Beringea backs Perfect Channel’s series-A

Funds from the investment will be used to expand the senior management team, launch in the US and continue technical development.

Beringea used its ProVen Venture Capital Trusts (ProVen VCT, ProVen Growth & Income VCT and ProVen Planned Exit VCT) to finance the deal.

Auction-related companies are attracting an increasing amount of institutional funding. In April this year, German online art auction house Auctionata received €21.5m in a series-B financing round from backers including Holtzbrinck Ventures, e.ventures and Earlybird.

Company
Founded in September 2011, cloud-based Perfect Channel provides an end-to-end auction solution for businesses, with services across auction design, auction management and post-auction analytics.

It manages up to 60,000 simultaneous bidders across the UK, the US and Europe. Its clients include Christie's Lloyd's of London and LeasePlan and handled transactions worth £2bn in its first two years.

People
Rob Hodgkinson is investment manager at Beringea and joins the Perfect Channel board. Phil Bird is CEO of Perfect Channel.

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• Topics
• UK / Ireland
• Expansion
• Consumer
• United Kingdom
• Beringea Limited