Impartner, a leading partner relationship management (PRM) company, announced the closing of a $15 million round of funding from Emergence Capital, a 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. The company will also invest in sales and marketing resources to further capture market momentum for PRM.
“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.”
Impartner (formerly known as TreeHouse Interactive), completely refactored its PRM solution to be up and running in as few as 15 days and be easily adopted by main street corporations.
The base of partners signing into partner portals created with 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. Enterprises that have implemented Impartner PRM cross a broad range of verticals from technology to telecom to manufacturing, and includes Ciena, Conga, Illumina, Ingersoll Rand, Pivot3, Samsung and Splunk.
“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 other news, Impartner announced the latest release of its software, which now extends Salesforce price-quoting capabilities to partners. The channel-friendly price-quoting tool allows partners to extend co-branded, opportunity-based price quoting to end users. This streamlines the overall process by taking the weight off deal desks so partners can accurately, confidently and quickly move forward with closing deals instead of waiting for quotes.
Other updates in the summer release include new deal and pipeline management functionality designed specifically for the channel to track multiple partner touch points typical of a channel sale. The solution also offers enhanced capabilities for more accurate reporting and forecasting of deals; easier data imports and event management.
For more information about Impartner’s latest updates to its PRM solution, see the press release.