ATLANTA & SAN FRANCISCO--(BUSINESS WIRE)--Allbound Inc. (“Allbound”), the leading partner relationship management (PRM) platform, today announced that it has raised $43 million in a majority investment from Invictus Growth Partners (“Invictus”). The capital will be used to accelerate investments in sales, marketing, and for further enhancements to its innovative PRM platform.
The Allbound PRM platform allows companies to accelerate sales and marketing in reseller, referral, and tech-integrated partnerships. Customers have seen tremendous results with Allbound, having sold more than $100 billion through their platform and shortened sales cycles by over 60%. According to Forrester, the estimated market size for channel software like Allbound’s will grow at a 15% CAGR from $3.2 billion in 2022 to $5.7 billion by 2026, driven by increasing numbers of global partnerships and the proliferation of hybrid work environments. Allbound is outgrowing the overall market, with over 300% growth in annual recurring revenues since 2019.
“Today, sales and channel partner relationships enable companies to grow revenue faster and more efficiently than marketing alone. Allbound has become a preferred PRM platform as more companies choose to enhance and strengthen partner relationships to accelerate their indirect business models,” said Daniel Graff-Radford, CEO of Allbound. “We are deeply grateful for the support of the Invictus team as they share our vision to help companies achieve increasing success in channel sales, and they bring machine learning expertise and other resources to help accelerate our growth.”
Many of the world’s largest and fastest growing companies such as Box, Gainsight, and GE use Allbound to scale and automate their partner programs.
“Channel sales often represent an enterprise’s largest revenue driver, and analysts estimate that more than 70% of commerce takes place through channel sales with most of that still tracked on spreadsheets,” said John DeLoche, Co-Founder & Managing Partner at Invictus. “Allbound’s platform is a must-have for enterprises looking to grow, track, and gain insights from their channel sales programs. We are honored to partner with Daniel and the entire Allbound team.”
“Now more than ever, it is mission critical to gain operating leverage and actionable insights from your indirect sales motion,” said William Nettles, Co-Founder & Managing Partner at Invictus. “Since inception, Allbound has helped define the PRM category through its thought leadership and world class technology. We look forward to working with Daniel and the Allbound team to both continue growth and expand their mission in the future.”
Allbound's next-generation partner portal platform simplifies and accelerates a business's ability to onboard, train, measure, and grow indirect sales partners. This innovative software encourages collaboration among channel vendors and their partners to improve the performance of their indirect sales channels by automating the delivery of marketing content, sales tools, and training at each stage of the pipeline. For more information, visit www.allbound.com.
About Invictus Growth Partners
Invictus Growth Partners is a growth equity and buyout firm which invests in outstanding bootstrapped and capital efficient, automation-enabled cloud software, cybersecurity and fintech companies which seek capital and strategic resources to accelerate their growth. The firm and all their professionals are based in San Francisco.