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London’s PerchPeek stocks up £8M to guide employees relocate anywhere

Perchpeek
Image credits: Perchpeek

Relocating to another city or country for work can be a daunting process! Finding a new home, sorting out shipping the stuff, organising utilities and bank accounts, and more such activities are always time-intensive and stressful. 

This is where PerchPeek, a London-based startup, comes into play. PerchPeek aims to guide people through every stage of their relocation. 

Gets £8M funding 

Recently, the relocation technology startup announced that it has raised £8M funding in Series A round co-led by AlbionVC and Boston’s Stage 2 Capital. 

The investment will enable Perchpeek to accelerate its international expansion and grow an app-development team to improve the user experience. 

In a joint statement, Paul Bennett, Dr. Ace Vinayak, and Oliver Markham, co-founders of PerchPeek, says, “Relocating is a messy amalgamation of 20-30 different processes that create a super stressful process during what should be one of the most exciting moments in someone’s life. There are support packages on the market to streamline relocation but these are often inflexible and expensive, costing companies thousands of pounds, and usually only available for those at the top of the company. By bringing all the processes into one platform, with great support at accessible price points, we help both the relocating employee with their move and also their employer provide a high-value employee benefit.” 

Digital relocation platform

Currently, the global employee relocation market is worth $33.5B due to the costs and complexity involved in making relocation possible. 

Founded by Dr. Ace Vinayak, Oliver Markham, and Paul Bennett, PerchPeek is the digital relocation platform that guides employees through every stage of their move. The platform is operational in 25+ countries, including the US, UK, Western & Central Europe, and Canada.

The platform combines its intuitive technology with a global team of relocation experts to fully manage the relocation journey from one place, saving companies up to 70% in relocation costs.

In terms of relocating, employees are guided through every stage of their move – from helping them find a great home in the right neighbourhood to shipping their belongings (and pets), setting up a bank account, and sorting their utilities. 

Helped more than 5000 people

Since January 2020, PerchPeek has helped more than 5000 people start their relocation journey, to hundreds of towns and cities globally, including the UK, Ireland, Germany, Luxembourg, Netherlands, and the US. 

It has seen a 250% increase in the number of employees relocated via the app in the second half of 2021 compared to the first half, and the company expects growth to accelerate further into 2022, with relocations via the app in January 2022 already 330% higher than in January 2021. 

PerchPeek works with tech and social media giants as well as corporates including Thoughtworks, Liberty Global, Impala Travel, and INEOS.

PerchPeek CEO, Paul, adds: “If 2021 was the year of the ‘great resignation’, 2022 will be the year of the ‘great relocation’. We are seeing an enormous appetite among employees to move around for work (in fact, 79% of employees would consider moving abroad according to a recent survey), and employers are matching this appetite by offering competitive relocation packages. It’s why some of the world’s largest technology, financial, and consulting firms are coming to us looking for a more cost-efficient and personal way to make relocation possible.”

Investor

Based out of London, AlbionVC focuses on early-stage partnerships across B2B software, deeptech, and healthcare. The VC manages c. $1B of venture funds, currently invested in over 50 companies. 

Nadine Torbey, Investment Manager at AlbionVC, says: “The pandemic has accelerated the shift in the way people choose to work and live. Relocation is one of the most desirable experiences of working professionals, yet it remains painful and archaic. PerchPeek is the long-awaited disruption that will help unlock the full market and enable an increasingly mobile and global talent pool. Its mover-centric app has fostered a community of fervent fans among both movers and corporates, creating incredible momentum in a short period of time. We are excited to partner with Paul and the team of Perchies, whose fire and pace continue to impress us every day and we look forward to supporting them as the company grows the team and scales internationally.”

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