Perlite is a natural filtration system, allowing excess water to easily drain away while retaining a little moisture and catching nutrients that plants need to grow. This is especially true in raised beds and container gardens, but also in the ground as well.
Airflow in the soil is greatly improved in a bed amended with perlite, and that's necessary both for your plant's roots to breathe and for any worms, beneficial nematodes, and other good natural garden inhabitants. Because it's a mineral glass and thus harder than the soil around it, it also helps to slow down compaction, and keeps your soil fluffy and lightweight.