Susquehanna Growth Equity (SGE), a venture capital subsidiary of technology and trading firm Susquehanna International Group, has invested $50m in US-based human relations software producer PerkSpot.
Founded in 2006, PerkSpot has created a software platform that provides money-saving offers from thousands of brands covering consumer goods and a variety of services including home, automotive and financial services.
The product was designed to be offered by employers as a sponsored employee benefit, and so far some 750 corporate clients have signed up to the platform.
The investment represents PerkSpot’s first external funding and is the largest round to be closed by a Chicago-situated company this summer according to Built in Chicago. Scott Feldman, a managing director at SGE, will join the company’s board of directors together with SGE director Josh Elser.
Chris Hill, PerkSpot’s founder and chairman, said: “We are excited to partner with SGE, who share our vision and growth aspirations for PerkSpot.
“In leveraging SGE’s capital and deep expertise, we will continue expanding the service we provide to millions of employees from clients like Southwest Airlines, Walgreen’s, Adventist Health System and Spotify.”