Paccurate, a packing intelligence platform for parcel shippers, announced the closing of an $8.1 million Series A funding. This funding round was led by High Alpha, with participation from Tech Square Ventures, Grand Ventures, Hyde Park Angels, Las Olas Venture Capital, Springtime Ventures, and Royal Street Ventures.
With e-commerce rapidly growing and pressure mounting for companies to reduce shipping costs and ESG goals, Paccurate’s technology enables smarter packing decisions for businesses that both lower costs and enhance sustainability efforts. With the packing intelligence platform, companies like Daily Harvest, Our Place, and Barrett Distribution Centers have reduced Scope-3 emissions, seen up to a 15% reduction in shipping costs, and cut corrugate usage by 14%.
Paccurate’s technology includes a lightweight API that suggests the optimal packing solution for every shipment. And shippers can also utilize 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 this new funding, Paccurate will continue enhancing and building on platform capabilities and features, forging new partnerships with prominent solution providers, and supporting its growing customer base.
KEY QUOTES:
“The next big shift in supply chain efficiency is simply smarter packing. 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.”
-Paccurate Co-Founder and CEO James Malley
“Paccurate has developed an innovative and easy-to-use solution that enables companies to optimally pack parcel orders in real-time. The ability to optimize packing based on detailed cost and material factors has led to significant savings while supporting our ESG environmental initiative. Paccurate is fundamentally changing how we think about packing and shipping in the best way possible.”
-David Mintz, chief supply chain officer for NDC
“Packing optimization is a massive opportunity for shippers and retailers of every size to not only gain an edge in a competitive market but to stay compliant to evolving regulatory requirements for packing efficiency. We’re excited to support James and the Paccurate team as they continue to build upon their differentiated platform and lead the future of packing intelligence.”
-High Alpha Partner Seth Corder
“Retail supply chains are facing extraordinary new challenges as consumer demand for e-commerce continues to surge, and packaging has emerged as a critical focus area. Paccurate’s consistent innovation around packaging optimization is why we’re excited to deepen our partnership with the team.”
-Tech Square Ventures Managing Partner and Founder Blake Patton
