Enable, the cloud-based software solution for B2B rebate management, today announced it had closed its FY22 fiscal year and exceeded all key metrics.
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“As a pioneer in a new category of software, we had high hopes for the company and they have surpassed all of our expectations”
The company rounded out the year by increasing its portfolio of customers by 156%, transcending its revenue goal and surpassing its growth target. Enable’s impressive 32% growth in Q4 alone puts the company on a trajectory to triple its revenue next year.
Additional milestones achieved last year included a significant team expansion from 112 to over 200 employees globally, the opening of a third, world-class facility in Toronto, Ontario and raising a $45 million Series B funding round, all reinforcing Enable’s vision for growth and global expansion.
“I am so proud of our team’s performance and accomplishments during what has been a challenging year for so many companies globally,” says Andrew Butt, Co-founder & CEO of Enable. “The positive impact we’re having on our customers and the industries they serve is a testament to our mission of ‘enabling trusted trading relationships to serve customers better together’ – which in turn is helping us attract the very best candidates to join our team along with top notch investors. It’s been two years since we raised our Series A, and thanks to our team, customers, and investors we’ve exceeded our targets every single quarter.”
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Enable’s growth milestones further establish the company’s leading position in the B2B rebate management space. As trading programs are becoming more complex and antiquated methods have proven to be insufficient, manufacturers and distributors are looking for a modern and mutually beneficial way to manage their trading relationships. Enable has become the go-to solution and the company is scaling at a rapid pace to keep up with market demand.
“We were thrilled to partner with Enable and lead the $45 million Series B round,” says Sean Jacobsohn, Partner at Norwest Venture Partners and Board Member of Enable. “As a pioneer in a new category of software, we had high hopes for the company and they have surpassed all of our expectations”.