SoftBank Group Corp's Vision Fund 2 has led a US$775 million investment in Perch, a technology firm that buys and operates third-party brands that sell their products on Amazon.com Inc.
The Series A funding will make Perch a so-called"unicorn" - implying a valuation of US$1 billion or more and brings the company's total funding to date to over US$900 million, it said on Wednesday.The funding is the largest ever Series A raised by a consumer goods company, nearly quadrupling the previous record, according to Crunchbase data.
Boston-based Perch's portfolio also includes brands that sell into brick and mortar retailers such as Target Corp, Walmart Inc, Costco Wholesale Corp and Kroger Co.
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