Funding round
Perk Series B
Perk, which works in travel and spend management platform solutions in Boston, raised $21M in a Series B round announced on 11 Apr 2018, led by Target Global and Felix Capital. 7 firms took part. It is Perk's second venture round on record; the one before was a Series A in Jun 2016.
$21M
Amount raised
Not disclosed
Post-money valuation
7
Investors
2 leads
Valuation
What this round says about the price
Perk did not disclose a valuation in this round. It came 22 months after Perk's Series A. It is 4.3% of the $491M Perk has raised in the venture rounds on record. Perk raised again 6 months later: a Series C round of $44M in Oct 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 9 Jun 2016, led by Spark Capital $7.0M
- Series B this round 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
Target Global and Felix Capital led the round with 5 other firms.
Lead investors
- Target Global new investor
- backs 63 venture-backed companies new investor
Also in the round
- Spark Capital backs 234 venture-backed companies new investor
- backs 19 venture-backed companies new investor
- backs 42 venture-backed companies new investor
- LocalGlobe new investor
- backs 54 venture-backed companies new investor
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
441 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $19M, and this round was close to the median. The closest in time, other companies' Series B rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 11 Apr 2018 | $36M | not disclosed | New Enterprise Associates and Amgen Ventures |
| Armis Tech Companies | 9 Apr 2018 | $30M | not disclosed | Red Dot Capital Partners |
| Tech Companies | 9 Apr 2018 | $30M | not disclosed | Highland Europe |
| Tech Companies | 10 Apr 2018 | $20M | not disclosed | Scale Venture Partners |
| Tech Companies | 13 Apr 2018 | $20M | not disclosed | Sapphire Ventures |
| Tech Companies | 24 Apr 2018 | $20M | not disclosed | TLV Partners |
| Tech Companies | 12 Apr 2018 | $16M | not disclosed | Vertex Ventures and Insight Partners |
| Tech Companies | 12 Apr 2018 | $15M | not disclosed | BMW i Ventures |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Perk raise in its Series B round?
Perk raised $21M in its Series B round, announced in Apr 2018.
Who led Perk's Series B round?
Target Global and Felix Capital led it, with Spark Capital, Sunstone Life Science Ventures, Amplo, LocalGlobe and Heartcore Capital.
What was Perk's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Tech Companies?
441 Series B rounds in Tech Companies within a year either side disclosed an amount; the median was $19M, and this round was close to the median.
Did Perk raise again after this round?
Yes: a Series C round in Oct 2018 of $44M.