The new funding will be used to invest in collaborative products and expand the team, with plans to increase headcount from 550 to 600 by year-end. Enable also plans to enhance its rebate management platform with improved claims management, increased data management capabilities, improved scalability for rebate programs, and the integration of AI. The company recently acquired Profectus Group’s rebate deals management platform, expanding its customer base to Australia and enhancing its auditing and compliance technologies.
Key takeaways:
- Enable, a B2B rebate platform based in San Francisco, has raised $120 million in a Series D funding round, reaching a valuation of $1.12 billion.
- The funding round was led by Lightspeed Venture Partners and included participation from Menlo Ventures, Norwest Venture Partners, Insight Partners and Sierra Ventures.
- Enable's platform provides a solution for managing B2B rebates, addressing challenges in tracking and managing these incentives.
- The company plans to use the new funding to invest in collaborative products, scale its team, and enhance its rebate management platform with improved processes and the integration of AI.