Impartner announced the closing of a $15 million round of funding from Emergence Capital, the leading venture capital firm focused on early and growth-stage enterprise cloud companies.
Impartner will use the funding on research and engineering to continue to advance its flagship Impartner PRM solution, which is already the most award-winning solution on the market, and on sales and marketing resources to further capture market momentum for PRM, which has become the first and most critical investment that companies need to make to contemporize their channel technology stack.
"At Emergence Capital, we strive to invest in market-leading companies that have a global impact," said Brian Jacobs, founder and general partner, Emergence Capital. "We believe that with Impartner's strong management team, business execution and blue chip client base, they can expand their current lead in the fast-growing PRM market."
The base of partners signing into Partner Portals created using Impartner's technology has climbed nearly 275 percent in the past year alone, reaching more than 3.8 million total partner log-ins from its global customer base. The growing list of enterprises turning to Impartner PRM for its power to increase revenue an average of 31 percent and decrease administrative costs by 23 percent (per a recent global customer survey - whitepaper here), crosses a broad range of verticals from technology to telecom to manufacturing, and includes Ciena®, Conga, Illumina, Ingersoll Rand, Pivot3, Samsung and Splunk. For Pivot3, a leading hyperconverged infrastructure company growing at nearly 80 percent a year, scale was a key driver in its search for a PRM solution. "One of the things you have to do with a channel program is operate in a one-to-many capacity, especially when you're growing this quickly," said Pivot3 Chief Marketing Officer Bruce Milne. "Impartner's PRM solution was pivotal to the rapid expansion of our channel program, which grew by 400 partners in 12 months."
"Time after time after time, we've seen the power of PRM to accelerate the indirect sales of our customers in a way that compares to what the CRM market first did for direct sales a decade ago," said Impartner CEO Joe Wang. "When you consider the business impact of what PRM is doing for indirect sales, which is generally 80 percent of corporations' revenue, compared to what CRM has done for direct sales - the market potential is transformative."
In just over the past two years since the company's acquisition, Impartner (formerly known as TreeHouse Interactive), has completely refactored its PRM solution to be up and running in as few as 15 days and be easily adopted by main street corporations and not just early tech adopters; introduced a stream of industry-first innovations to make Impartner PRM the industry's most nimble, easy-to-update platform on the market; expanded into EMEA and Latin America; nearly quadrupled its staff and moved offices twice; and won nearly 30 national and international awards for both products and executive leadership – including two back-to-back CEO of the Year awards for Wang.
Impartner was assisted in the transaction by Mark Bonham, a partner at Stoel Rives, and his team.