Collaborative rebate management platform Enable has raised $94 million in Series C financing.
Enable helps manufacturers, distributors and retailers take control of their rebate programmes and turn them into an engine for growth.
Starting with finance and commercial teams, Enable helps them better manage rebate complexity and optimise sales and profit with automated real-time data and insights, accurate forecasting, and stronger cross-functional alignment.
This lets the teams — and everyone in the business — know exactly where they are with rebates internally and across the supply chain.
Enable then creates a pathway for businesses to reach out externally to suppliers and customers, driving purchasing behaviour through one collaborative place to author, agree upon, execute on, and track the progress of deals.
The round, which brings the UK-founded company’s total funding to $156m since 2020, was led by global software investor Insight Partners with participation from Lightspeed Venture Partners, HarbourVest Partners, SE Ventures, PSP Growth and existing investors including Norwest Venture Partners, Menlo Ventures and Telstra Ventures.
The investment will be used to accelerate the growth of the company’s rebate management platform, which manufacturers, distributors, and retailers use to easily manage their rebate strategies and turn them into an engine for growth.
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“It’s our goal to ensure rebate strategists, CFOs, and chief purchasing officers have the key information they need at their fingertips in order to drive the next best decision for their business,” said Andrew Butt, co-founder & CEO of Enable (profiled above).
“Until now, it’s been nearly impossible to get accurate, up-to-date, granular data that lets you understand your true rebate returns, and that lets you accurately forecast and accrue for rebates. Enable’s rebate management platform lets you do this while collaborating internally and across your supply chain on one trusted platform.”
The company is set to more than double its revenue by year end. It has grown from 100 employees two years ago to over 400 today, with thousands of companies using its platform across North America, Europe and Australia.
To accommodate this growth, Enable opened a facility in Toronto, Ontario last year and a fourth location in Sydney, Australia last month.
Philine Huizing from Insight Partners will join the board of directors at Enable, which is now headquartered in San Francisco.
“Rebate management in spreadsheets is untenable today as rebates have become more frequent, complex, and critical to profitability for millions of trusted trading relationships,” said Huizing.
“With Enable’s top-notch leadership team, tremendous growth, and scalable rebate product, the company is well-positioned to solve these challenges. We’re thrilled to partner with Andrew and team on this exciting next chapter in Enable’s ScaleUp journey.”