PerkSpot, HR tech platform creator out of Chicago, Illinois, has recently popped onto the scene with an incredible $50 million secured in venture capital funding coming from Susquehanna Growth Equity.
The capital was the first outside funding the startup has taken in the 12 years it has been operating. Up until now, PerkSpot CEO Jace Mouse said the company has been growing organically, supporting itself through its revenue.
So why take outside funding now? Mouse says because it not only helps the company accelerate its growth, but also provides them with experienced advisors that can guide them along the way.
“Susqeuhanna is a great partner,” Mouse said. “It gives us additional people at the table to help us collaborate and grow, and allows us to accelerate some of the ideas we’ve been cultivating over the years.”
PerkSpot, founded in 2006, makes a workplace benefit platform that employers can offer their employees to give them discounts at particular retailers, ranging from movie theaters and restaurants to superstores and car companies. The startup negotiates with vendors on behalf of employers and takes care of all perk-related customer service requests.
The startup’s clients include Southwest Airlines, Walgreen’s, Adventist Health System and Spotify. And most of PerkSpot’s clients don’t pay any fees to use it. Instead, to make its money, PerkSpot charges the companies that offer the discounts on their platform a fee.
“At the end of the day, for you as an employee, it means more money in your pocket,” Mouse said. “We help people save money.”
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