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- The 8.1 million round of funding was led by venture firm High Alpha with participation from Tech Square Ventures, Grand Ventures, HPA (Hyde Park Angels) and more.
- Paccurate’s patented technology combines advanced cartonization with simulation and monitoring tools, lowering fulfillment costs, reducing waste and ensuring compliance with emerging regulatory requirements for packing efficiency.
- Early customers include large retailers and shippers such as Daily Harvest, Our Place and Barrett Distribution Centers.
New York, NY – October 22nd, 2024 – Paccurate, the packing intelligence platform for parcel shippers, announced today the closing of an $8.1 million Series A funding. The round was led by High Alpha, with participation from Tech Square Ventures, Grand Ventures, HPA (Hyde Park Angels), Las Olas Venture Capital, Springtime Ventures and Royal Street Ventures.
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. Using 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%.
“The next big shift in supply chain efficiency is simply smarter packing,” said Paccurate Co-Founder and CEO James Malley. “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’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.
“Paccurate has developed an innovative and easy-to-use solution that enables companies to optimally pack parcel orders in real time,” said David Mintz, chief supply chain officer for NDC. “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.”
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.
“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,” said High Alpha Partner Seth Corder. “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.”
Tech Square Ventures Managing Partner and Founder Blake Patton added, “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.”
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About High Alpha
Based in Indianapolis, High Alpha creates, launches, scales and invests in exceptional enterprise B2B software companies across North America. The High Alpha portfolio of over 90 companies includes leading cloud companies Logik.io, Attentive, SalesLoft, Zylo, LogicGate and more. For more information, visit highalpha.com or follow @highalpha.
About Paccurate
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. For more information, visit paccurate.io.
