Perk (formerly TravelPerk) unites travel and spend in one intelligent AI-native platform
New Forrester Consulting research, commissioned by Perk, reveals businesses lose $1.7 trillion a year to the non-core work the platform is built to eliminate
Perk crosses $300m in annualized revenue and doubles down on global expansion with dual headquarters in Boston and London

TravelPerk today announced its rebrand to Perk, launching a new platform that unites travel and spend management in one seamless, AI-native experience. The rebrand also marks the next step in the company’s transformation, with a broader mission to eliminate the hidden, time-wasting tasks that drain productivity - from booking trips and filing expenses, to coding invoices and chasing approvals.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20251103781070/en/

The new Perk platform that unites travel and spend management in one seamless, AI-native experience

Perk calls these tasks ‘shadow work’: the invisible, non-core work employees do outside their main job. New research conducted by Forrester Consulting, and commissioned by Perk, reveals that shadow work costs businesses $1.7 trillion a year across six major economies - the US, UK, France, Germany, Spain and the Netherlands. On average, every employee loses approximately seven hours per week to these tasks, and 11 minutes of focus every time they try to switch back to real work.

Perk’s intelligent platform now automates two thirds (67%) of the most frustrating non-core work, including booking travel for work, filing expenses, managing invoices and organizing team events. Unlike fragmented solutions, Perk delivers a single, global platform experience that enables companies to set the rules once and have them applied everywhere.

“More than a decade ago, we started by removing the friction from traveling for work,” says Avi Meir, Perk CEO and Co-Founder. “Over time, we realized those small, frustrating tasks people do outside of their core job weren’t just hiding in travel, they were everywhere. To truly solve the problem, we first had to grasp its scale, and the numbers from the research surprised even me. How can a 1,000 person company afford to lose around 7,000 hours to shadow work every week? Perk gives companies the fuel they need to make work simpler and give people their time back.”

Perk's mission to power real work is reinforced by its new Spend Management capability, an AI-native module, which automates the everyday shadow work - from expenses and invoices to card payments - that slows teams down. With Perk Pay companies can issue physical cards that simplify spending while keeping every transaction under company control. It centralizes oversight of company spending, reduces fraud risk, and automates expense reconciliation.

Learning from real-world trips, receipts, invoices, and payments, an in-house AI lab powers Perk to continuously learn from anonymised data and automate work faster and more accurately for 10,000 companies worldwide. Perk is built to deliver results from day one, with deep integrations and an open ecosystem that connects seamlessly with leading ERP, HRIS and expense tools - giving businesses flexibility to streamline operations and simplify workflows.

As Perk surpasses $300 million in annualized revenue, the company is establishing dual headquarters in Boston and London to reflect its global scale and ambition. With two strategic acquisitions in less than a year, Series E financing fueling innovation, significant AI investment, plus a footprint of over 1,800 employees across 12 global offices, the company is entering a new phase of accelerated growth.

By numbers: the hidden impact of shadow work on teams:

69% of employees do shadow work during working hours
45% cite it as the biggest driver of burnout
52% of employees report shadow work is rising year-on-year
50% say shadow work reduces their job satisfaction
70% of employees welcome AI-enabled tools to help cut shadow work

Approximately 67% of decision makers surveyed plan to reinvest the time saved through automation into growth and innovation.

Methodology:

The study included surveys of 721 decision-makers in finance, operations, HR, and IT, and 8,004 employees across the US, UK, Germany, France, Spain, and the Netherlands.

About Perk

Perk (formerly TravelPerk) is the intelligent platform for travel and spend management, built to eliminate the hidden, manual tasks that drain productivity and morale - Perk calls these ‘Shadow Work’. By automating travel bookings, expenses and invoice processing, the platform gives teams back time to focus on real work, with real impact. Trusted by more than 10,000 companies worldwide - including Wise, On Running, Breitling and Fabletics - Perk is tackling the 7 hours of lost productivity per employee each week, a $1.7 trillion problem revealed in The Cost of Shadow Work report. Founded in 2015, the global company combines innovation, control, and simplicity to transform how businesses work today and in the future. Perk’s mission is to power real work by removing the invisible tasks that slow teams down.

Visit www.perk.com

View source version on businesswire.com: https://www.businesswire.com/news/home/20251103781070/en/

press@perk.com

Logo

Images

Tags

More Like This

Perk Secures $300 Million Credit Facility to Accelerate Global Growth of Its AI-Native Platform

TravelPerk Unveils Bold New Brand to Redefine the Future of Business Travel

TravelPerk Secures over $100m in Funding Led by SoftBank Vision Fund 2 to Expand Hyper-Growth Business Travel Platform

TravelPerk Raises $200M and Acquires Yokoy to Create the Leading Integrated Travel and Expense Management Platform

EQT co-leads TravelPerk's USD 200 million Series E

TravelPerk launches new medical and baggage insurance add-on to meet the growing need for complete cover when travelling for work

Spendesk Expands Into Corporate Travel With a Unified Spend Platform for Booking, Payment, and Control

New Survey Reveals the Pressure to Innovate Is Skewing Corporate Spend Decisions in the UK