This strategic growth investment has brought Impact’s valuation to $1.5 billion, making it the first partnership management platform provider to reach this milestone. Impact has also surpassed $100 million in annual recurring revenue, solidifying its leadership position in the partnerships category and taking it closer in its plan for an IPO (initial public offering).
Impact’s latest round of funding will enable the company to accelerate its investment in partnership automation innovation, increase channel partnerships, and scale its go to market efforts for brands, agencies, and publishers globally. In turn, this will accelerate growth for all participants in the Partnership Economy. Existing investors in Impact include PSG and Silversmith Capital Partners.
A change in consumers’ behaviour
Consumers are living in a digital world and have greater control than ever over how they interact with brands. Furthermore, wariness with traditional forms of advertising has continued to grow, with 69% of consumers reporting that they do not trust advertising. This shift has led brands to turn to partnerships to reach consumers in a more meaningful way.
David A. Yovanno, Impact’s CEO said: “Brands are searching for new and authentic ways to reach consumers, more so now than ever before, as traditionally relied-upon methods of advertising have become increasingly more disrupted and expensive.
“Partnerships create a path to the modern consumer by establishing a natural connection in the form of trusted information, reviews, and recommendations, and done with the consumer’s experience in mind. Impact has seen impressive growth in productive partnerships by driving this new wave of connection between brands, publishers, and consumers.”
This announcement comes on the heels of Impact’s acquisitions of Affluent, Trackonomics, and Activate in the past 12 months, demonstrating its’ commitment to the transformation of the overall partnerships ecosystem.
This really is exciting news, for Impact but also the industry as a whole. The amount of trust and investment being put in the channel is proof of the incredibly bright future we have ahead of us.