Pros
Driven by "Perforce Commandments" such as "we are one team," "fun is always an option," and "these are the best years of our lives," for many years Perforce was consistently ranked one of the best companies to work for in the Bay Area, and it shows in the many talented and loyal people the company was able to attract over that time, some of whom are still at the company.
Cons
Since the acquisition by Summit Partners at the start of 2016 the atmosphere has changed radically. Many people have been laid off and benefits/perks are rapidly being eroded in the name of uniformity and cutting costs, resulting in a brain drain as even those with secure positions depart for greener pastures (and there are plenty of those in the Bay Area right now) of their own volition. The new upper management demonstrates very little regard for or understanding of either the product or the employees. Nobody can say what the overall strategy is for the product and nobody dares ask. When the execs think they can get away with it they threaten and belittle like petulant schoolyard bullies, and when they need to turn on the charm the best they can manage is to come across as unctuous Bond villains. As an employee your best options are to either keep your head down and hope they don't notice you, or gulp the kool-aid and hope they'll decide to reward you when (if?) they're able to flip the company to a new buyer.