Enable, a startup based in Stratford upon Avon which is developing cloud-based software for business-to-business rebate management, has secured $45 million in a Series B funding round led by Norwest Venture Partners.
The company was born out of the DCS Group, the largest distributor of health, beauty and household products in the UK which is now based in Banbury.
DCS wanted a smart, efficient way to manage its many complex trading agreements with suppliers and customers. But it couldn’t find a single solution that met all its needs so it formed its own software team, and spun it off into a new limited company, Enable to design and build a B2B deal management solution that met its needs.
The software created by its developers created received such good feedback from DCS suppliers and customers that the company decided to expand.
It launched its rebate management product and moved its headquarters to San Francisco in 2016 and has since been growing its client base and product portfolio.
Andrew Butt, Co-founder & CEO of Enable, said: ““We’re pioneering a software category to help our customers succeed with rebate management in a way that enables them to better serve their customers while also accelerating profitable growth. It’s been incredible to see our customers embrace the technology and gain immediate benefits. We are disrupting an outdated industry with our modern cloud approach, and we are only just beginning.”
Over the past year the company says it has significantly expanded its original roots in the UK, built a strong presence across USA and Canada, and jump started its customer base in Australia and South Africa. Recently, Enable was named on Inc. 5000’s list of fastest growing private companies in the United States for 2021.