Enable, a San Francisco, CA-based startup that sells rebate software to trading partners, raised $120 million in a Series D funding round that values the company at $1 billion pre-money.
The funding round was led by Lightspeed Venture Partners, with participation from all the previous lead investors including Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures, bringing Enable's total funding raised to $276 million.
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends. The firm invests in consumer, enterprise, technology, and cleantech markets. Founded in 2000 and based in Menlo Park, California, the firm has regional offices in Israel, India, China, Southeast Asia, and Europe.
Enable Use of Funds
The company plans to use the funds to invest in research and development to apply artificial intelligence (AI) in its products and also aims to expand globally.
Founded in 2016, Enable is a SaaS rebate management company that offers cloud-based software to manufacturers, distributors, and retailers to manage the rebate program in their supply chain. The platform offers a solution to the complex challenge of managing B2B rebates, helping businesses protect margins, increase revenue, mitigate risk, lower costs, and enhance customer loyalty. Its customers include Schneider Electric and Home Depot. The company now has five offices, located in the UK, San Francisco, Toronto (Canada), Sydney and Melbourne (Australia). Enable now employs about 550 workers across the U.S., Canada, Europe, and Australia.
Company: Enable Global Inc.
Round: Series D
Funding Month: November 2023
Lead Investors: Lightspeed Ventures Partners
Additional Investors: Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures
Company Website: https://enable.com/
Software Category: Rebate Management Software