Enable lands $94M to help B2B companies manage their rebate programs • TechCrunch

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Can, a startup that sells access to a platform that helps businesses (B2B) businesses manage their rebates programs, announced today that it has raised $94 million in an order-to-order Series C round led by Insight Partners with the participation of Lightspeed Venture Partners, SE Ventures and PSP Growth and HarbourVest Partners. By raising Enable’s total capital to $156 million, the proceeds will be directed toward increasing staffing and expanding into new markets, particularly Europe, CEO Andrew Butt told TechCrunch in an interview.

Discounts are a familiar concept in the consumer space, but they tend to work a little differently in B2B. B2B companies offer rebates when their customers meet some criteria, such as total spend, purchase of a suite of products, or a marketing referral. The challenge becomes tracking and progressing towards these standards, ensuring that customers receive the rebates they are entitled to and – in the process – strengthening relationships.

Enable, which Bot co-founded in 2016 with Denys Shortt, aims to remove some of the burden of discounts and ideally turn them into profit engines. The platform displays data on deal terms and sales incentives for manufacturers, distributors and retailers, providing insights into what’s due for what’s collected, the status of discount deals and what’s on deck.

Pat says he was inspired to launch the company through his B2B experiences, including at Enable Informatix, a property-management-as-a-service software vendor he co-founded and sold to Sovereign Capital in 2010. “For many organizations, data is usually anonymised. Discount and incentives on huge spreadsheets where one mistake in the formula breaks everything,” Pat said. “This data is often the responsibility of one employee, which means that few people understand the data and how these deals work.”

Can

Image credits: Can

In contrast, Enable provides collaborative dashboards for authoring, executing, and tracking the progress of discount deals. The platform, which allows customers to create joint business plans, also predicts rebate activity, in an effort to ensure businesses will be able to pay and collect all rebates owed.

Enable recently launched a proprietary pricing agreement product that connects to a company’s supply chain to improve transparency on returns, and agreements between distributors and manufacturers based on sales to the contractor. Elsewhere, Enable introduced new services to manage a broader range of incentives, including a module that allows sales and pricing teams to match big deals and a commission system that provides discount status tracking for manufacturers.

“Empowerment helps companies motivate the purchasing behavior of partners while ensuring that they collect all the incentives they owe,” Pat said. “Our biggest competitor is Microsoft Excel spreadsheets or extended enterprise resource management platforms.”

Pat claims that about 10,000 companies are using the Enable platform today and that this growth is “accelerating” year on year following expansion into the US and Canada (although he doesn’t specify “growth”). Enable employs 400 people, and the company expects to end the year with 435 people across the US, UK, Canada and Australia.

“We have been very successful with our growth in this market, and [the Series C] The tour adds fuel to this growth. At the same time, it helps us broaden our vision.” “Rebates are incentives. It is an essential way to drive behavior between partners. Our vision is to enable thriving partner ecosystems, so as we continue to grow, you will see us add products that enhance partner alignment with goals and incentives while increasing transparency and reducing friction, allowing each partner to thrive.”

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