Enable, a platform for managing B2B rebates, is now worth $1B Kyle Wiggers@kyle_l_wiggers / 6:30 PM GMT+5:30•November 7, 2023 Comment There’s a new unicorn in town, and its name is Enable. A rebate management platform, Enable today announced that it raised $120 million in a Series D funding round that values the company at $1 billion pre-money. Lightspeed Venture Partners, Menlo Ventures, Norwest Venture Partners, Insight Partners and Sierra Ventures participated, bringing Enable’s total raised to $276 million. Enable provides a platform that businesses — specifically manufacturers, distributors and retailers — can use to keep track of their business-to-business (B2B) rebates. Companies often extend B2B rebates to customers when those customers achieve some benchmark, such as reaching a certain total spend, purchasing a product collection or submitting a customer referral. The challenge becomes maintaining records on and designing these benchmarks as well as a buyer’s progress toward them, ensuring that customers receive all the rebates to which they’re entitled. Enable, which co-founder and CEO Andrew Butt co-founded in 2016 with Denys Shortt, surfaces B2B rebate deal and incentive data, delivering insights into what’s owed versus collected and the status of customer agreements.
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