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PerchPeek raises £8m to make overseas relocation easier for employers and employees

PerchPeek, the digital relocation platform, has raised £8m in Series A funding to help companies build mobile, distributed workforces and make overseas relocation easier and less stressful for employees.

Co-led by Stage 2 Capital and AlbionVC, the raise reflects the mass shift in knowledge workers looking for new opportunities and experiences seen over the past 24 months. At the same time, employers are trying to avoid the ‘great resignation’ by offering greater flexibility, choice and work/life balance to their employees, while tapping into the global talent market to tackle the growing skills gap. As a consequence, the global employee relocation market is now worth $33.5bn, due to the costs and complexity involved in making relocation possible.

In a joint statement, Paul Bennett, Dr. Ace Vinayak and Oliver Markham, co-founders of PerchPeek, comment: “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 but also their employer provide a high value employee benefit.”

PerchPeek fixes this problem by providing companies with an end-to-end app that supports employees relocating to more than 25 countries around the world – including more remote locations and those with fewer rental options and tougher admin burdens. It combines highly intuitive and award-winning technology with a global team of relocation experts to fully manage the relocation journey from one place. In doing so, it can save companies up to 70% in relocation costs.

Using PerchPeek, 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. Its global team of experts are available via instant-messaging, and give recommendations for properties, organise viewing and help plan facilities and amenities so movers quickly arrive at the right relocation option.

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 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.”

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

Impala Travel, which is remote-first and gives its employees the option to live in any country in Europe, recently added PerchPeek to its company benefits package, allowing employees to consider affordable, flexible relocations to anywhere on the continent. INEOS – the global chemical company behind INEOS Britannia, the British sailing team in America’s Cup – is using PerchPeek to relocate its army of boatbuilders from around the world to the UK.

Jemma Stapleton, who manages people operations including talent relocation for INEOS, adds: “Searching for the perfect place to relocate to is a difficult and time consuming job, especially when you are moving to the UK from another country. PerchPeek took away all of this and made the process so much more simpler. I would definitely recommend them to take the stress out of such an important decision-making process. They offer support every step of the way.”

PerchPeek’s latest round of funding is led by Stage 2 Capital and AlbionVC, and follows  a seed round led by Episode 1 Ventures. The investment will be used to grow an exceptional app-development team to further improve the user experience and further international expansion.

“Our latest investment will enable us to expand our operations and technical capabilities to cater to this surge in interest from HR and mobility teams,” Paul continues. “Integrating multiple relocation processes in dozens of countries in one app is a huge technological challenge that requires a world-class team and so the majority of our funds are being used to keep building out our platform.”

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.”