Press Release: PERQ Closes $5 Million Funding Round to Accelerate Expansion of Company’s AI/SAAS Solution4 min read
Elevate Ventures led funding, which included additional angel investors from within the Indianapolis silicon corridor and tech community; investment will fuel expansion of PERQ’s innovative online guided shopping solution to multiple verticals.
Indianapolis, IN – October 15, 2018 – PERQ, experts in online consumer engagement and shopping behavior, today announced it closed a $5 million funding round to fuel the expansion of its award-winning Artificial Intelligence-driven SAAS solution for big ticket retailers into multiple verticals. The funding comes exclusively from Indianapolis technology leaders and is led by Elevate Ventures.
PERQ’s online guided shopping solution boosts website conversion by dynamically changing existing websites to deliver the next best step in each buyer’s shopping journey. It’s currently used by over 1,000 businesses in the automotive, multifamily and home furnishing verticals where it is generating significant increases in lead generation, closing ratios and gross profits. The solution is driving company growth, including an over 72% increase in new clients and a 170% increase in revenues YOY.
“This round is especially gratifying as it comes from over nine leaders in our community, the Indianapolis tech corridor – leaders who know how to recognize a game-changing technology when they see it,” said Andy Medley, CEO and Co-founder of PERQ. “This investment will enable us to enter new industries that desperately need an easy-to-implement AI-driven solution that improves the consumer experience, drives traffic in-store and increases profits.”
Elevate Ventures participated alongside nine other Indianapolis-based angel investors and investment groups, including Collina Ventures; former executives from T2 Systems; Tim Kopp, former CMO of ExactTarget; and the Co-founders of One Click Ventures. The funding round follows a $1.7 million round in 2016.
“PERQ’s solution has a singular position in the market, there really is nothing else quite like it,” said Chris LaMothe, CEO of Elevate Ventures. “PERQ is using AI to drive real, tangible results for retailers and businesses who, until now, have lacked an effective solution for making their websites’ intelligence meet that of their customers. PERQ’s business ethos, management and technology teams are top notch, and we are proud to join with other key members of the Indianapolis tech family in helping bring PERQ’s solution to a wider audience.”
PERQ (http://www.perq.com), boosts website conversion through its online guided shopping solution which leverages artificial intelligence to dynamically change existing websites to deliver the next best step in each buyer’s shopping journey. As experts in online consumer engagement and behavior, PERQ leverages over 10 million consumer data points, along with real-time visitor behavior.
Founded in 2001, PERQ solutions are used by more than 1,000 businesses in the home furnishing, auto retailing and multifamily industries. Its brands have been named to the Inc. “500 Fastest Growing Companies in America” list on three separate occasions. In 2017, PERQ won the Gold Stevie® Award for lead generation software and Product of the Year in the Big Business Awards.
About Elevate Ventures
Elevate Ventures is a private venture development organization that nurtures and develops emerging and existing high-growth businesses into high-performing, Indiana-based companies. Elevate Ventures accomplishes this by providing access to capital, rigorous business analysis and robust advisory services that connect companies with the right mix of resources businesses need to succeed long term. To learn more about Elevate Ventures, visit elevateventures.com.
PERQ Media Contacts
Melanie Webber, mWEBB Communications, firstname.lastname@example.org or 424-603-4340
Cassandra Cavanah, mWEBB Communications, Cassandra@mwebbcom.com or 818-397-4630