This funding helps Perch hit unicorn status within 18 months of launch. Here are the top-line bullets you need to know.
Perch, which acquires and scales third-party Amazon brands, has raised $775M in a Series A that drew participation from SoftBank, Victory Park Capital, and Spark Capital.
HOW’S THE COMPANY PERFORMING?
- Massachusetts-based Perch acquires and operates top Amazon third-party brands. The company’s portfolio features 70 brands, which have seen an average year-on-year growth of 75% in Q1.
- The company has been profitable since its incorporation and hit unicorn status within 18 months of being in business. Since the start of 2020, Perch’s monthly revenue is reported to have grown by 33 times.
- It has more than doubled its headcount since January 2021.
WHY DOES THE MARKET MATTER?
- The e-commerce market is projected to grow at a CAGR of 22.9% to reach a value of $16.2T by 2027, according to Meticulous Market Research.
- Last year, Amazon made $80B in revenue from third-party seller services, and third-party paid units made up 55% of Amazon’s total unit sales mix as of Q4’20. Amazon “market jockeys” like Perch are capitalizing on this e-commerce boom.
- Given Amazon’s stronghold over the online retail market, retailers are doubling down on unique strengths like niche assortment and distinctive convenience and consolidating through mergers, acquisitions, and partnerships.