Reveal, a provider of a platform for partnership, marketing, and sales teams to generate revenue through their ecosystem, has announced a Series A funding of $50 million. The company, which was founded in 2020 as Sharework, allows companies to connect with businesses in their ecosystem to securely compare CRM data. The insights that can be provided by an ecosystem can boost win rates by 3X, Reveal states.
Announcing the investment in a blog post, Reveal CEO Simon Bouchez said more than 4,500 companies use Reveal to “identify and leverage business opportunities with their partners, making partnerships one of their most powerful and cost-effective revenue channels.”
The funding was provided by global venture capital investors Insight Partner, Eight Roads, Chalfen Ventures, Dig Ventures and existing investors Localglobe, Ventech and Kernal.
The funding is tangible recognition of the “emerging category of Collaborative Growth,” wrote Bouchez, that “will also propel Reveal onto the next chapter of our mission to empower B2B companies to drive revenue from their ecosystem.”
Jay McBain, Chief Analyst – Channels, Partnerships & Ecosystems, at Canalys, an independent analyst company, agreed that the funding represents the increasing importance of ecosystem programs. “Over $3.8 billion of private equity flowed into the channel ecosystem software landscape last year,” he said in a note to CMR. “Much of that is in the five fast growing ecosystem categories as investors recognize early opportunities such as Reveal. It’s a strong sign that the decade of the ecosystem is accelerating!”