SaltWire's Atlantic regional weather forecast for November 7, 2023 | SaltWire - Enable, a startup that sells rebate software to trading partners, has raised $120 million in a latest funding round that valued it at $1 billion, the company said on Tuesday.
The fresh private funding in a slowing market for growth stage financing comes as the software firm more than doubled its revenue, according to the company. Business-to-business companies offer rebates when their customers meet some benchmark in spending to offer purchase incentives and build loyalty. Some sellers in physical goods still manually track the progress in spreadsheets.
The company said it plans to invest in research and development to apply artificial intelligence in its products, from generating contracts to extracting pricing insights from data to help customers drive more sales.