A marketing technology company, PERQ today announced that it closed a $6 million in series A 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 game-changing, AI-powered digital marketing platform, 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 organizations 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 participating in the round include Great Blue Venture, Elevate Ventures, Collina Ventures, Allos Ventures, 4G Ventures, 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 CEO and Co-founder of PERQ, Andy Medley said that he was excited to have all these investors on board. He also added that the funds raised during Series A will provide more than ample capital to support the continued growth and development of the PERQ Marketing Cloud and other innovative marketing technology solutions initiated by the company.
John Willmoth, Founder and Managing Partner of Poplar Ventures said that PERQ’s growth and its outstanding customer results, along with the $10B+ addressable market size, drove their decision to invest. He added that digital shoppers today 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.