London matcha brand PerfectTed expects to pass $100m (about £75m) in annual recurring revenue this year as it turns five. The company raised a Felix Capital-led round at a £140m valuation last October, and all of its roughly 80 staff hold equity.
PerfectTed was started at a kitchen table in 2021 by brothers Teddie and Levi Levenfiche and Marisa Poster, Levi's wife. The founders set out to bring higher-quality matcha to the UK and now describe PerfectTed as the country's largest matcha brand.
From the Den to $100m
The business came to wider attention in 2023, when it received five offers on BBC's Dragons' Den. Steven Bartlett is on the cap table. The product range now runs from matcha powder and Nespresso-compatible pods to canned lattes and energy drinks, sold in more than 50 countries.
Marking its fifth anniversary this week, the company said it is on track to exceed $100m in annual recurring revenue this year. Speaking to BusinessCloud, Teddie Levenfiche said PerfectTed has grown faster than both Huel and Innocent.
The numbers behind the valuation
Felix Capital led PerfectTed's most recent round in October 2025, at a valuation of £140m. The amount raised was not disclosed in the latest reporting.
Set against this year's revenue target, the £140m valuation implies a multiple of under two times forward revenue. No new valuation has been disclosed since.
Ownership is spread across the team. All of PerfectTed's roughly 80 employees hold a stake in the company.
Where the money goes
PerfectTed runs most of its operation in-house, including product formulation. It employs its own R&D scientists rather than using an outside food science agency, and runs weekly review cycles that keep refining products already on shelves.
Its supply chain is built on direct relationships with farmers. The founders still travel to Japan every month to meet suppliers, cutting out the layers of wholesalers and distributors that sit between growers and buyers in the traditional matcha trade.
International sales now make up 30% to 35% of the business. Levi Levenfiche, who oversees finance and operations, is focused on the US, while Teddie leads supply chain and sales. The company has recently moved into new offices in the Tea Building on Shoreditch High Street.
What's next
The founders' stated goal is to build the world's first billion-dollar matcha brand. With revenue approaching $100m and the last round priced at £140m, any next raise or strategic approach would set a new price for the business.
Original source: BusinessCloud — https://businesscloud.co.uk/news/perfectted-turns-5-you-have-to-lean-into-the-chaos/
