Series D+7 November 2023

Enable secures £98m in series D funding led by Lightspeed Venture Partners to scale its rebate platform.

The series D round values the business at $1.1bn and featured backing from Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures.

£98.0MSeries D+

Enable provides a cloud software platform that helps manufacturers, distributors and retailers manage complex rebate programmes. The business operates globally with several hundred employees across multiple offices.

Rebate management software provider Enable has secured £98m in a series D funding round led by Lightspeed Venture Partners. The financing drew participation from existing backers including Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures, bringing the company valuation to $1.1bn.

The fresh capital will be deployed to accelerate product development and expand the team to support continued international growth. The raise follows a period of rapid expansion for the firm, which has seen strong annual revenue increases and established a global footprint since launching operations in the United States.

From the founder

"By helping the market to understand how to strategically use rebates for growth, and by demonstrating the financial outcomes our customers are achieving, we’re bringing to light what effective rebate management can deliver. Our customers average a 4x return on investment, save more than 40 hours a month, and can immediately return $300,000 or more. With this round of funding, we will drive even more financial outcomes for companies that are feeling the crunch of the supply chain and wanting to invest in their growth and partnerships."

Andrew Butt

Co-founder and CEO at Enable

Investor perspective

"Rebate programs are becoming ever more complex. They now represent the majority of profit for distributors and retailers, and they are major growth drivers for manufacturers. These outcomes combine with growing recognition that rebates drive behavior far more effectively than traditional pricing and discount mechanisms. It’s no longer optional to adopt a rebate management platform, and Enable is defining the future of the category,"

Arsham Memarzadeh

Partner, Lightspeed Venture Partners