Funding round
Perk Series B
Perk, which works in travel assistance services in Birmingham, raised $21M in a Series B round announced on 11 Apr 2018, led by Target Global and Felix Capital. 5 firms took part. It is Perk's first venture round on record.
$21M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
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, 3 years after it was founded in 2015. It is 7.9% of the $265M 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 E in Jan 2025, valued it at $2.70B.
Perk's funding rounds
Perk has 3 venture rounds on record and 1 other deal. This one is highlighted.
Investors
Who put money in
Target Global and Felix Capital led the round with 3 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
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
9 Series B rounds in Travel Agencies within a year either side disclosed an amount; the median was $11M, and this round was 1.9 times the median. The closest in time, other companies' Series B rounds in Travel Agencies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Travel Agencies | 24 Apr 2018 | $80M | not disclosed | PPF Group |
| Travel Agencies | 4 Jun 2018 | $18M | not disclosed | Partech and Felix Capital |
| Travel Agencies | 22 Feb 2018 | $11M | not disclosed | H.I.S. |
| Travel Agencies | 30 Jan 2018 | $11M | not disclosed | Inovia |
| Travel Agencies | 24 Sep 2018 | $15M | not disclosed | Golden Gate Ventures |
| Travel Agencies | 1 Sep 2018 | $2.0M | not disclosed | not named |
| TourRadar Travel Agencies | 24 Oct 2017 | $10M | not disclosed | Endeit |
| Travel Agencies | 12 Nov 2018 | $23M | not disclosed | HPE Growth |
Sources
Where this comes from
Reported by 2 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 and Amplo.
What was Perk's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Travel Agencies?
9 Series B rounds in Travel Agencies within a year either side disclosed an amount; the median was $11M, and this round was 1.9 times the median.
Did Perk raise again after this round?
Yes: a Series C round in Oct 2018 of $44M.