Total amount raised
$276 Millions
Latest funding date
Location
Enable has successfully raised funds through multiple rounds, with its latest funding round occurring on January 3, 2024, from Gaingels. The company specializes in a cloud-based software tool for business-to-business rebate management.
With a diverse group of 14 investors, including Lightspeed Venture Partners, Enable continues to innovate in the B2B sector. Keep reading to explore the intricacies of Enable's fundraising journey and the investors backing this innovative platform.
What Is Enable?
Enable, founded in 2016, is based in San Francisco, California. The company specializes in a cloud-based software platform for business-to-business rebate management.
Founded by Andrew Butt, David Hunt, and Denys C. Shortt, Enable aims to help distributors, manufacturers, and retailers manage rebate deals precisely to drive profitable growth.
With a workforce of 501-1000 employees, Enable continues to innovate in the B2B sector, providing solutions that optimize financial outcomes and improve trading partner collaboration.
How Much Funding Has Enable Raised?
- Series A
- Amount Raised: $17M
- Date: March 2020
- Lead Investors: Menlo Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance the rebate management platform, enabling better financial outcomes for customers.
- Series B
- Amount Raised: $45M
- Date: August 2021
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand market reach, addressing the growing demand for rebate management solutions.
- Series C
- Amount Raised: $94M
- Date: October 2022
- Lead Investors: Insight Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and enhance the platform's capabilities, driving further growth and customer success.
- Series D
- Amount Raised: $120M
- Date: November 2023
- Lead Investors: Lightspeed Venture Partners
- Valuation at Round: $1.12B
- Motivation Behind the Round: To drive growth and trust in the supply chain industry, enhancing the platform's adoption and delivering more actionable insights.
- Venture Round
- Amount Raised: Not publicly disclosed
- Date: January 2024
- Lead Investors: Gaingels
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding the platform's capabilities and support ongoing growth initiatives.
Total Amount Raised: $276M
Current Valuation: $1.12B
Key Investors
- Lightspeed Venture Partners
- Details: Lightspeed Venture Partners is a venture capital firm that focuses on early-stage investments. They have a strong presence in the enterprise and consumer sectors.
- Investment Focus Areas: Enterprise, consumer, health sectors
- Notable Investments: Snapchat, Nest, GrubHub
- Insight Partners
- Details: Insight Partners is a global private equity and venture capital firm. They specialize in growth-stage technology and software companies.
- Investment Focus Areas: Technology, software, internet businesses
- Notable Investments: Twitter, Shopify, DocuSign
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage investment firm. They invest in a wide range of sectors, from early to late-stage ventures.
- Investment Focus Areas: Technology, healthcare, business services
- Notable Investments: Spotify, Uber, BlueJeans
- Menlo Ventures
- Details: Menlo Ventures is a venture capital firm that provides capital for seed through growth technology companies. They have a strong focus on consumer and enterprise technology.
- Investment Focus Areas: Consumer technology, enterprise technology
- Notable Investments: Uber, Roku, Siri
- Sierra Ventures
- Details: Sierra Ventures is a venture capital firm that invests in early-stage technology companies. They focus on helping startups grow and scale.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Sourcefire, Intuit, MakeMyTrip
What's Next for Enable?
Enable stands at the cusp of significant growth opportunities, driven by the increasing complexity and importance of rebate management in the supply chain. With a robust platform that already serves over 10,000 brands, the company is well-positioned to expand its customer base and enhance its offerings with AI and improved data management capabilities. The recent acquisition of Profectus Group’s rebate deals management platform further solidifies its market presence and opens new avenues for growth.
Future fundraising opportunities appear promising, given the successful Series D round and the company's rapid growth trajectory. Enable's strong financial backing and strategic board appointments suggest that additional funding rounds could be on the horizon to support further expansion and technological enhancements. The company’s valuation of $1.12 billion underscores the significant market potential and investor confidence.
However, Enable may face challenges such as managing the complexities of scaling operations, integrating new technologies, and staying ahead of competitors. Ensuring the platform continues to meet the evolving needs of its customers will be crucial. Despite these challenges, Enable's strategic focus on delivering actionable insights and enhancing product adoption positions it well for sustained growth and success in the rebate management sector.
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