Cloud-based software solution Enable has secured $45m from a Series B funding round led by Norwest Venture Partners.
The round also saw participation from Menlo Ventures, Sierra Ventures and a number of other angel investors. Following the raise, Norwest partner Sean Jacobsohn will just the Enable board of directors.
Founded in 2000, Enable claims it is the leading collaboration platform for maximising the performance of B2B deals while improving financial transparency and driving operational efficiency.
Customers who use Enable are able to model every rebate deal and manage all their deals and rebate calculators on one platform.
According to Enable, it intends to use the newly raised capital to expand operations and its business reach. With the money, the company will focus on expanding the kind of incentives, trading programs and deals that customers will be able to manage, make it easier for customers to onboard and use the platform and extend the range of insights available to customers.
Enable – which has locations in the US and the UK – has extended its presence over both markets in the past year as well as advancing in Canada, Australia and South Africa.
Enable CEO and co-founder Andrew Butt said, “We’re pioneering a software category to help our customers succeed with rebate management in a way that enables them to better serve their customers while also accelerating profitable growth. It’s been incredible to see our customers embrace the technology and gain immediate benefits. We are disrupting an outdated industry with our modern cloud approach, and we are only just beginning.”