Funding round
Perk Series D
Perk, which works in travel and spend management platform solutions in Boston, raised $115M in a Series D round announced on 12 Jan 2022, led by General Catalyst, at a $1.30B post-money valuation. 2 firms took part, 2 of them already investors. It is Perk's fourth venture round on record; the one before was a Series C in Oct 2018.
$115M
Amount raised
$1.30B
Post-money valuation
$1.19B pre-money
2
Investors
1 lead
8.8%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Perk at $1.30B after the new money. The $115M bought investors about 8.8% of the company. It came 39 months after Perk's Series C. It is 23% of the $491M Perk has raised in the venture rounds on record. Perk raised again 24 months later: a Growth round of $104M in Jan 2024, at $1.40B 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 16 Oct 2018, led by Kinnevik $44M
- Series D this round 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
General Catalyst led the round with 1 other firm. General Catalyst and Kinnevik had backed Perk before.
Lead investor
- General Catalyst backs 574 venture-backed companies existing investor
Also in the round
- Kinnevik backs 55 venture-backed companies existing investor
Joined the board: Gillian Tans and Joel Cutler (General Catalyst).
Comparable rounds
How it compares
229 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.1 times the median. The closest in time, other companies' Series D rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Tech Companies | 25 Jan 2022 | $150M | $1.40B | Coatue and Alkeon |
| Tech Companies | 25 Jan 2022 | $123M | $1.40B | not named |
| Tech Companies | 25 Jan 2022 | $123M | $1.40B | not named |
| Tech Companies | 6 Jan 2022 | $110M | $1.00B | SoftBank Vision Fund |
| Tech Companies | 24 Jan 2022 | $72M | $1.00B | Technology Crossover Ventures |
| BlueVoyant Tech Companies | 23 Feb 2022 | $250M | $1.00B | Liberty Strategic Capital |
| Starburst Tech Companies | 9 Feb 2022 | $250M | $3.35B | Alkeon |
| dbt Labs Tech Companies | 24 Feb 2022 | $222M | $4.20B | Altimeter |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Perk raise in its Series D round?
Perk raised $115M in its Series D round, announced in Jan 2022.
Who led Perk's Series D round?
General Catalyst led it, with Kinnevik.
What was Perk's valuation at the Series D round?
$1.30B post-money ($1.19B pre-money).
How does it compare with other Series D rounds in Tech Companies?
229 Series D rounds in Tech Companies within a year either side disclosed an amount; the median was $100M, and this round was 1.1 times the median.
Did Perk raise again after this round?
Yes: a Growth round in Jan 2024 of $104M at $1.40B post-money.