Enable Valuation, Funding & Investors

Enable is valued at $1.1B as of November 2023.

Last Enable valuation

$1.1B

Series D · Nov 2023

Last Enable funding round

$120M

Series D · Nov 2023

Cumulative funding Enable raised

$276M

across 4 funding rounds

Key investors in Enable

  • Menlo Ventures
  • Norwest
  • Sierra Ventures
  • Alumni Ventures
  • Lightspeed Venture Partners
  • Insight Partners

Enable Overview

About Enable

Enable is a SaaS platform for rebate management helping distributors, manufacturers, and retailers calculate, plan, and accrue B2B deals. The software automates incentive programs to drive profitable growth through collaborative trading partner portals. Founded in 2016 and headquartered in San Francisco, California, Enable integrates with ERP systems for precise rebate tracking across retail supply chains.


Founded

2016

HQ

United StatesSan Francisco, CA

Website

enable.com

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$1.1B (Nov 2023)

Enable Valuation

Enable is currently valued at $1.1B, based on its Series D in November 2023. Read the announcement ↗

The $120M round was led by Lightspeed Venture Partners, with participation from Menlo Ventures, Norwest, Sierra Ventures, Insight Partners and Olive Technology Ventures.

Enable valuation by funding round

Enable valuation by funding round
DateStageValuation
Nov 2023Series D$1.1B

Enable Funding History

Enable has raised a total of $276M across 4 funding rounds.

Enable's first fundraising round was a $17M Series A in March 2020. The most recent completed round was a $120M Series D in November 2023.

Enable funding rounds

Enable funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2023Series DLightspeed Venture Partners (lead); Menlo Ventures; Norwest; Sierra Ventures; Insight Partners; Olive Technology Ventures$120M$1.1BEnable is a rebate management platform that serves the B2B space, providing a centralized system of record for managing rebate agreements across trading partnerships. The company's product helps customers manage supply chain relationships more strategically, with the company reporting that customers achieve an average 4x return on investment, save more than 40 hours per month, and can immediately recover $300,000 or more in value. Founded with roots in property management software, Enable was launched in the U.S. in 2019 and had achieved triple-digit annual growth every year prior to the Series D funding round. In November 2023, Enable announced a $120 million Series D funding round led by Lightspeed Venture Partners, with participation from prior lead investors Menlo Ventures, Norwest Venture Partners, Insight Partners, and Sierra Ventures. The round valued the company at $1.12 billion post-money and brought total capital raised since 2020 to $276 million. At the time of the announcement, Enable had five global locations and over 550 employees, with thousands of companies using its platform worldwide. The company was on track to more than double its revenue by the end of 2023 and indicated plans to grow its headcount to approximately 600 by year-end, with proceeds directed toward accelerating product development, enhancing collaborative features, and supporting global expansion.
Oct 2022Series CInsight Partners (lead); Menlo Ventures; Titanium Ventures; Norwest; Lightspeed Venture Partners; SE Ventures; PSP Growth; HarbourVest Partners$94M-Enable, the rebate management platform formerly known as DealTrack, raised a $94 million Series C in October 2022, led by Insight Partners. Lightspeed Venture Partners, HarbourVest Partners, SE Ventures and PSP Growth joined the round, and existing investors Norwest Venture Partners, Menlo Ventures and Telstra Ventures also participated. Insight Partners' Philine Huizing joined Enable's board. With the round, Enable's total funding reached about $156 million since 2020. The proceeds were intended to add headcount and expand into new markets, particularly Europe. Enable provides software that helps manufacturers and their trading partners manage volume rebates, incentives and other B2B deal programs, with the aim of improving collaboration and financial transparency. The company was founded in the United Kingdom and is now based in the United States.
Aug 2021Series BNorwest (lead); Menlo Ventures; Titanium Ventures; Sierra Ventures; Alumni Ventures; Rising Tide$45M-Enable has raised $273.73 million across 6 funding rounds as of November 2023. The company's most recent disclosed funding round was a Series D for $120 million on November 7, 2023.
Mar 2020Series AMenlo Ventures (lead); Incisive Ventures; Sierra Ventures; Alumni Ventures; Gaingels$17M--

Who has invested in Enable?

14 investors have backed Enable across its funding rounds, including Menlo Ventures, Norwest, Sierra Ventures, Alumni Ventures, Lightspeed Venture Partners and Insight Partners.

Lead investors include Lightspeed Venture Partners, Insight Partners, Norwest and Menlo Ventures.


Enable Investors

Investors in Enable by funding rounds participated
InvestorHQRoundsRoleFirst check
Menlo VenturesUnited StatesMenlo Park, CA4LeadMar 2020
NorwestUnited StatesMenlo Park, CA3LeadAug 2021
Sierra VenturesUnited StatesSan Francisco, CA3ParticipantMar 2020
Titanium VenturesUnited StatesSan Francisco, CA2ParticipantAug 2021
Alumni VenturesUnited StatesManchester2ParticipantMar 2020
Lightspeed Venture PartnersUnited StatesSan Francisco, CA2LeadOct 2022
Insight PartnersUnited StatesNew York City, NY2LeadOct 2022
Incisive VenturesUnited StatesSeattle, WA1ParticipantMar 2020
Rising Tide--1ParticipantAug 2021
GaingelsUnited StatesBurlington, VT1ParticipantMar 2020
SE VenturesUnited StatesSan Francisco, CA1ParticipantOct 2022
Olive Technology VenturesUnited StatesEast Palo Alto, CA1ParticipantNov 2023

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Acquisitions by Enable

Enable has acquired 2 companies to date.

Last acquisition by Enable was on January 15th 2025. Enable acquired Flintfox International for undisclosed valuation.


Latest Acquisitions by Enable

Flintfox International
Profectus-Rebate Deal Management
Description
Flintfox International is an Auckland-headquartered provider of cloud ERP software for consumer goods industries. Founded in 2001, it offers integrated solutions for order management, financial consolidation, and supply chain execution serving clients like Coca-Cola Amatil and Lion Nathan. The platform processes multi-currency transactions and warehouse operations across 50 countries. Flintfox employs over 250 staff in offices spanning New Zealand, the US, UK, and Australia.
Profectus-Rebate Deal Management is a technology platform automating rebate processing and deal management for enterprises. London-headquartered, it connects with ERP systems such as SAP, Oracle, and Microsoft Dynamics to handle accruals, claims, and settlements. The software serves consumer goods firms in Europe, reducing manual errors in supplier and channel partner programs.
HQ CountryNew ZealandUnited Kingdom
HQ City
Auckland
London
Deal Date15 Jan 202530 Nov 2022
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Enable Competitors

Enable competitors include listed companies like Arab Sea and 74Software, and private ones like Xforceplus, JD Digits, Spendesk and Juniper Square.

Public and private companies comparable to Enable
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
XforceplusChinaShanghaiPrivate--$1B-
Arab SeaSaudi ArabiaSaudi ArabiaPublicly listed$14M($608K)$97M-
JD DigitsChinaBeijingPrivate--$28B-
SpendeskFranceParisPrivate--$1.1B-
Juniper SquareUnited StatesSan Francisco, CAPrivate$108M-$1.1B10.2x
74SoftwareFranceFrancePublicly listed$790M$109M$1.2B1.7x

Enable Public Comps

Enable is still privately-owned, but its public comps include 74Software, Fujian Boss Software, Freee, Miroku Jyoho Service, Nordtech Group, Teamshares, Baiwang Cloud, BlackLine, Avant Group and MCAP.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
74Software$790M$109M1.8x1.7x13.1x9.1x
Fujian Boss Software$301M$40M2.5x2.6x19.1x19.2x
Freee$269M$15M5.9x5.5x105.5x66.2x
Miroku Jyoho Service$310M$57M1.2x1.1x6.5x-
Nordtech Group$72M$15M4.8x-23.6x-
Teamshares$472M($23M)1.2x0.9x(25.6x)15.5x
Baiwang Cloud$109M$436K2.2x2.3x561.0x-
BlackLine$700M$72M3.1x2.8x29.9x9.8x

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Common questions about Enable

When was Enable founded?Enable was founded in 2016.
Where is Enable headquartered?Enable is headquartered in San Francisco, CA, United States.
Is Enable publicly listed?No, Enable is a private, VC-backed company.
What is Enable's valuation?Enable was last valued at $1.1B in its Series D in November 2023.
How much funding has Enable raised?Enable has raised $276M across 4 funding rounds.
What was Enable's last funding round?Enable's last funding round was a $120M Series D in November 2023, led by Lightspeed Venture Partners.
Who are Enable's investors?Enable's investors include Menlo Ventures, Norwest, Sierra Ventures, Titanium Ventures, Alumni Ventures, Lightspeed Venture Partners, Insight Partners, Incisive Ventures, Rising Tide, Gaingels and 4 others.
Which companies are comparable to Enable?Companies comparable to Enable include Xforceplus, Arab Sea, JD Digits, Spendesk, Juniper Square and 74Software.
How many companies has Enable acquired?Enable has acquired 2 companies, including Flintfox International and Profectus-Rebate Deal Management.

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