Funding round
Perk Series C
Perk, which works in travel and spend management platform solutions in Boston, raised $44M in a Series C round announced on 16 Oct 2018, led by Kinnevik. 10 firms took part, 7 of them already investors. It is Perk's third venture round on record; the one before was a Series B in Apr 2018.
$44M
Amount raised
Not disclosed
Post-money valuation
10
Investors
1 lead
Valuation
What this round says about the price
Perk did not disclose a valuation in this round. It came 6 months after Perk's Series B. It is 9.0% of the $491M Perk has raised in the venture rounds on record. Perk raised again 39 months later: a Series D round of $115M in Jan 2022, at $1.30B post-money.
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 11 Apr 2018, led by Target Global and Felix Capital $21M
- Series C this round 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
Kinnevik led the round with 9 other firms. Kinnevik, Felix Capital, Target Global and Spark Capital and 3 more had backed Perk before.
Lead investor
- Kinnevik backs 55 venture-backed companies existing investor
Also in the round
- DST Global backs 179 venture-backed companies new investor
- Tom Stafford new investor
- backs 63 venture-backed companies existing investor
- Target Global existing investor
- Spark Capital backs 234 venture-backed companies existing investor
- LocalGlobe existing investor
- backs 19 venture-backed companies existing investor
- backs 42 venture-backed companies existing investor
- Suntone
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
228 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 1.3 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 17 Oct 2018 | $200M | $1.00B | not named |
| Tech Companies | 11 Oct 2018 | $55M | $500M | Institutional Venture Partners |
| Tech Companies | 30 Oct 2018 | $50M | not disclosed | Goldman Sachs |
| Arctic Wolf Tech Companies | 25 Oct 2018 | $45M | not disclosed | Future Fund |
| Tech Companies | 17 Oct 2018 | $35M | not disclosed | Susquehanna Growth Equity |
| Tech Companies | 10 Oct 2018 | $25M | not disclosed | DNS Capital |
| Tech Companies | 17 Oct 2018 | undisclosed | not disclosed | LLR Partners |
| Tech Companies | 21 Sep 2018 | $185M | $1.08B | CapitalG |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Perk raise in its Series C round?
Perk raised $44M in its Series C round, announced in Oct 2018.
Who led Perk's Series C round?
Kinnevik led it, with DST Global, Tom Stafford, Felix Capital, Target Global and Spark Capital and 4 more.
What was Perk's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Tech Companies?
228 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $35M, and this round was 1.3 times the median.
Did Perk raise again after this round?
Yes: a Series D round in Jan 2022 of $115M at $1.30B post-money.