Phoenix, Arizona-based Partner Relationship Management (PRM) platform company Allbound announced that it has raised $3.61 million in Series A funding led by Canal Partners. KLH Venture Partners, Tallwave Capital, Arizona Founders Fund, and Stout Street Capital also participated in this round. With this round of funding, it brings Allbound’s total funding to $7.4 million since the company was founded.
In the past two years, Allbound saw 838% growth in its customer base. And Allbound has made it a goal to make major improvements in its product next year. For example, Allbound is in the process of developing integrations with the Sisense analytics platform to develop advanced business insights.
Allbound is also planning key integrations with Marketing Automation tools like Marketo and Hubspot next year. So Allbound users will be able to dig deeper into complex data and understand which actions are driving the most revenue. Plus users will be able to deliver personalized to-partner marketing messaging based on interactions that occur between vendors and partners.
Essentially, Allbound acts as a layer in your technology stack by integrating with the CRM tools that you are used to. And Allbound is going to continue to be the leader for mid-market and B2B companies looking to grow through channel partners.
Allbound also recently announced that Wain Kellum — who previously led seven fast-growth technology companies — is joining the company’s board of directors as Executive Chairman. Kellum previously led seven fast-growth technology companies.
“Allbound is an elegant solution, allowing easy collaboration and joint selling with an organization’s selling partners. The ease of use afforded by Allbound allows for quick adoption among partners, leading to more visibility into pipeline, more joint selling which increases win rates and accelerated new business,” said Kellum in a statement.
And JDA Software founder and former CEO Jim Armstrong is joining the board as well. Armstrong is now a managing partner at Canal Partners.
“Allbound has been a fantastic company to watch grow and I am excited to take apart of next stage of scale. In today’s software ecosystem it is necessary to leverage partners to rapidly grow market share. More importantly, it is crucial for technology and manufacturing companies to keep control of their brand and understand how their partners are selling their products. Allbound is a perfect tool to leverage partners,” added Armstrong.
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