News

BOSTON, May 26, 2021 /PRNewswire/ — Perch, a technology-driven commerce company that acquires and operates top Amazon third-party and other D2C brands at scale, today announced it has closed a $775M Series A led by the Softbank Vision Fund 2 with participation from Spark Capital and Victory Park Capital. This is the largest ever Series A raised by a Consumer Goods company, nearly quadrupling the previous record, and it’s the second largest U.S.-based Series A ever.¹ It brings the Company’s total funding to date to over $900M.

Perch has been profitable since inception. In just over 18 months since its founding in November 2019, Perch has reached a 10-figure valuation, becoming the fastest ever US-based profitable unicorn, shattering the previous record by nearly 9 months.¹

The news comes as Perch surpasses a major milestone, with over 70 brands acquired to date and many others under agreement. By investing heavily in its technology platform, it has made integrating brands seamless and pain-free for sellers, closing on over 2 brands a week in 2021 year to date. Notable highlights include:

• Portfolio of Quality Products: Perch’s portfolio has accumulated 500,000+ reviews on Amazon, with an average rating of 4.5 stars. Take a look at a sampling of our brands here.
• Successful Growth Playbooks: Perch’s Growth team has extensive experience building growth playbooks for Amazon-native as well as major Fortune 500 brands. As a result, the average Perch brand saw 75% YoY growth in Q1.
• International Expansion: Over 35% of Perch’s portfolio sells into the EU and other international markets today, with another 15% currently enroute, and plans to continue to scale globally moving forward.
• B&M and Physical Retail Expansion: Perch has several brands that sell into brick and mortar (B&M) retailers with physical products in-store such as Target, Walmart, Costco, and Kroger. Perch has also built out a dedicated team to drive sales in B&M with experience selling into Grocery, Value, and Specialty retailers.

“We are building the next-gen Consumer Products company,” said Chris Bell, CEO of Perch. “This investment is a powerful validation of our amazingly talented team, data-first playbooks, and long-term vision. This isn’t a standard roll-up play; we’re meaningfully investing in our brands and a unifying technology platform. Our highly analytical and tech-first approach allows us to innovate and automate at scale, driving efficiencies from supply chain logistics to listing optimization. We plan to use these funds to invest in the team and platform, drive additional brand upside through additional channels and geographies, and continue to acquire the best products and brands.”

“As one of the largest investors in eCommerce platforms globally, we understand the critical role third party sellers perform in driving Amazon’s marketplace growth. Through its unique technology platform, Perch is providing third-party sellers with the resources to help scale and manage their businesses,” said Lydia Jett, Partner at SoftBank Investment Advisers. “We are excited to partner with Chris and the Perch team to support their mission of developing great eCommerce brands.”

“Perch’s success across their 70 brands is undeniable,” said Alex Finkelstein, General Partner at Spark Capital. “They have gone from one of the earliest movers in a rapidly evolving industry to a leading eCommerce player on Amazon and beyond. We are excited to watch Perch expand on their success and redefine an industry.”

About Perch
Perch is a technology-driven commerce company that acquires and operates Amazon third-party and other D2C brands at scale. Perch seeks high-quality products and brands that have a steady history of strong customer reviews, are consistently one of the top three products within their category, and have the potential for expansion. Perch quickly evaluates opportunities, guaranteeing entrepreneurs a 48-hour response on their businesses’ fit with its model and valuation range, providing a fast and risk-free way to understand their company’s potential. For more information, please visit: www.PerchHQ.com

About Spark Capital
We are Spark Capital, investors in products we love by creators we admire, including Affirm, Carta, Cruise, Discord, Oculus, Plaid, Postmates, Slack, Twitter, and Wayfair. We know there are no playbooks or formulas for success and are here to help founders win their own way. We invest across all sectors and stages, and work out of San Francisco, Boston, and New York City.

As of the date of this press release, SoftBank Group Corp. has made capital contributions to allow investments by SoftBank Vision Fund 2 (“SVF 2”) in certain portfolio companies. The information included herein is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy limited partnership interests in any fund, including SVF 2. SVF 2 has yet to have an external close, and any potential third-party investors shall receive additional information related to any SVF 2 investments prior to closing.

¹ Source: Internal company analysis of Crunchbase data.

SOURCE Perch