PERQ Closes $6M Funding Round

PERQ Closes $6M Funding Round

PERQ, a marketing technology company, 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, KY.

PERQ’s 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.”

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