Perk

What they do

Perk (formerly TravelPerk)  is a global AI-powered platform that takes care of the work behind every trip, expense, and payment for over 12,000 companies.

Powered by AI and automation, Perk helps businesses save time, reduce costs and eliminate the manual workflows that slow teams down. Trusted by global brands like On Running, Breitling, Aesop, and Nord Security, the company offers a seamless all-in-one platform to:

• Simplify travel booking and event management
• Automate spend and payment workflows
• Boost productivity by removing everyday “shadow work”

For CFOs, Perk offers an integrated solution that enforces travel policies, facilitates VAT reclaim, and ensures compliance with regulatory standards such as emissions reporting and duty of care. Notably, over 65 percent of its new clients were previously unmanaged - booking their trips on different services without coordination and control - highlighting the platform’s appeal amid a significant industry shift.

Why Kinnevik invested in Perk

The corporate travel industry, currently sized at over USD 1.6tn, is ripe for transformation. CFOs demand transparency and control over what is often the second largest controllable expense after payroll, while corporate travelers expect a modern, consumer-grade experience. Kinnevik sees Perk as uniquely positioned to capture this opportunity as it’s the only European integrated travel and spend platform that delivers an end-to-end solution for its customers. In addition, the company enjoys:

• An enormous market potential with clear gaps in legacy travel solutions
• A consumer-like, self-serve model that drives organic, employee-led adoption and hypergrowth
• Superior marketing efficiency in acquiring and retaining corporate customers within a “walled garden” environment

Co-founded by Avi Meir, Perk is led by a strong executive team committed to redefining how businesses manage travel, spend and events. With the acquisition of Yokoy, the company has extended its focus towards a broader integrated multi-product platform. To continue creating value, Perk focuses on:

• Further accelerating growth, with continued expansion in the US through strategic acquisitions and deeper integrations
• Continued sizable investments into product, technology, and AI to deliver the leading travel, spend and events management platform for small and midsize businesses in the US and Europe

Other investments