3 min readPERQ Closes $6 Million Series A Funding Round
Poplar Ventures L.P. led funding, included additional investors from within the Midwest silicon corridor and tech community; investment will fuel the expansion of PERQ and its Marketing Cloud Technology.
Indianapolis, IND, July 8, 2019 – PERQ, a marketing technology company, today announced it closed a $6 million funding round to grow its artificial intelligence-driven marketing cloud for big-ticket retailers. The funding comes exclusively from Midwest technology leaders and is led by Poplar Ventures L.P. in Louisville, Kentucky.
PERQ’s game-changing, artificial intelligence-powered digital marketing software, is increasing sales and gross profits for over 1,000 businesses in the automotive, multifamily and home furnishings verticals. The award-winning technology, including PERQ’s recently launched Marketing Cloud, helps businesses better engage with consumers, capturing unique user data that is leveraged in personalized marketing campaigns to increase conversion and sales. The solution has driven company growth in excess of 100% annually for the past 3 years.
Poplar Ventures L.P. led the Series A round. Other investors and investment groups joining the round include Elevate Ventures, Allos Ventures, Collina Ventures, 4G Ventures, Great Blue Venture, Jupiter Peak, Tim Kopp and four other local angel investors. The Series A funding round follows a $5.5 million Series Seed round in October 2018, which was led by Elevate Ventures and nine other Indianapolis-based investors, many of whom are represented again in this round.
“The funds raised during our Series A will provide more than ample capital to support the continued growth and development of the PERQ Marketing Cloud and our innovative marketing technology solutions,” says Andy Medley, PERQ CEO and co-founder. “We are excited to have all of these great investors on board.”
“PERQ’s growth and its outstanding customer results, along with the $10B+ addressable market size, drove our decision to invest,” says John Willmoth, Founder and Managing Partner of Poplar Ventures. “Today’s digital shoppers have changed, creating challenges for high ticket retailers. PERQ’s Marketing Cloud is solving those challenges, creating a user-friendly and personalized digital experience that drives quality leads and a significant return on digital marketing spend. It’s a win for both businesses and the consumer.”
PERQ (www.perq.com), a marketing technology company founded in 2001, empowers businesses and the online consumer experience through innovative solutions powered by artificial intelligence. More than 1,000 businesses in the home furnishings, auto retailing and multifamily industries leverage PERQ’s Marketing Cloud and technology to give them more visibility into their digital marketing efforts and sales.
PERQ has been named to the Inc. “500 Fastest Growing Companies in America” list on three separate occasions. In 2019, PERQ won the Stevie Award for Fastest Growing Company of the Year and the 2018 Best in Biz Silver Award for Fastest-Growing Company of the Year. In 2018, PERQ won a Gold Stevie Award for Entrepreneur: Founding Team of the Year in the American Business Awards.
About Poplar Ventures
Poplar Ventures is a venture capital firm based in Louisville, KY, and is focused on investing in early and growth stage, cloud based recurring revenue software technology companies.The firm’s ethos is to invest where they can truly make a contribution. For additional information, visit www.poplarventures.com.