Scurri gets€1.5m investmentboost
WEXFORD-based software provider Scurri has announced a further €1.5 million investment in order to support its continued growth.
Scurri, which provides software to connect and optimise the e-commerce ordering, shipping and delivery process, has seen another significant cash injection from existing investors and associates, including Act Venture Capital, Episode 1, Pa Nolan and others.
This latest investment brings the Wexford town-based company’s total funding to €8.5 million to date.
Scurri found itself even busier during lockdown, seeing a 55% increase in delivery volumes since the onset of restrictions. The new growth opportunities provided by this have speeded up growth plans for the company. As a result, Scurri is now fast-tracking several key strategic hires over the next six months to accommodate this growth and expand into new territories.
The company, which derives most of its revenue from the UK, helps power millions of parcel deliveries each month for companies by allowing the merchants to select the most effective delivery option for each package.
The platform allows retailers, through a vast array of carriers, to create accurate labels and track shipments from dispatch to delivery.
Scurri enables businesses to ship their products anywhere in the world through its network of carrier integrations. Its customers include eBay, Ocado, Vision Direct and Gousto.
Speaking about the latest round of funding, CEO and founder of Scurri, 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.’
Despite the slowed growth in other sectors as a result of the pandemic, he described the e-commerce sector as ‘ booming’.
‘ The market for Scurri has now greatly increased and is years ahead of where it would have been preCovid.
‘We are in a very fortunate position and excited about what the next 12 months will bring.’
Mr O’Connor levelled praise on his staff at Scurri, who he said have done an ‘amazing’ job against the difficult backdrop of Covid-19.
‘We are 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.
‘We are delighted to have the opportunity to now grow that team further as we move on to our next phase of growth,’ he said.