London's Perkbox eyes up global expansion plans with £13.5m investment

Perkbox has raised £13.5m in equity funding to support the worldwide expansion plans for its employee experience platform.

The round is being led primarily by existing investor Draper Esprit, alongside long-term Perkbox angels.

Launched in 2015, it is headquartered in London with offices in Sheffield, Paris and Sydney. The funding will help finance part of the company’s expansion operations in its recently launched markets, including Australia and France.

Saurav Chopra, co-founder and CEO of Perkbox, said: “We are excited to partner with existing and new investors that share our Perkbox mission of helping 100M employees live better by 2025.

“Having recently expanded overseas and launched a new range of products, this investment will help us scale our operations in the UK and internationally, aligning our goals and bringing us closer to our mission.”

Alongside this, it will also help scale the development and distribution of Perkbox’s new products - Perkbox Medical, Perkbox Insights and the platform’s card-linked PerksGO feature, which were all launched in Q4’2018.

Perkbox has raised £11m in equity funding so far, making it one of the most capital-efficient SaaS businesses operating in Europe.

Simon Cook, founder of Draper Esprit, concluded: “Employee motivation and culture remain some of the most important issues for companies looking to attract the best talent.

“The need for employee experience is now understood and employers see that their most important assets are their people. Since we invested in the company in 2016, Saurav and the team have grown at an impressive rate - they have launched in three international markets, built three new products and hired over 250 people…

“We are excited to continue supporting them in this next phase of growth.”

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