Perch, a go-to leader in velocity-based training technology, announced a record year in 2022 of new customer onboarding, product adoption, key executive hires, and funding expansion.
According to Perch co-founder Jacob Rothman, the momentum and rise in demand can be attributed to the growing number of players and coaches – particularly those in the NFL, NBA, NHL, MLB, MLS, and NCAA – who are increasingly looking to improve overall athlete performance in the weight room and on the field, while reducing the risk of injury.
“Perch has seen incredible growth over the past 12 months. A result of the hard work of our team, the exponential improvement of the product, and the impact we have made on athletes and colleges, from professional to high school ranks,” he added. “We are so grateful to have the opportunity to support these hard working athletes and teams.”
Customer & Sales Growth
New customers and device installs, and subsequent sales increases, have accelerated Perch’s growth in 2022. Key milestones included:
- Perch has installed 100s of devices across dozens of the most elite weight rooms in the world. Among the new customers: New England Patriots (NFL), Pittsburgh Steelers (NFL), Miami Heat (NBA), Toronto Maple Leafs (NHL), Auburn Tigers (NCAAF), Wake Forest Demon Deacons (NCAAF), Oregon Ducks (NCAAF) and Baylor Bears (NCAAM). Devices were also installed at various military bases, fitness and performance facilities, and numerous high schools and home gyms across the country. Perch now counts over 1/3 of the NFL, half the ACC, half the SEC, and more as members of their customer base.
- Increased volume of usage and growth, capturing more than 2 million weightlifting sets and 8 million total reps. To date, over 350 million pounds have been lifted on Perch.
- Tripled Annual Recurring Revenue (ARR), despite recent economic uncertainty.
Funding Expansion
In September, Perch announced the raise of a $4 million financing round, bringing the total amount raised by the company since its founding in 2017 to $6 million. The series seed-plus round included investment from Bradley Bloom, Ledgeways Ventures LLC, and a co-founder of Berkshire Partners LLC, along with Perfect Game Capital, a Washington, D.C. area family office that specializes in sports and sports technology investments. Among the new investors is also Miami Dolphins cornerback Byron Jones.
Company Expansion
At the start of this year, Perch had less than 10 employees. Now the team, which is located at the Industry Lab co-working space in Cambridge, Massachusetts has about 20 team members.
Awards and Accolades
Perch founders Jacob Rothman, Nate Rodman and Jordan Lucier were among a stacked list of athletes, founders and executives honored on the annual Forbes 30 Under 30 list. The trio were recognized in the sports category, alongside Dallas Cowboys quarterback Dak Prescott, three-time NBA All-Star Devin Booker, Toronto Blue Jays first baseman Vladimir Guerrero Jr., top-ranked women’s golfer Nelly Korda, and retired professional soccer player Haley Rosen.
Looking Ahead
Looking ahead to 2023, Perch aims to expand its fast-growing and high-profile customer base to over 300 sports teams and facilities nationwide. In addition, Perch will continue to enhance its core data collection software, while further expanding into other markets such as the U.S. military, fitness and performance facilities, international sports, high schools, and home gyms across the country. Finally, Perch is planning to bolster its team with the hire of engineers in data science and machine learning, as well as marketing, sales and manufacturing employees. Company plans call for having 30-35 total employees in the next 12 months.
About Perch
Founded in 2017 by three former student athletes at MIT, Perch uses cameras and machine learning to monitor movements during exercise and enhance an athlete’s motivation, safety and performance in the weight room. Today, Perch is helping a growing number of players and coaches – including those in the NFL, NBA, NHL, MLB, MLS, and Power Five conferences – improve overall performance in the weight room and on the field. The company’s scope has also expanded to various military bases, fitness and performance facilities, and a growing number of high schools across the country.
Disclaimer:
The information contained in this article is for educational and informational purposes only and is not intended as a health advice. We would ask you to consult a qualified professional or medical expert to gain additional knowledge before you choose to consume any product or perform any exercise.
