving delivery choices for online merchants.
‘Some of our team were involved with Shutl who were acquired by eBay, so we have a deep understanding of the problems online retailers encounter when implementing delivery solutions.’
Scurri also secured a multi million, five year deal with Fastway and Parcel Connect, in November 2015.
Original investor Pa Nolan expressed his continued support for Scurri:
‘When Scurri first came to my attention I was impressed by the gap in the market they were addressing. I am passionate about companies who improve customer satisfaction. This investment will be directed towards fulfilling the needs businesses that impact the online consumer and ultimately the bottom line of companies that use the Scurri Platform.’
This funding round of €2.2 million was completed in two tranches in 2017, with the second tranche closing in recent days. Scurri has seen a three-times growth in transactions in the last year and currently employs 27 people. Scurri plan to hire up to 10 staff in a variety of roles including Software Engineers and various Product, Support, Sales and Marketing roles.