A Boost to Channel Programs: Allbound’s $43 Million Growth Equity Investment from Invictus Growth Partners
Over the last 20 years that I have worked in the software world, I have experienced a lot of success and a lot of hard lessons selling products with and through partners. I remember once sitting in an airport, waiting to board my 7th flight that month to engage partners on new products, and thinking, “There has to be a better way to do this.” When Allbound found me, I had a true ‘Eureka’ moment: an online portal could automate and accelerate collaboration for companies reselling, referring and integrating products. Joining Allbound was the best decision I have made in my career.
Over the last few years, Allbound has grown exponentially. We have established ourselves as the preferred Partner Relationship Management (PRM) platform for both channel programs and their partners. In only a few short years, we have:
• Hosted more than $100B in sales through our platform
• Grown our annual recurring revenue 300% since 2019
• Increased monthly active users to record levels of engagement
• Earned a prestigious roster of clients, including Box, GE, and Gainsight
These days other CEOs tell me that their companies are more acutely aware than ever of the uncertainty the future holds. They also tell me that their businesses need to grow efficiently. Our customers and partners all know that channel marketing and channel sales are some of the most efficient ways to grow your business and scale quickly. Forrester’s current market research estimates that the channel technology software market will reach $5.7 billion by 2026.
As the market has grown, it has also become more sophisticated. Our customers are looking for more ways to engage their resellers, referral partners, and tech-integrated partners. We decided to raise capital to meet these expanding needs.
We were blown away by Invictus Growth Partners, a leading growth equity firm, who found us through their own machine learning algorithm while looking for amazing companies. Their belief in channel sales as a place for investment and Allbound’s positioning to lead in this category led them to invest over $43M to support our growth.
Our future is more exciting than ever. Now, we can vastly accelerate our offerings and invest in the long-term success of our customers’ channel programs. If you’re passionate about the channel and are interested in joining our team, please take a look at our openings here: allbound.com/careers
- 9 Steps to Creating a SPIFF Program to Incentivize Channel Partners - January 20, 2023
- 7 Steps to Successfully Onboard Partners - December 7, 2022
- 16 Partner Program KPIs to Measure Channel Performance - September 18, 2022