Software startup Scurri outlines ambitious plans to double its revenue by November 2023

Scurri, the e-commerce software startup, expects to double its recurring revenue over the next year and a half, according to its new chief revenue officer.

Ergal O’Carroll, who joined Scurri in December, said the Wexford-based company is also exploring new markets for entry.

“We just released our new mission statement and are essentially doubling our monthly recurring revenue through November 2023,” he said.

Scurri develops software to help online retailers manage their shipping and delivery of goods.

The company is active in Ireland, Great Britain and Germany, but will also be looking beyond the borders over the course of the next year.

O’Carroll said the Nordics are an attractive proposition for the company given the advanced e-commerce markets there, but no final decision has been made yet. Scurri has focused heavily on the UK.

“The UK is a fairly mature online market [shopping]more than other European countries, so it goes well there with the fact that it’s close to home,” he said.

“The British market is very complex.

“There are probably 30 or 40 different delivery services and everyone is different.”

The company’s revenues are divided between medium-sized customers and enterprise customers.

One of the main customers is eBay, which uses the platform for its sellers in Germany and also sells directly to online retailers.

“We have achieved [profitability] early last year. Now with the new investment and then the issuance of that investment, we will likely return to non-profitability,” added O’Carroll.

“If we do it twice [revenue], as we need it, we would probably be profitable by the second quarter of next year. If the trajectory leads there, we should be done by then.”

Scurri raised €9 million in funding last year. O’Carroll said it has no immediate plans to raise additional funds.