Funding to extend Impartner's leadership in channel technology which enables companies to scale, grow and optimize indirect sales
SALT LAKE CITY, Oct. 13, 2021 /PRNewswire/ -- Impartner, the global pure-play leader in SaaS-based channel management and Partner Relationship Management (PRM), today announced it has raised $50 million in funding. Brighton Park Capital ("Brighton Park"), a growth equity investment firm that specializes in partnering with growth-stage software, healthcare and tech-enabled services businesses, led the round with participation from existing investors Savant Growth, Emergence and Golub Capital. The investment, which brings Impartner's total funding to date to over $113 million, will capitalize on Impartner's growth initiatives by accelerating the company's aggressive roadmap, bolstering sales and marketing resources, and expanding customer success initiatives to support the company's growing global customer base.
This latest round of investment follows Impartner's rapid year-over-year revenue growth as the pure-play channel management technology market leader. Impartner has recently been named a leader in the "The Forrester Wave™: Partner Relationship Management, Q4 2020," a G2 Crowd PRM leader for four consecutive quarters, the global winner in Research In Action's Vendor Selection Matrix for Partner Relationship Management (PRM) and for Channel Marketing and Enablement (CME), and won numerous national and international awards. Impartner customers, who range from SMBs to Fortune 50 across multiple verticals, see tremendous value from the use of Impartner's platform, including an average of 32 percent growth in channel revenue and a 29 percent reduction in administrative costs in the first year of use alone.
"Technologies that enable companies to optimize the partner experience, automate the operational basics of their channel and accelerate indirect revenue, are table stakes for running a channel effectively," said Jeff Machlin, Partner at Brighton Park. "Impartner is a proven leader in the space, delivering a unique turnkey solution that enhances revenue, decreases costs, and most importantly provides the visibility and analytics that companies need to maximize their channel investment. We are thrilled to partner with Joe and his growing team, and excited to support the company as it continues on its impressive growth trajectory."
"We are proud of our success in leading the channel management technology market and honored by the confidence that Brighton Park and our existing investors have in Impartner – and we're only just getting started," said Joe Wang, Impartner CEO. "As companies worldwide shift from resiliency to scalability, the channel has never been more important. We are confident we have the technology, team and investment partners to continue to transform how companies worldwide manage their distributors, resellers, OEM partners and other indirect sales channels."
The funding round follows several exciting announcements from Impartner. Recent groundbreaking product releases include Impartner PXTM Partner Experience, a lightning-fast, modern, consumerized interface designed from ground up to delight partners and accelerate indirect sales; Journey Builder, which helps companies choreograph the perfect partner journey; and Program Compliance Manager, which helps solve the No. 2 problem facing channel chiefs — managing program compliance.
"We're doubling down on our original investment because we've seen firsthand the results the Impartner platform has on accelerating indirect revenue for a broad array of enterprise customers," said Savant Growth Founder & Managing Partner Eric Filipek, who led the original acquisition of Treehouse, now Impartner. "Building and scaling a direct sales organization is expensive and increasingly difficult. The channel software market is hitting a major inflection point, partially driven by the pandemic, as companies look to optimize customer acquisition costs with more leveraged go-to-market models."
Impartner is the fastest-growing, most award-winning provider of channel management technologies, including its flagship Partner Relationship Management (PRM) and Through Channel Marketing Automation (TCMA) solutions, which help companies worldwide manage their partner relationships, drive demand through partners and accelerate revenue and profitability through indirect sales channels. For more information on Impartner, which is based in Utah's tech hotbed, the Silicon Slopes, visit impartner.com.
About Brighton Park Capital
Brighton Park is a Greenwich, CT-based investment firm that specializes in software, healthcare, and technology-enabled services. The firm invests in companies that provide highly innovative solutions in partnership with great management teams. Brighton Park brings purpose-built value-add capabilities that match the unique requirements of each of its companies. For more information about Brighton Park, please visit www.bpc.com.
Brighton Park Capital Contact:
Jenny Gore/Julie Rudnick
Sard Verbinnen & Co
Source : pr-newswire