SaaS platform and leader in partner marketing, Impact, has today (March 12) announced it has received £56 million in investment funding. The funds will go towards platform development, including updates to its Partnership Category Plan, enabling global partners to further manage their programmes and affiliates in one place.
The funding, led by Providence Strategic Growth and existing investor Silversmith Capital Partners, will also accelerate and further go-to-market, regional expansion and fuel both organic and inorganic growth for the business
Partnerships have become a significant source of incremental growth and new revenue streams for many businesses in the last 12 months and the latest investment only reflects the growing direction the platform is taking.
“There’s been an explosion of innovation around new types of partnerships being forged to grow enterprise revenue,” said Impact CEO David A. Yovanno; “Impact enables a marketplace of hospitality services to establish partnerships with airlines. A fashion-forward sportswear brand to partner with YouTube influencers. A major direct-to-consumer mattress brand to establish partnerships with chiropractors. Barkbox, another fast-growing direct-to-consumer business, to establish partnerships with animal shelters, veterinary clinics, dog walkers and pet hotels for their pet care subscription boxes. The types of emerging partnerships supported by Impact’s Partnership Cloud are virtually limitless.”
A recent example of the growth of partnerships includes Ticketmaster, which uses the Impact platform to transform its business and partnership initiatives to expand across all types. It is able to accurately track, report on sales and pay these partners simply and securely. This flexibility is critical to the business’ success.
“Impact’s platform allows us to create and scale direct partnerships to drive new revenue more efficiently than in the past,” said Dan Armstrong, Ticketmaster, SVP & GM, Distributed Commerce; “We’ve enabled discovery and purchase of the largest ticket inventory in the world through unique partnerships with social media platforms, music streaming services and major publishers on a global scale. Impact helps us understand the value we create through these partners, allowing us to focus more of our time on innovation.”
The funding news follows recent headlines of Impact’s growth and expansions in the EMEA and APAC markets and this is the next phase of growth as the business continues to extend its global footprint and solidify its position as a leader in partnership automation.