Funding round
Perk Series E
Perk, which works in travel and spend management platform solutions in Boston, raised $200M in a Series E round announced on 28 Jan 2025, led by Atomico and EQT, at a $2.70B post-money valuation. 8 firms took part, 4 of them already investors. It is Perk's sixth venture round on record; the one before was a Growth in Jan 2024.
$200M
Amount raised
$2.70B
Post-money valuation
8
Investors
2 leads
1.9x
Step-up from the Growth
$1.40B in Jan 2024
7.4%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Perk at $2.70B after the new money, 1.9 times the $1.40B of its Growth (Jan 2024). The $200M bought investors about 7.4% of the company. It came 12 months after Perk's Growth. It is 41% of the $491M Perk has raised in the venture rounds on record. No later venture round is on record for Perk.
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 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 this round 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
Atomico and EQT led the round with 6 other firms. General Catalyst, Kinnevik, SoftBank Vision Fund and Blackstone had backed Perk before.
Lead investors
Also in the round
- backs 4 venture-backed companies new investor
- General Catalyst backs 574 venture-backed companies existing investor
- Kinnevik backs 55 venture-backed companies existing investor
- SoftBank Vision Fund backs 234 venture-backed companies existing investor
- Blackstone backs 83 venture-backed companies existing investor
- Sequoia Capital backs 589 venture-backed companies new investor
Joined the board: Hillary Ball (Atomico) and Carolina Brochado (EQT Growth).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
41 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $150M, and this round was 1.3 times the median. The closest in time, other companies' Series E rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Whatnot Tech Companies | 10 Jan 2025 | $265M | $4.97B | Greycroft and DST Global |
| Tech Companies | 14 Jan 2025 | $40M | not disclosed | Health Care Service Corporation |
| Tech Companies | 14 Jan 2025 | $40M | not disclosed | Health Care Service Corporation |
| Anthropic Tech Companies | 3 Mar 2025 | $3.50B | $61.50B | Lightspeed Venture Partners |
| Insider One Tech Companies | 1 Nov 2024 | $500M | not disclosed | General Atlantic |
| Island Tech Companies | 26 Mar 2025 | $250M | $4.80B | Coatue |
| Tech Companies | 19 Nov 2024 | $175M | $2.00B | Tiger Global and Balderton Capital |
| Tech Companies | 4 Mar 2025 | $126M | not disclosed | B Capital and Banc of California |
Sources
Where this comes from
Reported by 8 sources.
Questions
Frequently asked
How much did Perk raise in its Series E round?
Perk raised $200M in its Series E round, announced in Jan 2025.
Who led Perk's Series E round?
Atomico and EQT led it, with Noteus, General Catalyst, Kinnevik, SoftBank Vision Fund and Blackstone and 1 more.
What was Perk's valuation at the Series E round?
$2.70B post-money.
How does it compare with other Series E rounds in Tech Companies?
41 Series E rounds in Tech Companies within a year either side disclosed an amount; the median was $150M, and this round was 1.3 times the median.