Impact, a partnership automation solution provider, announced a $75 million investment led by Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners. The new funding will accelerate platform development, further go-to-market and regional expansion, and fuel both organic and inorganic growth.
Impact accelerates enterprise growth by scaling discovery, recruitment, onboarding, engagement and optimization of all types of partnerships, the company said. Impact’s Partnership Cloud provides automation for the full partnership lifecycle; confident decision making and optimization through measurement and attribution; and protection from fraud.
Impact’s most mature clients leverage the company’s Partnership Cloud technology to transform their organizations and channel initiatives to expand across all types of partnerships, including influencers.
“There’s been an explosion of innovation around new types of partnerships being forged to grow enterprise revenue,” said David A. Yovanno, CEO, Impact. “Enterprises are demanding software automation to help them scale in this new category of revenue, similar to the automation they’ve used in other categories such as sales and marketing. With support from PSG, a premier global investor, Impact will be able to further evolve its integrated platform to empower businesses to effectively and efficiently grow their revenue in this new era of the partnership economy.”
In a conversation with CMR, Scott Brazina, Impact’s CMO, explained that companies are expanding their partner portfolios to include affiliates, influencers, and other brand-to-brand relationships. With Impact technology, clients can implement partner-specific programs at scale globally on a platform that all parties have visibility into so they can execute efforts and measure results. The platform then supports partner compensation in local currencies. “It’s a vast platform that enables an efficient workflow that allows companies to scale and do these programs globally,” said Brazina.
Existing investor Silversmith Capital Partners also participated in this investment. “This announcement follows a landmark year for Impact, in which they completed the acquisition of Mediarails, the leading CRM for influencer discovery, recruitment and optimization; continued their global expansion by opening local offices in Singapore and the Nordics; and expanded their leadership team,” said Jim Quagliaroli, Managing Partner. “We’re excited to add to our existing investment and to have PSG join us in this next stage of Impact’s growth.”
Tagged influencer marketing