Scurri closes €9m investment round
15 June 2021 | 0
Scurri has closed a €9 million investment round to accelerate growth in the UK market, following significant retail demand for digital enablement.
A cloud-based software provider, Scurri optimises the e-commerce ordering, shipping, and delivery process. It currently derives over 70% of its revenue from the UK, and will power over 100 million parcel deliveries this year by enabling merchants to present the most efficient delivery option via more than 700 carrier services.
The company currently employs 45 people, and now plans to triple their workforce to over 120 employees in the next two years. Required roles will span engineering, product, support, sales and marketing.
Gresham House Ventures led the investment round. Existing investors including family offices represented by Millview advisory, Pa Nolan and others are continuing to support the company in this round. This brings the Wexford-based company’s total funding to €15.3 million to date.
“Since our inception in 2010, and especially over the past five years, we have grown into a trusted delivery management platform with a growing list of blue chip and fast growth companies with operations across the globe,” said Rory O’Connor, founder and CEO of Scurri. “The pandemic and the resulting acceleration of e-commerce adoption as well as trading and logistic complexities arising from Brexit have essentially resulted in significantly increased demand for reliable delivery management software and solutions. For Scurri this effectively represents a number of years’ advancement of the UK market in terms of online penetration and hence our need to now advance our growth and investment plans.
“We are also extremely proud and thankful to our amazing team here at Scurri who, despite the upheaval of both the pandemic’s disruption as well as increased trading and logistics complexities fuelled by Brexit, rose to this double-e challenge and helped the company capitalise on the growth opportunities. We pride ourselves on our status of one of the Best Places Workplaces in Ireland and we are delighted with the opportunity to now grow that team further as we bring forward our growth plans.”
Thomas Makey, investment director, Gresham House said: “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.”
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