Le Lézard
Classified in: Science and technology
Subject: Funding

Enable, the SaaS Solution for B2B Rebate Management, Secures $45 Million Series B


Enable, a cloud-based software solution for B2B rebate management, has secured a $45 million Series B funding round to continue to fuel the company's growth plans. The round is led by Norwest Venture Partners with participation from previous investors, Menlo Ventures and Sierra Ventures, along with several angel investors. This latest round brings the company's total funding to $62 million. In addition to the raise, Sean Jacobsohn, Partner at Norwest Venture Partners, will join Enable's Board of Directors.

Launched in 2016, Enable's software is used by procurement and finance professionals in distribution and manufacturing across over 50 industries so that they can have an easy, seamless solution to execute and track their full range of trading programs. These departments were previously using manual tools and disparate systems that brought numerous errors and miscalculations resulting in 4% of potential rebate revenue going unclaimed. Enable is helping its clients automate their rebate management processes, so that they can maximize the performance of their B2B deals while improving financial transparency and operational efficiency.

"We're pioneering a new category of software to help our clients succeed with rebate management in a way that enables them to better serve their customers while also accelerating profitable growth," said Andrew Butt, Co-founder & CEO of Enable. "It's been incredible to watch how our product has disrupted an outdated industry and we're excited for what the future has in store as we continue to expand."

The funding comes at a time of rapid growth for the company. Enable has tripled its revenue and customer base since its Series A raise just last year and has more merchants and suppliers in the UK and US than any other comparable software solution. The funds will be used for Product Innovation, Customer Success, and Go To Market roles.

"Manufacturers and distributors spend trillions of dollars in rebates each year. Enable has found a unique opportunity in the supply chain to help ensure the end-to-end rebate management process is streamlined on one central platform, maximizes profitable growth, and that these dollars are accurately accounted for," said Sean Jacobsohn, Partner at Norwest Venture Partners. "We couldn't be more excited to partner with Enable on the journey to help suppliers and distributors be more aligned and in control of their trading agreements."

ABOUT ENABLE

Enable is a modern, cloud-based software solution for B2B rebate management. Companies use Enable to create, execute, and track their full range of trading programs. The user-friendly software empowers distributors, wholesalers, and manufacturers to make better trading decisions to drive mutually profitable growth, while improving cash flow and reducing risk. The company has offices in San Francisco, CA and Stratford-upon-Avon, UK. For information, visit https://enable.com.


These press releases may also interest you

at 09:00
Little Caesars will announce today at DC FanDome, a free virtual DC fan event, that it is seeking cast members for its next commercial entirely on TikTok. The announcement will ask fans to participate in a TikTok casting call to #BeLikeTheBatman. As...

at 08:02
NASA's Lucy mission, the agency's first to Jupiter's Trojan asteroids, launched at 5:34 a.m. EDT Saturday on a United Launch Alliance (ULA) Atlas V rocket from Space Launch Complex 41 at Cape Canaveral Space Force Station in Florida....

at 07:44
Humankind is one step closer to unlocking new knowledge about the formation of our solar system, thanks to a spacecraft named Lucy built by Lockheed Martin . The NASA mission successfully launched from Florida at 5:34 a.m. ET this morning.  ...

at 02:32
The three Chinese astronauts or taikonauts, carried into space on board the Shenzhou-13 spaceship, entered the core module Tianhe of China's space station on Saturday, according to the China Manned Space Agency (CMSA).  ...

at 02:25
Peng Liyuan, wife of Chinese President Xi Jinping and UNESCO special envoy for the advancement of girls' and women's education, on Friday addressed the online award ceremony of the 2021 UNESCO Prize for Girls' and Women's Education....

at 00:13
5G is leading the trend of 2021. According to "The 5G Economy" published by IHS Market, the global 5G industry investment will reach US$4 trillion in 2035, and another US$12 trillion will be invested in related applications driven by 5G. Mr....



News published on 19 august 2021 at 08:35 and distributed by: