BOSTON, Oct. 19, 2022 /PRNewswire/ — Relevize, the category leader in channel activation, announced today that it has raised a $6 million seed round led by global software investor Insight Partners, with participation from existing investors Hyperplane, Newfund, 1984.vc, and Weekend Fund. The latest round of funding will further accelerate product development as the company looks to enhance the platform's engagement and reporting capabilities. Relevize is currently hiring for roles in marketing, product, and engineering as it looks to expand the team.
Relevize is the only platform that accelerates channel partner sales by giving software providers and their partners the ability to generate pipeline through digital acquisition channels. Started in 2020, Relevize automates the distribution of lead generation programs across digital platforms, including LinkedIn and Facebook, for channel partner programs. During the pandemic, channel marketing teams lost their most effective tactic to generate pipeline: in-person events. Leading software providers are also putting an increased emphasis on growing their channel sales as they look to shift revenue from direct to indirect. Consequently, channel marketing teams are left searching for new tactics to hit larger revenue goals. With Relevize, customers are able to pivot to partner-led digital distribution channels to efficiently generate pipeline.
"The Relevize platform is producing some of the highest quality leads of any program we have in place to support partner pipeline acceleration," said Cindi Johnson, Senior Director, Global Partner Marketing at New Relic. "We see this platform as high potential and will continue using it as one of several key tactics to make a significant impact on our partners' business success."
Through the platform, software providers and their partners engage, track, and attribute leads to increase the return on investment from co-op and MDF funds. In the last year, Relevize customers, which include New Relic, Chili Piper, and WatchGuard Technologies, Inc, have realized a 20x multiple on ad spend to pipeline generated and an increase of 550% in pipeline generated through the platform in the last year.
"Channel-led GTM and digital-first marketing strategies are becoming need-to-have for enterprise companies to hit revenue targets. With this tactical shift, the transition of channel partners from strictly implementation partners to revenue generators is becoming critical, and we see Relevize as a catalyst for this transition," said Julian Marcu of Insight Partners. "Relevize is pioneering a new category in the channel-led GTM tech stack, and is generating significant ROI for its customers and their partners via time-savings, visibility, and net-new lead generation." As part of this round, Julian Marcu of Insight Partners will be joining the Relevize Board of Directors.
"Channel marketing teams lack the tools to excel in their roles, and Relevize looks forward to continuing to bring world-class technology to help them achieve their revenue goals. We could not be more excited to work with Insight Partners on the next phase of Relevize's growth," said Michael Nardella, CEO & Co-founder of Relevize. "Insight Partners has been a catalyst for numerous pioneers in the sales and marketing software space, and we look forward to partnering with them as we continue to grow."
Relevize is the only partner activation platform built for sellers and partners to maximize their channel sales revenue. Most solutions focus on direct sales but now that companies are putting a stronger emphasis on scaling through their partner networks, they need better support. By automating partner campaigns, Relevize enables channel sales teams to efficiently scale and increase visibility into their partner generated pipeline.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight's mission is to find, fund, and work successfully with visionary executives, providing them with right-sized, right-time practical, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.