Indianapolis-Based Marketing Tech Company PERQ Raises $6 Million

By Dan Anderson ● July 11, 2019
  • PERQ announced it raised $6 million in funding to grow its AI-driven marketing cloud for big-ticket retailers

PERQ — an Indianapolis, Indiana-based marketing technology company — announced it raised $6 million in funding to grow its AI-driven marketing cloud for big-ticket retailers. This round of funding comes exclusively from Midwest technology leaders and it is led by Poplar Ventures L.P. in Louisville, Kentucky.

“The funds raised during our Series A will provide more than ample capital to support the continued growth and development of the PERQ Marketing Cloud and our innovative marketing technology solutions,” said PERQ CEO and co-founder Andy Medley. “We are excited to have all of these great investors on board.”

PERQ’s AI-powered digital marketing software is increasing the sales and gross profits for more than 1,000 businesses in the automotive, multifamily and home furnishing verticals. And its award-winning technology including PERQ’s recently launched Marketing Cloud is known for helping businesses better engage with consumers thus capturing unique user data that is leveraged in personalized marketing campaigns to increase conversion and sales. And the solution has driven company growth in excess of 100% annually for the past 3 years.


Other investors and investment groups that joined the round include Elevate Ventures, Allos Ventures, Collina Ventures, 4G Ventures, Great Blue Venture, Jupiter Peak, Tim Kopp, and four other local angel investors. This round of funding 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.

“PERQ’s growth and its outstanding customer results, along with the $10B+ addressable market size, drove our decision to invest,” added John Willmoth — the founder and Managing Partner of Poplar Ventures. “Today’s digital shoppers 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.”