Perkbox, an employee and customer engagement provider, recently launched its first equity crowdfunding campaign on Seedrs to raise £1.5 million as it prepares to expand. Within a matter of days, the initiative successfully secured its initial funding target.
Since its debut in January 2015, Perkbox has already attracted more than 300,000 paying members ranging from SMEs to large corporations including British Gas and BUPA. The company revealed the monthly recurring revenue has grown 14 times to £1.4 million per month in 18 months, and has a financial uplift of 50% every quarter since launch, tripling sales in 2015 and expecting to triple sales again this year.
Perkbox’s valuation has grown 45 times since launch, and its goal is to achieve a turnover of £100 million in three years and become one of the UK’s largest software services for businesses. Saurav Chopra, co-founder and CEO, recently stated:
“In creating lower staff turnovers and higher staff happiness, we encourage companies to view the perks and benefits scheme as an investment for future returns. Perkbox is about democratisation and raising capital through the community; this is our approach to democratising funding for high-growth startups for all. The UK market has embraced our mantra that a happy team equals a more productive team and our first equity raise on Seedrs offers investors and customers an opportunity to be part of Perkbox’s future success.”
Perkbox reported it received a combined £350,000 investment from Alex Chesterman and Sherry Coutu at seed stage and has since taken no additional investment. Chesterman, OBE, who is founder of LOVEFiLM and Zoopla Property Group Plc commented:
“Perkbox empowers employers with unique tools to attract, motivate and retain employees. The employee benefits and engagement landscape is changing rapidly and Perkbox is leading the way by championing great working environments. The amazing growth the business is experiencing is driven by its market-leading platform that provides best-in-class benefits and can save employees thousands of pounds throughout the year. Perkbox has built a great team, culture and business in just a few short years.”
Perkbox’s Seedrs campaign is set to close at the end of December.
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