Growth Spurred by Customer Results as PRM Software Becomes Critical to MarTech Stack
Allbound, the leading next generation Partner Relationship Management (PRM) platform, announced it has received a significant investment in Series A funding led by Canal Partners with other investors including KLH Venture Partners, Tallwave Capital, Arizona Founders Fund, and Stout Street Capital. In total, $3.61M has been raised to advance product development within the Series A round, resulting in a total of $7.4M total raised since company inception.
With new funding, comes new product enhancements. Due to an 838% growth in customer base in the past two years and a need for innovation in the channel, Allbound has made it a goal to make major improvements in the product in the upcoming 2019 year. Allbound has partnered with and is in the process of developing an integration with Sisense, an analytics platform, to offer powerful Business Insights. Also, in the 2019 product development roadmap is a new key integration with Marketing Automation tools such as Marketo and Hubspot. As an Allbound user, you will be able to dig much deeper into your complex data, understand which actions drive the most revenue, and deliver extremely personalized to-partner marketing messaging based on interactions that occur between partners and vendors.
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Allbound’s goal has always been to create an easy-to-use, configurable solution that places a focus on partner engagement. Allbound works as a layer in your technology stack by integrating with the tools that you already know and love, such as your CRM. As a company, Allbound will continue to develop the product in accordance with these guiding principles. Growth within Allbound will continue to be guided by innovation and optimization. The partner experience is the top concern for Allbound; together we will find solutions for the commonly occurring barriers vendors have when utilizing channel partners to drive revenue. Allbound will continue to be the leader for mid-market, B2B companies looking to grow through channel partners.
In addition to new business growth, Allbound also announced that Wain Kellum will be joining the board of directors as Executive Chairman.
“I am thrilled to join the Allbound board,” said Wain Kellum. “Having led seven fast-growth technology companies on a variety of industries, one of the aspects that each company shared was the potential to sell far more through channel relationships than could be sold directly. The legacy homegrown systems were simple portals, with little functionality and the packaged solutions are too cumbersome and complex.
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“Allbound is an elegant solution, allowing easy collaboration and joint selling with an organization’s selling partners. The ease of use afforded by Allbound allows for quick adoption among partners, leading to more visibility into pipeline, more joint selling which increases win rates and accelerated new business.”
Jim Armstrong will also join Allbound’s Board of Directors. Jim Armstrong is the Founder and CEO of JDA Software (NASDAQ). “Allbound has been a fantastic company to watch grow and I am excited to take apart of next stage of scale. In today’s software ecosystem it is necessary to leverage partners to rapidly grow market share. More importantly, it is crucial for technology and manufacturing companies to keep control of their brand and understand how their partners are selling their products. Allbound is a perfect tool to leverage partners,” said Jim Armstrong.
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