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

The Series C round was led by Insight Partners and included participation from Lightspeed Venture Partners. Andrew Butt, the CEO of Enable, said in an interview that the capital raised will be used to increase headcount and expand into Europe.

In the consumer space, rebates are a familiar concept, but in B2B they are different. When customers achieve a benchmark, such as total spend, purchasing a collection of products or a marketing referral, B2B companies will give them a rebate. Ensuring customers receive the rebates to which they're entitled and fostering relationships is one of the challenges.

Butt and Denys Shortt founded Enable to remove some of the burden of rebates and turn them into profit drivers. The platform provides insights into what's owed versus collected, the status of rebate deals and what's on the horizon.

He co-founded and sold a property management software-as-a-service vendor to a private equity firm. One formula error can break the data for many organizations. Many people don't understand the data and how these deals work because it's the responsibility of one employee.

The image is called enable.

Enable provides collaborative dashboards to author, execute and track deals. The platform, which allows customers to create joint business plans, also forecasts rebate activity, trying to guarantee companies that they'll be able to pay and collect on all rebates owed

There are special pricing agreements that connect to a company's supply chain to improve transparency on claim backs. There are new services to manage a wider range of incentives, including a module that allows sales and pricing teams to align around large deals and a commission system that delivers rebate status tracking.

According to Butt,Enable helps companies incentivize the purchasing behavior of partners while also making sure they collect all incentives owed to them. Microsoft excel spreadsheets and overextended enterprise resource management platforms are our main competitors.

After expanding to the U.S. and Canada, Butt claims that the number of companies using the platform has increased year over year. The company employs 400 people in the US, UK, Canada and Australia.

The Series C round adds fuel to the growth that we have been able to achieve. It helps extend our vision. Incentives are thebates. They are a way to get partners to behave. As we continue our growth, we will add products that enhance partners alignment on goals and incentives, as well as increasing transparency and easing friction, so that every partner can flourish.