- Technology-driven commerce company Perch announced it has raised $8 million in funding to buy top Amazon FBA businesses
Technology-driven commerce company Perch announced it has raised $8 million in funding to buy top Amazon FBA (fulfillment by Amazon) businesses with popular products in their categories. This round of funding was led by Spark Capital with participation from Tectonic Ventures.
Perch said specifically it will use the funds to acquire category-leading products, build out its core team, and further invest in infrastructure and technology.
Third-party Amazon FBA products make up over 60% of all Amazon online sales, but many of the most successful entrepreneurs are looking for liquidity or do not have the resources to scale up their products.
Perch is tapping into this market opportunity and through a combination of technology, operational efficiencies, and business relationships, the company believes it can transform Amazon winners into global winners.
Some of the companies that Perch already acquired include Flathead Products (silicone straws), Beachr (sand anchor for beach umbrellas), Bodymate (hip brace for Sciatica), and Aulett Home (cooking products).
Key Quotes:
“We are excited to have raised this round, and are already at work acquiring top products in their respective categories. 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 CEO Chris Bell
“There is tremendous opportunity to use technology to create the next generation Consumer Products company. The team at Perch is experienced and brings together the best possible combination of talent for this venture.”
Alex Finkelstein, General Partner at Spark Capital — who joins the board as its first outside director
