- Companies
- Perk
Perk Revenue, Valuation, Funding & Investors
Perk is valued at $2.7B as of January 2025, a 9.0x multiple on its last reported $300M revenue.
Last Perk valuation
$2.7B
Series E · Jan 2025
Last Perk funding round
$200M
Series E · Jan 2025
Perk revenue
$300M
Series E · Jan 2025
Key investors in Perk
Kinnevik
Heartcore Capital
Felix Capital
Spark Capital
Target Global
LocalGlobe
About Perk
TravelPerk is a Barcelona-headquartered business travel management platform that combines booking for flights, hotels, and car rentals with policy compliance, expense reporting, and 24/7 support. The all-in-one tool serves corporate teams across Europe and beyond, integrating with expense systems for streamlined operations.
Founded
2015
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$300M (Jan 2025)
Valuation
$2.7B (Jan 2025)
Perk Valuation
Perk is currently valued at $2.7B, based on its Series E in January 2025.
The $200M round was led by Atomico and EQT, with participation from General Catalyst, SoftBank Group, Blackstone, Sequoia Capital, Kinnevik and 1 other investor.
Perk's valuation has grown 2.1x from $1.3B at its Series D in January 2022 to $2.7B in January 2025, across 3 priced rounds.
Perk valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jan 2025 | Series E | $2.7B | 9.0x |
| Jan 2024 | Series D | $1.4B | 7.0x |
| Jan 2022 | Series D | $1.3B | - |
Perk Revenue
Perk's latest recorded revenue is $300M, as of its Series E in January 2025. At a $2.7B valuation, that implies a 9.0x revenue multiple.
Revenue grew from $200M in January 2024 to $300M in January 2025, while the revenue multiple moved from 7.0x to 9.0x.
Perk revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jan 2025 | $300M | $2.7B | 9.0x | Series E |
| Jan 2024 | $200M | $1.4B | 7.0x | Series D |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Perk Funding History
Perk has raised a total of $728M across 10 funding rounds.
Perk's first fundraising round was a $2M seed round in March 2016. The most recent completed round was a $200M Series E in January 2025.
Perk funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jan 2025 | Series E | Atomico (lead); EQT (lead); General Catalyst; SoftBank Group; Blackstone; Sequoia Capital; Kinnevik; Noteus Partners | $200M | $2.7B | TravelPerk is a Barcelona-based all-in-one SaaS business travel and expense management platform targeting SMB and mid-market companies, offering integrated solutions for travelers and finance teams. Founded in 2015, it provides freedom for travelers while giving companies control, saving time, money, and hassle. The company raised $200 million in an oversubscribed Series E round on January 28, 2025, led by Atomico and EQT Growth, with participation from Noteus Partners, Sequoia Capital, and existing investors including Kinnevik, General Catalyst, SoftBank Vision Fund, and Blackstone. This round nearly doubled its previous $1.4 billion valuation to a post-money valuation of $2.7 billion. The funding will accelerate US market expansion following the 2024 acquisition of AmTrav, with significant investments in product, technology, and AI. Concurrently, TravelPerk acquired Yokoy, a Zurich-based AI-powered spend management platform for expenses, invoices, and payments, to deliver unified travel and expense solutions with localized US offerings. This addresses customer trade-offs between integrated platforms and best-in-class tools. TravelPerk has shown strong traction, achieving over 50% annual revenue growth for the last two years to over $200 million, exceeding $2.5 billion in annual bookings, and reaching EBITDA break-even by end of 2024. With prior funding totaling around $660 million in equity and debt plus $135 million debt for AmTrav, the company now eyes further global scaling in a competitive corporate travel tech market. |
| Jan 2024 | Series D | SoftBank Group (lead); Felix Capital; Kinnevik | $103M | $1.4B | TravelPerk is a hyper-growth SaaS business travel management platform targeting SMEs, offering an all-in-one solution with industry-leading travel inventory, powerful management features, 24/7 support, advanced technology, and consumer-grade design to save companies time, money, and hassle in business travel planning. Customers include Revolut, Wise, Redbull, GetYourGuide, and Aesop. On January 23, 2024, TravelPerk closed a $104 million funding extension to its Series D-1 round from January 2022, led by SoftBank Vision Fund 2 with participation from existing investors Kinnevik and Felix Capital, bringing total funding over $520 million. The investment sets the company's post-money valuation at $1.4 billion, a flat valuation from its prior $1.3 billion mark amid a challenging funding environment. Stephen Thorne of SoftBank Investment Advisers joined the board. In 2023, TravelPerk achieved over 70% year-over-year revenue growth and more than 90% gross profit growth, with annualized booking volumes approaching $2 billion. The company, founded in 2015 and headquartered in Barcelona with over 1,200 employees, plans to use the funds to enhance its platform with new inventory capabilities, launch additional business travel services, expand AI-driven automation, grow its team, and scale operations globally, particularly in the US and Europe. This round follows an initial Series D effort totaling nearly $400 million (including ~$80 million debt), led by General Catalyst in 2022. TravelPerk positions itself as a pioneer in business travel for underserved SMBs within a massive global market, leveraging AI innovations to differentiate from competitors. |
| Jul 2023 | Series D | Kinnevik (lead) | $19M | - | TravelPerk is a Barcelona-based SaaS platform for business travel management, targeting SMEs with features for booking, expense management, and AI-driven automation. In July/August 2023, it raised approximately €17 million (over $18 million) from returning investor Kinnevik, described as an extension or part of its ongoing Series D funding activities that year. This followed a January 2022 Series D of $115 million led by General Catalyst and Kinnevik at a $1.3 billion valuation, with the 2023 Kinnevik investment anchoring further extensions. The 2023 Kinnevik-led tranche contributed to TravelPerk's total Series D efforts, which later extended with SoftBank Vision Fund 2's $104 million investment in early 2024, maintaining a $1.4 billion post-money valuation—flat from prior rounds amid a tough market. Kinnevik reported net investments of over SEK 180 million in TravelPerk during 2023, including this round and secondary transactions. No specific use of funds for the July 2023 tranche was detailed, but overall 2023 investments supported platform enhancements, US expansion, and AI integrations. TravelPerk demonstrated strong 2023 traction with 70% year-over-year revenue growth and 90% gross profit growth, alongside annualized booking volumes nearing $2 billion, though absolute revenue figures were not disclosed. The company had raised over $400 million in its extended Series D by early 2024. A later January 2025 round of $200 million led by Atomico and EQT Growth valued TravelPerk at $2.7 billion post-money, with Kinnevik participating and noting a 40% per-share uplift. |
| Jan 2022 | Series D | General Catalyst (lead); Kinnevik (lead); Gillian Tans; Greyhound Capital | $115M | $1.3B | TravelPerk is a Barcelona-based business travel management platform that provides an end-to-end solution for booking flights, hotels, car rentals, and trains alongside expense tracking and management capabilities. The company serves small and medium businesses as well as mid-market enterprises across the US and Europe. In January 2022, TravelPerk closed a Series D extension round, raising an additional $115 million to add to the $160 million raised in April 2021, bringing the total Series D to $275 million and total capital raised to $409 million. The round valued the company at over $1 billion, achieving unicorn status. The investment was led by new investor General Catalyst and existing investor Kinnevik, with participation from other backers including personal investment from Gillian Tans, the former CEO and Chairwoman of Booking.com, who joined the board alongside Joel Cutler, an early investor in Stripe, Airbnb, and Kayak. The funding was designated to boost sustainable travel initiatives and expand the product offering to meet small and medium-sized businesses' needs in hybrid and remote working environments. By 2024, the company had demonstrated substantial growth, generating over $200 million in annual revenue with more than 50% year-over-year growth, achieving EBITDA break-even by the end of 2024, and maintaining annual booking volumes exceeding $2.5 billion. |
| Apr 2021 | Series D | Greyhound Capital (lead); Amplo; LocalGlobe; Heartcore Capital; Spark Capital; Felix Capital; 14W; Target Global; Kinnevik; DST Global | $160M | - | TravelPerk, a Barcelona-based business travel management platform offering booking, 24/7 support, flexible policies, and API integrations, raised $160 million in a Series D round on April 29, 2021, comprising equity and debt, led by Greyhound Capital with participation from DST Global, Kinnevik, Target Global, Felix Capital, Spark Capital, Heartcore Capital, LocalGlobe, and Amplo. The funding came after a challenging pandemic year, during which the company doubled its customer base to over 3,000 businesses including Wise, Farfetch, GetYourGuide, and Monzo, and nearly doubled travel budget under management without layoffs. The 2021 round aimed to accelerate global growth amid recovering business travel demand. Despite the COVID-19 disruptions derailing business trips, TravelPerk demonstrated resilience by growing its customer base 2x in 2020 and maintaining operations through a no-layoff policy, positioning it as a leader in SMB travel management with freemium options and custom integrations. Investors were attracted by this performance, funding the round as business travel showed signs of recovery. The platform focused on pain-free SaaS solutions for corporate travel, competing in a sector rebounding from pandemic lows. Post-2021 developments included further funding, such as a 2022 Series D extension and a $200 million Series E in January 2025 at $2.7 billion valuation co-led by EQT Growth and Atomico, with revenue growth noted later (e.g., surpassing €200m ARR recently, $100m ARR cited in a Kinnevik update as 10x pre-COVID). TravelPerk continued expanding via acquisitions like Click Travel, NexTravel, AmTrav, and Yokoy, targeting US and European markets with AI-driven travel and expense solutions. |
| Jul 2019 | Series C | DST Global (lead); Heartcore Capital; Felix Capital; Latitude; Target Global; Kinnevik | $59M | - | TravelPerk is a Barcelona-based business travel management platform founded in 2015 that automates corporate travel booking, expense management, and spending policies. The company raised a two-part Series C in July 2019, with the initial close of €53 million announced in October 2018 followed by an additional $60 million in July 2019, bringing the total Series C to $104 million and total funding to date to $134 million. The round was led by DST Global with participation from Kinnevik, Target Global, Felix Capital, Heartcore (formerly Sunstone), and LocalGlobe. CEO Avi Meir stated that the company's valuation more than doubled in the eight months prior to the July 2019 announcement but declined to disclose the specific valuation figure at that time. The company reported strong growth metrics, with GMV (gross merchandise volume) targets for 2019 stated as 300% higher than 2018 levels, though absolute revenue figures were not disclosed. TravelPerk achieved unicorn status in 2022 when it raised $115 million in a Series D round at a $1.3 billion valuation, and subsequently raised $104 million in January 2024 at a $1.4 billion valuation before its most recent $200 million Series E in January 2025 at $2.7 billion valuation. |
| Oct 2018 | Series C | Kinnevik (lead); Amplo; Heartcore Capital; Spark Capital; Felix Capital; Latitude; Target Global; Tom Stafford; Yuri Milner | $43M | - | TravelPerk is a Barcelona-based business travel management platform offering booking, expense management, and AI-powered solutions for SMEs and mid-market companies. It provides features like 24/7 support, flexible policies, and integrations. The company was founded in 2015 and has raised multiple rounds since, including a Series A of $7M led by Spark Capital, followed by Series B of $21M in April/October 2018 with investors like Target Global, Felix Capital, Spark Capital, Amplo, and others. A Series C followed in July 2019 with $104M backed by Kinnevik, DST Global partners (Yuri Milner), Target Global, Felix Capital, Sunstone, and LocalGlobe. The October 2018 round included investors Amplo, Felix Capital, Heartcore Capital, Kinnevik, Latitude, Spark Capital, Target Global, Tom Stafford, and Yuri Milner, led by Kinnevik, listed variably as Series B ($21M) or part of Series C (EUR 38M). Kinnevik reported holding a 13% stake in TravelPerk post a Q4 2018 funding round, fair valued at SEK 223m, based on latest transaction value from Q3 2018. Kinnevik remains a major shareholder. Later rounds achieved unicorn status: Series D in 2022 raised $115M at $1.3B valuation, extended in recent years to $1.4B and $2.7B in 2025 Series E led by Atomico. TravelPerk has shown strong growth post-2018, with 2023 revenue up over 70% YoY, annualized bookings over $2.5B, revenue over $200M, and >50% annual growth recently, targeting EBITDA break-even by end-2024. Total funding exceeds $860M-$1B across equity and debt. The 2018 rounds funded product development, international expansion, and AI enhancements in a competitive market serving underserved SME business travel segment. |
| Apr 2018 | Series B | Felix Capital (lead); Target Global (lead); Amplo; Heartcore Capital; Spark Capital; Niklas Ostberg; Fritz Demopoulos | $21M | - | TravelPerk, a Barcelona-based SaaS startup founded in 2015 by CEO Avi Meir and CPO Javier Suarez, provides an end-to-end business travel platform allowing companies to search, book, and pay for flights, hotels, and more, while managing itineraries, invoices, loyalty programs, and travel policies. The platform integrates with major providers like Booking.com, Expedia, and Airbnb, offering the world's largest bookable inventory, 24/7 support, and no commissions, claiming to save customers over 20% on travel costs compared to legacy tools. In April 2018, it closed a $21 million Series B round led by Target Global and Felix Capital, with participation from Spark Capital, Sunstone, and new investor Amplo, bringing total funding to $30 million. The company reported strong early growth, ranked as Europe's fastest-growing SaaS startup with 1,200% year-over-year growth, serving clients like TransferWise, Typeform, GoCardless, Outfittery, and CityJet. CEO Avi Meir stated the startup was on pace to generate $100M in GMV for 2018, highlighting product-market fit in the $1.25 trillion business travel market. Competitors mentioned include U.S. startups like TripActions and NexTravel. This Series B followed a $7 million Series A led by Spark Capital. |
| Jun 2016 | Series A | Spark Capital (lead); LocalGlobe; Heartcore Capital; Yorai Linenberg; Innuvik Ventures | $7M | - | TravelPerk is a Barcelona-based business travel booking and management platform founded in 2015 by former Booking.com and Skyscanner employees, including CEO Avi Meir. The platform integrates airlines and hotels with a user-friendly interface, targeting fast-growing Series B to C companies in Europe, and aims to address high fees and inefficiencies in business travel. At the time of the round, it had 20 customers with ambitions to serve companies with up to €10 million in yearly travel spend. TravelPerk raised $7 million in a Series A round on June 9, 2016, led by Spark Capital, with participation from Sunstone Capital and LocalGlobe. Spark Capital's Alex Finkelstein joined the board. This followed a $1.5 million seed round led by former Index Ventures partners Saul and Robin Klein. Funds were allocated to triple the team in Barcelona, focusing on product development for enterprise features like approvals and cost center accounting, and global expansion starting with more European countries, then Asia and the US. The company operates in a $1.25 trillion global business travel market, competing with players like Booking.com and Egencia, leveraging founders' travel tech expertise. |
| Mar 2016 | Seed | Paolo Rubatto; Patrick Sader; LocalGlobe; Mario Ricciardelli; Uriel Ben Dayan; Yorai Linenberg; Jeffrey Del Papa; Aryeh Mergi; Elizabeth Riley; Innuvik Ventures; Uriel Ben David | $2M | - | - |
Who has invested in Perk?
33 investors have backed Perk across its funding rounds, including Kinnevik, Heartcore Capital, Felix Capital, Spark Capital, Target Global and LocalGlobe.
Lead investors include Atomico, EQT, SoftBank Group, Kinnevik, General Catalyst and 5 other investors.
Perk Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 7 | Lead | Oct 2018 | ||
| 5 | Participant | Jun 2016 | ||
| 5 | Lead | Apr 2018 | ||
| 4 | Lead | Jun 2016 | ||
| 4 | Lead | Apr 2018 | ||
| 3 | Participant | Apr 2018 | ||
| 3 | Participant | Mar 2016 | ||
| 2 | Lead | Jan 2022 | ||
| 2 | Lead | Jan 2024 | ||
| 2 | Participant | Mar 2016 | ||
| 2 | Participant | Oct 2018 | ||
| 2 | Participant | Mar 2016 | ||
| 2 | Lead | Jul 2019 | ||
This data is available for Pro users. Sign up to see all 33 Perk investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Perk
Perk has acquired 7 companies to date.
Last acquisition by Perk was on January 28th 2025. Perk acquired Yokoy for undisclosed valuation.
Latest Acquisitions by Perk
| Description | Yokoy is a Zurich-headquartered FinTech platform automating spend management for medium and large enterprises using AI. It unifies expense reporting, supplier invoice processing, and corporate card issuance into one dashboard. Established in March 2019 as Expense Robot GmbH, Yokoy leverages machine learning from its AI lab to optimize workflows globally via yokoy.io. | AmTrav is a corporate travel management company providing booking tools, expense tracking, and policy enforcement for small and medium businesses. Headquartered in Milwaukee, Wisconsin, the platform integrates with Concur and offers 24/7 support for United States travelers. | Susterra is a London-based software and consultancy firm focused on corporate travel sustainability. It delivers carbon footprint calculators, analytics dashboards, and CSR reporting tools for business trips. The platform connects with booking systems from providers like American Express Global Business Travel to recommend low-emission routes and offset programs. | Click Travel is a British travel management company whose online platform aggregates rail, air, hotel and car hire content for corporate customers, supported by a 24/7 service team. Founded in 1999 in Birmingham, it served around 2,000 business clients including Five Guys, Red Bull and TalkTalk. Revenue comes from booking fees and supplier commissions. | |
| HQ Country | |||||
| HQ City | Zurich | Chicago, IL | London | Birmingham | |
| Deal Date | 28 Jan 2025 | 18 Jun 2024 | 30 Sep 2021 | 6 Jul 2021 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all Perk acquisitions and their M&A valuation multiples. Start Free Trial | |||||
Perk Competitors
Perk competitors include listed companies like Agilysys and Shiji Group, and private ones like commercetools, Cart.com, fabric and Deliverect.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $319M | $57M | $2.9B | 8.1x | ||
| Publicly listed | $416M | $21M | $3.1B | 6.2x | ||
| Private | $150M | - | $1.9B | 12.7x | ||
| Private | - | - | $1.6B | - | ||
| Private | - | - | $1.5B | - | ||
| Private | - | - | $1.4B | - |
Perk Public Comps
Perk is still privately-owned, but its public comps include Agilysys, Shiji Group, Bally's Intralot, TravelSky, Wix.com, HBX Group, Xinhua Winshare, GigaCloud Technology, Sportradar and Playtech.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $319M | $57M | 8.7x | 8.1x | 48.7x | 35.8x | |||
| $416M | $21M | 6.4x | 6.2x | 128.0x | 97.1x | |||
| $597M | $155M | 7.0x | 3.6x | 27.1x | 10.4x | |||
| $1.3B | $518M | 0.9x | 0.9x | 2.3x | 2.3x | |||
| $2B | ($13M) | 2.2x | 2.0x | (352.9x) | 14.4x | |||
| $896M | $218M | 3.0x | 3.3x | 12.4x | 5.7x | |||
| $1.7B | $248M | 0.4x | 0.4x | 2.9x | 3.4x | |||
| $1.3B | $158M | 1.6x | 1.4x | 12.8x | 10.6x | |||
This data is available for Pro users. Sign up to see all Perk competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Perk
| When was Perk founded? | Perk was founded in 2015. |
| Where is Perk headquartered? | Perk is headquartered in Barcelona, Spain. |
| Is Perk publicly listed? | No, Perk is a private, VC-backed company. |
| What is Perk's valuation? | Perk was last valued at $2.7B in its Series E in January 2025. |
| How much funding has Perk raised? | Perk has raised $728M across 10 funding rounds. |
| What was Perk's last funding round? | Perk's last funding round was a $200M Series E in January 2025, led by Atomico and EQT. |
| Who are Perk's investors? | Perk's investors include Kinnevik, Heartcore Capital, Felix Capital, Spark Capital, Target Global, Amplo, LocalGlobe, General Catalyst, SoftBank Group, Yorai Linenberg and 23 others. |
| What is Perk's revenue? | Perk's latest recorded revenue is $300M (January 2025). |
| What is Perk's revenue multiple? | Perk's latest valuation implies a 9.0x revenue multiple ($2.7B valuation on $300M of revenue). |
| Which companies are comparable to Perk? | Companies comparable to Perk include Agilysys, Shiji Group, commercetools, Cart.com, fabric and Deliverect. |
| How many companies has Perk acquired? | Perk has acquired 7 companies, including Yokoy, AmTrav, Susterra, Click Travel and Click Travel, Powered by TravelPerk. |
| What was the largest acquisition by Perk? | The $112M acquisition of Click Travel, Powered by TravelPerk in July 2021 is the largest acquisition Perk has made to date. |
See companies similar to Perk
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.




