B2B rebate management startup Enable raises $120M

Enable, a B2B rebate management startup, raised $120 million in new funding at a $1 billion valuation.

Why it matters: New tools for managing rebate programs help manufacturers and supply-chain businesses increase revenues and profitability.

Details: The Series D financing was led by Lightspeed Venture Partners and included participation from Menlo Ventures, Norwest Venture Partners, Insight Partners and Sierra Ventures.

How it works: Enable provides a platform used by manufacturers, distributors and retailers to track and manage the rebates they offer to B2B customers.

• Its platform helps finance and commercial teams to offer rebates in a way that optimizes sales while increasing revenue and profitability.
• Its tools enable businesses to create, negotiate and execute deals with trading partners, while also offering automated workflows, approval processes and audit trails for tracking and compliance.

Flashback: Last December, Enable acquired Profectus Group's rebate deal management platform, which served the Australia and New Zealand markets.

Of note: Enable has raised $276 million since being founded in 2019, its most recent round being $94 million in October 2022.

• The company has more than 550 employees across five offices globally.