Perch, which buys and operates Amazon.com third-party sellers, raises $775M in a Series A funding round led by SoftBank Group's Vision Fund 2. A specific valuation isn't disclosed, but Perch says it exceeds $1B, making the Boston startup a unicorn, or a privately held startup valued at $1B or more. Spark Capital and Victory Park Capital also participate in the round, which brings Perch's total funding to more than $900M. Perch says it's been profitable since its November 2019 inception, and that it's acquired more than 70 brands since then. SoftBank earlier this month said it was tripling the size of Vision Fund 2, its second giant venture-capital portfolio, to $30B from $10B. (colin.kellaher@wsj.com)
(END) Dow Jones Newswires
May 26, 2021 11:14 ET (15:14 GMT)
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