Funding round
Perk Series A
Perk, which works in travel and spend management platform solutions in Boston, raised $7.0M in a Series A round announced on 9 Jun 2016, led by Spark Capital. 3 firms took part. It is Perk's first venture round on record.
$7.0M
Amount raised
Not disclosed
Post-money valuation
3
Investors
1 lead
Valuation
What this round says about the price
Perk did not disclose a valuation in this round. It is Perk's first venture round on record, 1 year after it was founded in 2015. It is 1.4% of the $491M Perk has raised in the venture rounds on record. Perk raised again 22 months later: a Series B round of $21M in Apr 2018. Its next priced round, a Series D in Jan 2022, valued it at $1.30B.
Perk's funding rounds
Perk has 6 venture rounds on record and 3 other deals. This one is highlighted.
- Series A this round 9 Jun 2016, led by Spark Capital $7.0M
- Series B 11 Apr 2018, led by Target Global and Felix Capital $21M
- Series C 16 Oct 2018, led by Kinnevik $44M
- Series D 12 Jan 2022, led by General Catalyst $115M$1.30B post-money
- Growth 23 Jan 2024, led by SoftBank Vision Fund and SoftBank $104M$1.40B post-money
- Debt not a venture round 18 Jun 2024, led by Blackstone and Blue Owl Capital $135M
- Series E 28 Jan 2025, led by Atomico and EQT $200M$2.70B post-money
- Debt not a venture round 3 Jun 2026, led by Neuberger Specialty Finance $300M
- Debt not a venture round 9 Sep 2026, led by NatWest $34M
Investors
Who put money in
Spark Capital led the round with 2 other firms.
Lead investor
- Spark Capital backs 234 venture-backed companies new investor
Also in the round
- backs 19 venture-backed companies new investor
- LocalGlobe new investor
Joined the board: Alex Finkelstein (Spark Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
508 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $6.9M, and this round was close to the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 30 Jun 2016 | $61M | not disclosed | Swiss Re |
| Celonis Tech Companies | 8 Jun 2016 | $28M | not disclosed | Accel and 83North |
| Tech Companies | 28 Jun 2016 | $20M | not disclosed | not named |
| Tech Companies | 2 Jun 2016 | $20M | not disclosed | Fosun Kinzon Capital |
| Tech Companies | 9 Jun 2016 | $15M | not disclosed | TVC Capital |
| Tech Companies | 16 Jun 2016 | $14M | not disclosed | Translink Capital |
| Tech Companies | 1 Jun 2016 | $9.0M | $40M | not named |
| Tech Companies | 30 Jun 2016 | $8.9M | not disclosed | Glass Capital Management |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Perk raise in its Series A round?
Perk raised $7.0M in its Series A round, announced in Jun 2016.
Who led Perk's Series A round?
Spark Capital led it, with Sunstone Life Science Ventures and LocalGlobe.
What was Perk's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
508 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $6.9M, and this round was close to the median.
Did Perk raise again after this round?
Yes: a Series B round in Apr 2018 of $21M.