Spark Capital leads raise as Perch creates new model of consumer products company
Perch, a technology-driven commerce company that acquires and operates top Amazon FBA (fulfillment by Amazon) businesses with winning products in their respective categories, today announced that it has closed $8 million in funding. The round was led by Spark Capital with participation from Tectonic Ventures. Perch will use the funds to acquire category-leading products, build out its core team, and further invest in technology and infrastructure.
Led by an experienced team from companies that include Wayfair and Bain & Company, Perch sees potential in the fragmented landscape of Amazon FBA products. Third-party Amazon FBA products make up more than 60 percent of all Amazon online sales, but many of the most successful entrepreneurs are looking for liquidity or don’t have the resources to take their products to the next level. Perch taps into this market opportunity and, through a combination of technology, operational efficiencies, and business relationships, believes it can transform Amazon winners into global winners.
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“We are excited to have raised this round, and are already at work acquiring top products in their respective categories,” said Chris Bell, CEO of Perch. “We are also looking forward to working with the teams at Spark Capital and Tectonic Ventures, firms that have a strong track record of success.”
Perch has already acquired a number of top performers across multiple categories, including Flathead Products (silicone straws), Beachr (sand anchor for beach umbrellas), Bodymate (hip brace for Sciatica), and Aulett Home (cooking products), among others. Through this acquisition strategy, Perch is building a collection of trusted products and brands that consumers can rely on when buying goods online.
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Unique to Perch is its focus on technology to grow and optimize top-performing products, and its implementation of a 48-hour response time to entrepreneurs, enabling the company to engage entrepreneurs directly and to move rapidly and cost-effectively through the acquisition process, benefitting both entrepreneurs and the company.
“There is tremendous opportunity to use technology to create the next generation Consumer Products company,” said Alex Finkelstein, General Partner Spark Capital. “The team at Perch is experienced and brings together the best possible combination of talent for this venture.”
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