Enable, a San Francisco, CA-based rebate management platform, raised $120M in Series D funding, at $1.12 billion valuation.
The round, which brought the total amount to $276M, was led by Lightspeed Venture Partners with participation from all previous lead investors Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures.
In addition to the raise, the company added two new members to its Board of Directors:
- Dan Levin, the former President and COO at Box and current member of Box’s board
- Arsham Memarzadeh, a Partner at Lightspeed where he helps lead the firm’s growth practice and primarily invests in product-driven enterprise software companies. In addition to Enable, he has led the firm’s investments in Axonius, ClickUp, Personio, Verkada, and Wiz.
The company intends to use the funds to accelerate the growth of its platform, making the product faster to adopt, able to deliver even actionable insight for additional revenue and profit opportunities, and bringing on new team members to support global growth.
Led by CEO Andrew Butt, Enable helps manufacturers, distributors, and retailers take control of their rebate programs and turn them into an engine for growth. Starting with finance and commercial teams, it allows companies to manage rebate complexity with automated real-time data and insights, forecasting, and cross-functional alignment. This lets companies — and everyone in their business — know exactly where they are with rebates. Then they can extend Enable externally to suppliers and customers, setting them up with one collaborative place to author, agree, execute, and track the progress of their trading relationships.
Enable currently has five locations around the world with over 550 employees, and thousands of companies are using its software globally.