Relocation software PerchPeek raises $11m

US talent shortages are at a ten-year high according to Manpower Group. This climate, commonly referred to as the ‘Great Resignation‘, has led to huge investment in HR tools.

In an attempt to recover from staff shortages, many companies have invested in talent from further afield, but now that offices are being re-opened there are concerns about human interaction.

Relocation software PerchPeek intends to solve this problem and its investors have backed the company significantly.

Rather than going through a seemingly endless list of processes, PerchPeek has streamlined this process while allowing employees the ability to request transfers. Currently, the platform supports 25 countries and boasts the ability to save customers up to 70% in relocation costs.

The company raised £8 million in its Series A funding round that was co-led by Stage 2 Capital and AlbionVC.

Investing in relocation

Discussing the current relocation market, Paul Bennett, co-founder and CEO of PerchPeek, commented: “There are record numbers of job openings yet many employers are having a hard time hiring workers. According to Monster, 87% of UK employers are struggling to fill positions as a result of the talent gap.

“As such, employers are finding ways to source and attract foreign talent which, for companies like Impala Travel and INEOS, has meant enticing them to move around the world.”

Despite this, Bennett highlights the fact that relocation processes are difficult and messy. This difficulty can lead to moves failing and talent looking elsewhere.

PerchPeek believes it can simplify this problem and has already seen relocations to the US up 40% vs six months ago and up 470% vs one year ago.

Going forward, the company intends to broaden its functions. Bennett explains: “Our latest investment will enable us to expand our operations and technical capabilities to cater to this surge in interest from HR and mobility teams.

“Integrating multiple relocation processes in dozens of countries in one app is a huge technological challenge that requires a world-class team and so the majority of our funds are being used to keep building out our platform.”

Nadine Torbey, investment manager at AlbionVC, expressed excitement about the investment: “The pandemic has accelerated the shift in the way people choose to work and live. Relocation is one of the most desirable experiences of working professionals, yet it remains painful and archaic.

“PerchPeek is the long-awaited disruption that will help unlock the full market and enable an increasingly mobile and global talent pool.

“Its mover-centric app has fostered a community of fervent fans among both movers and corporates, creating incredible momentum in a short period of time.”

Time will now tell whether the future of relocation can be simplified for the previously dispersed workforce.