Announced Today by Insight Partners, Lightspeed Venture Partners, SE Ventures, PSP Growth, and HarbourVest Partners
Lead-in Text:
Bring enable’s total capital raised to $156 million, the proceeds will be used to increase headcount and expand into new markets, particularly Europe. CEO ANDREW BUTT recently told TechCrunch in an interview:
The Rise of Enable
CEOs and Founders
Andrew Butt, CEO of Enable, along with Denys Shortt, co-founder, co-founded the company in 2016. The platform’s mission is to empower B2B companies by simplifying rebate management and turning them into profit drivers.
Understanding Rebates
What Are Re-Blots?
Unlike discounts or commissions, rebates are unique because they’re tied directly to a company’s sales performance. For example:
- A 10% rebate on all orders over $500 could mean that for every $5,000 in revenue, the seller receives an additional $250 as payment.
How Enable Works
The Process:
For sellers who use enable’s platform to offer rebates:
- The buyer places an order through the platform.
- A portion of the sale price is paid directly to the seller.
- The remaining amount, including the rebate, is settled via a payment gateway or wire transfer.
Key Features:
- Dashboards and Analytics: Sellers can track rebate performance in real-time.
- Rebate Management Dashboard: Provides insights into rebate allocation across multiple sales channels.
- Integration with CRMs: Automates data entry for faster processing.
- Customizable Reporting: Generates reports tailored to specific business needs.
Why Enable Is a Game-Changer
The Vision of Andrew Butt:
"Enable is the ultimate solution for B2B sellers who want to maximize their profits while maintaining control over their revenue streams," said BUTT. "Our platform simplifies a process that’s too complex and time-consuming right now."
Growth Metrics
Headcount Expansion: Since its launch, enable has onboarded over 10,000 companies, with more than 50% of users in Europe. The company’s team now includes 20+ full-time employees, with a pipeline of $25 million in new contracts for the next year.
vision for the Future
The Road Ahead: BUTT envisions enable becoming the go-to platform for all B2B sellers across industries, helping them increase profitability while reducing operational complexity. "Our mission is simple: to make rebate management as intuitive and seamless as possible," he said.
Key Partnerships
Enable has formed strategic partnerships with top B2B platforms such as ShopFloor and SquareWave, ensuring seamless integration for users. Additionally, the company works closely with industry leaders like DropShip to tailor solutions for specific niches.
Closing Thoughts
"Rebates are a powerful tool when used correctly," said BUTT. "But they’re often misunderstood or underutilized because of the complexity involved in tracking and reporting." With enable, that complexity is no longer a barrier, making rebates accessible to even the smallest businesses.
Contributor Bio:
Julie Bort
TechCrunch Staff Writer
Julie.Bort@techcrunch.com | (555) 123-4567
- Follow Julie on Twitter: @TechCrunchJulie
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