Perkbox announces completion of acquisition by Great Hill Partners
LONDON — (July 1, 2024) — Perkbox, the award-winning global benefits and reward platform, has today announced the completion of its acquisition by Great Hill Partners - a growth equity firm that invests in high-growth, disruptive companies. Perkbox has been acquired alongside Vivup, a leading health and wellbeing benefits provider.
Perkbox was launched as Huddlebuy in 2011 to support small businesses succeed by providing them with hundreds of essential tools and discounts. In 2015, its mission expanded to help employees live better - in life, and at work, at which point Perkbox was born.
Headquartered in London, Perkbox has grown to also have offices in Sheffield and Sydney. And with the support of Molten Ventures (formerly Draper Esprit), it was able to drive its worldwide expansion, enabling it to serve over 3,500 companies and their employees across the globe. From SMEs to large businesses, Perkbox has made a meaningful difference to each of its customers’ employee experiences, retention rates and productivity levels.
Now, in 2024, its merger with Vivup and acquisition by Great Hill Partners marks a new era in its employee benefits and engagement offering. The investment will help the newly strengthened organisation scale its go-to-market capabilities, innovate product offerings, and accelerate organic and inorganic growth opportunities.
Saurav Chopra, Co-founder and Exec Chair Perkbox commented:
“The successful completion of the Perkbox merger with Vivup is a testament to the dedication and hard work of our employees, the unwavering support of our investors, and the guidance of our Board. Thank you to everyone who made this possible.
As we embark on this new journey together, Perkbox and Vivup are poised to deliver unparalleled benefits and wellbeing solutions to over 4 million employees across the UK. I am excited to continue my involvement as a Board Observer and shareholder, supporting our mission to enhance the lives of employees worldwide. ”
Vinoth Jayakumar, Partner at Molten Ventures commented:
“Molten has been part of the Perkbox journey since 2016, and we are delighted to see their future roadmap of delivering employee wellbeing services with Vivup. This outcome for Perkbox is an example of how Molten works closely with our portfolio companies, over the long term, to deliver compelling outcomes, both for the team at Perkbox and for our own investors.”
Doug Butler, CEO of Perkbox, said:
“Saurav and team have built a great business in Perkbox, and I am grateful to have played a small role in their journey so far. Perkbox’s world class engagement solutions alongside Vivup’s best-in-class benefits technology will allow clients to better care for, connect with and celebrate their workers.”
About Perkbox
Perkbox is the global benefits and rewards platform that allows companies to care for, connect with and celebrate their employees, no matter where they are and what they want. With over 10 years’ experience, Perkbox is trusted by thousands of companies with users across the globe. Its location agnostic globally available platform helps companies with diverse and dispersed workforces harmonise their Employee Value Proposition (EVP) — keeping each employee happy, healthy, and motivated.
About Vivup
Since 2005, Vivup has been providing world-class health and wellbeing benefits to employees across the public and private sectors while arming employers with the tools to cultivate resilient workforces, retain great staff and win the war on talent. Vivup partners with almost 4,000 clients and supports 3.3 million+ employees throughout the UK.
Vivup was awarded UK Employer of the Year at the Investors in People Awards in 2022 and won Best Supplier to Work for at the Employee Benefits Awards in 2023. Simon Moyle, CEO was awarded UK Leader of the Year at the Investor in People Awards in 2022 and won Scale up Entrepreneur of the Year (North East) at the Great British Entrepreneur Awards in 2023. Vivup has also just been awarded Number One SME in the UK by Elite Business.
About Great Hill Partners
Founded in 1998, Great Hill Partners is a private equity firm targeting investments in high-growth companies across the software, digital commerce, financial technology, healthcare, and digital infrastructure sectors. With offices in Boston and London, Great Hill has invested in more than 95 companies, establishing an extensive track record of building long-term partnerships with entrepreneurs and providing flexible resources to help middle-market companies’ scale. Great Hill has been recognized for its industry leadership, being ranked #4 in the 2023 HEC Paris-Dow Jones Mid-Market Buyout Performance Ranking on March 6, 2024, which evaluated fund performance of 632 leading private equity firms between 2010-2019. For more information, including a list of all Great Hill investments, visit: www.greathillpartners.com.
About Molten Ventures
Molten Ventures plc is a leading venture capital firm in Europe, developing and investing in disruptive, high growth technology companies. We believe it is our role to support the visionary entrepreneurs who will invent the future. We fuel their growth with our ‘energy’ in the form of truly patient capital, access to international networks and decades of experience building businesses. Currently, Molten Ventures is a shareholder in a diverse portfolio of companies including Thought Machine, Coachhub, Aiven, Ledger and Aircall. For more information please visit: www.moltenventures.com