Total amount raised
$36.2 Millions
Latest funding date
5/1/2021
Location
PartnerStack has successfully raised funding through multiple rounds, with notable investors including 3L Capital and RRE Ventures. The platform is designed to power and scale partner ecosystems for B2B SaaS companies, simplifying the management of partnerships through automation.
Keep reading to explore the intricacies of PartnerStack's fundraising journey and the investors backing this innovative platform.
What Is PartnerStack?
PartnerStack, founded in 2015, is headquartered in Toronto, Ontario, Canada. The company was established by Bryn Jones, Jonathan Mendes, Luke Swanek, and Neil Chudleigh.
PartnerStack's platform is designed to help B2B SaaS companies accelerate growth through partnerships. It offers tools for building, managing, and scaling channel partner programs.
With a team of 101-250 employees, PartnerStack continues to innovate in the realm of partner ecosystems, providing solutions that simplify every step of the partnership journey.
How Much Funding Has PartnerStack Raised?
- Seed Round
- Amount Raised: $120K
- Date: August 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their platform and establish initial operations.
- Non-Equity Assistance
- Amount Raised: Not publicly disclosed
- Date: October 2015
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To gain strategic support and resources without diluting equity.
- Series A
- Amount Raised: $7.2M
- Date: May 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and enhance platform capabilities.
- Series B
- Amount Raised: $29M
- Date: May 2021
- Lead Investors: 3L Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations, improve platform functionalities, and support remote work.
Total Amount Raised: $36.32M
Current Valuation: Not publicly disclosed
Key Investors
- 3L Capital
- Details: 3L Capital is a venture capital firm that led the Series B funding round for PartnerStack. They focus on investing in high-growth companies leveraging channel partners for expansion.
- Investment Focus Areas: Technology, SaaS, Consumer.
- Notable Investments: Not publicly disclosed.
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that participated in multiple funding rounds for PartnerStack. They have a history of backing companies that achieve hypergrowth through innovative solutions.
- Investment Focus Areas: SaaS, Fintech, Enterprise Software.
- Notable Investments: Not publicly disclosed.
- Whitecap Venture Partners
- Details: Whitecap Venture Partners is a venture capital firm that participated in the Series B funding round for PartnerStack. They invest in early-stage technology companies.
- Investment Focus Areas: Technology, Healthcare, Food Tech.
- Notable Investments: Not publicly disclosed.
- HarbourVest
- Details: HarbourVest is a global private markets investment firm that participated in the Series B funding round for PartnerStack. They provide solutions to institutional investors worldwide.
- Investment Focus Areas: Private Equity, Venture Capital, Real Assets.
- Notable Investments: Not publicly disclosed.
- Real Ventures
- Details: Real Ventures is a venture capital firm that led PartnerStack’s seed round. They focus on investing in early-stage companies that provide innovative solutions.
- Investment Focus Areas: Technology, SaaS, Digital Media.
- Notable Investments: Not publicly disclosed.
What's Next for PartnerStack?
PartnerStack is poised to capitalize on the growing trend of partnerships as a key strategy for SaaS companies. With the recent $29 million Series B funding, they aim to enhance their platform, making it easier for vendors and partners to connect and drive revenue. The company has seen four consecutive years of triple-digit revenue growth, indicating a significant market opportunity.
Future fundraising seems likely as PartnerStack continues to scale, supported by strong investor confidence. However, challenges such as onboarding new partners and managing multiple programs could test their operational capabilities. Addressing these hurdles will be crucial for sustaining their growth trajectory.
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