Perkbox, the employee experience platform, raises £13.5M

Perkbox, the London-based startup now calling itself an “employee experience platform,” has raised a further £13.5 million in funding. The round is led by existing investor Draper Esprit, alongside a number of previous Perkbox angels. Prior to this, the company, which launched in 2015, had raised £11 million.

Targeting companies of all sizes, from SMEs to larger businesses, Perkbox’s platform lets employers give employees a number of benefits and rewards to enrich their work and personal life. The broader aim, of course, is to improve retention and staff well-being.

The offering now spans several products beyond its “perks” origins, including card-linked loyalty and medical provision. In addition, Perkbox enables companies to measure employee sentiment to help break down silos between management and teams, and to let employees give recognition to one another. This can either be peer-to-peer or top down from management.

“With this new suite of products, we transitioned from an employee ‘engagement’ platform to an employee ‘experience’ platform,” Perkbox co-founder and CEO Saurav Chopra tells me. “[All] with the aim of helping employers enrich the personal and working life of employees by catering for the full spectrum
of employee wellbeing: financial, physical and emotional”.

Headquartered in London but also with offices in Sheffield, Paris and Sydney, Perkbox says the new funding will be used to finance the company’s expansion operations in Australia and France.

In addition, the startup will invest in scaling the development and distribution of its newest products: Perkbox Medical, Perkbox Insights and the platform’s card-linked PerksGo feature — all of which were launched late last year.