06 Nov 2017 | 04.41 pm
Scurri Raise €2.2m From Investors
Backers include ACT Venture Capital, Episode 1 Ventures and Enterprise Ireland
06 Nov 2017 | 04.41 pm
Wexford e-commerce software company Scurri has raised €2.2m in funding from Enterprise Ireland, ACT Venture Capital, Episode 1 Ventures, and private investor Pa Nolan so far this year in two tranches, the second closing last week.
The company said it will use the funding to implement its expansion plans, which include hiring ten staff including software engineers, support staff and marketres. Scurri provides online software which makes personal delivery simple for e-commerce companies.
Scurri’s technology is now used for millions of parcel deliveries for retailers such as O’Neills, lovehoney, Vision Direct and Gousto, and is integrated with delivery partners such as UPS, Royal Mail, DHL, TNT, DPD, Yodel and many more.
The company was set up in 2010 by Rory O’Connor and Eugene Crehan, and previously raised €600,000 in funding in 2013, through the South East Business Innovation Centre, when EI invested €75,000. Other investors on that occasion were A&G Couriers and Napier Couriers (Fastway franchise holders).
O’Connor commented: “I am delighted that we have secured further funding from experienced investors of this calibre, who share our 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. Scurri is used daily by many thousands of merchants, for whom we are making it easy to facilitate delivery choice for their consumers. I am looking forward to the next exciting stage in our evolution.”
John O’Sullivan of ACT Venture Capital said: “The original investment fueled the Scurri team to refine the concept and product market fit. 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.”
Transactions handled by Scurri software have tripled in the past year, the company says. Employing four at the time of the previous funding round, the company now employs 27 people.