Enable your
“Can a rebate management platform become the financial operating layer for B2B trading relationships between manufacturers, distributors, and retailers?”
Founded2016
HQSan Francisco, CA, USA
FoundersAndrew Butt, Denys Shortt
Total raised$314M
Latest roundSeries D, 2023
Valuation$1.2B post-money (2023)
IndustryVertical SaaS / B2B Rebate Management
The story
Founded in the UK in 2015/2016, Enable built a cloud-based platform to automate and manage complex B2B rebate programs for manufacturers, distributors, and retailers — a previously opaque and manual process. The company relocated to San Francisco in 2020 and scaled aggressively through a Series D in 2023, reaching unicorn status. Its embedded finance footprint centers on corporate card and spend management tooling for its platform users (evidenced by CapitalOS), layered on top of its core rebate-data-as-a-financial-intelligence product.
Last 12 months
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Product timeline
2016
Enable launched fully as a cloud-based B2B rebate management platform, initially targeting UK distributors and manufacturers.· pivot
2020
Raised $13M Series A and relocated headquarters from the UK to San Francisco.· pivot
2021
Raised $45M Series B led by Norwest Venture Partners to scale rebate management automation.· banking
2022
Raised $94M Series C led by Insight Partners, expanding into European markets.· pivot
2023
Raised $120M Series D led by Lightspeed Venture Partners, achieving $1.2B unicorn valuation.· pivot
The stack
Card issuing
Accounting gap: none