Paccurate Raises $8.1 Million Series A Round
HPA is excited to announce our investment in Paccurate’s $8.1M Series A Round, which was led by High Alpha, and includes co-investors Grand Ventures, Springtime Ventures, Las Olas Venture Capital, Tech Square Ventures, and Royal Street Ventures.
Paccurate is a parcel intelligence platform specializing in packing optimization. Paccurate’s platform helps shippers identify their ideal carton suite and enables them to pack orders efficiently. Brands and 3PLs are saving up to 15% on transportation costs and reducing their carbon footprints.
“The next big shift in supply chain efficiency is simply smarter packing,” said James Malley, Paccurate Co-Founder and CEO. “Packing and packaging decisions should be informed not just by empty space, but also by external cost factors like carrier rates, labor, materials and more. Paccurate is the first to provide companies a single platform to identify ideal packaging sizes, and generate packing instructions based on their unique cost factors — saving more money and reducing waste.”
As e-commerce continues to grow, and pressure mounts for companies to reduce shipping costs and hit environmental, social and governance (ESG) goals, Paccurate’s patented technology enables smarter packing decisions for businesses that both lower costs and enhance sustainability efforts.
“When a 3PL manages hundreds of clients, each representing a diverse array of commodities, selecting the optimal packaging for each customized shipment becomes a complex challenge, often causing bottlenecks in the supply chain.” said Scott Simanek, HPA Deal Lead. “Paccurate’s platform streamlines the thousands of daily boxing decisions a 3PL would typically need to make, optimizing the process with a reliable, technology-driven solution.”
Paccurate’s patented technology includes a lightweight API that suggests the optimal packing solution for every shipment. Shippers can also leverage PacSimulate, a powerful analysis tool that identifies ideal carton mixes or other packaging types, and measures the impact of changes to warehouse automation. The complete platform lowers shipping costs, reduces waste and ensures compliance with emerging regulatory requirements for packing efficiency.
With the new funding, Paccurate will continue to enhance and build upon platform capabilities and features, forge new partnerships with prominent solution providers, and support its growing customer base.
On behalf of HPA, we congratulate the Paccurate team for this accomplishment! We are excited to support the company’s continued growth.
HPA Deal Lead Scott Simanek will continue to support Paccurates’s growth as an advisor. Scott is an experienced Chief Commercial Officer with a demonstrated history of working in the logistics and supply chain industry. Scott is currently the Chief Commercial Officer of Unis, an asset-based 3PL fulfillment and transportation company representing 25M+ square feet of space and delivering 100,000+ ecommerce and retail orders per day.
Read more about it here: Techcrunch News Article and Press Release