Nov 7 (Reuters) - Enable, a startup that sells rebate software to trading partners, has raised $120 million in a latest funding round that valued it at $1 billion, the company said on Tuesday.
Its previous capital raise over a year ago had put Enable's value at over $800 million.
The fresh private funding in a slowing market for growth stage financing comes as the software firm more than doubled its revenue, according to the company.
Founded in the UK in 2016 before relocating its headquarters to San Francisco in 2020, Enable offers cloud-based software to manufacturers, distributors and retailers to manage the rebate program in their supply chain.
"Given the gap in the market, they're able to persist and grow despite a lot of the macro (economic conditions).
Persons:
We've, Andrew Butt, They're, Arsham Memarzadeh, Krystal Hu, Bill Berkrot
Organizations:
Lightspeed Venture Partner, Schneider, Lightspeed, Thomson
Locations:
San Francisco, U.S, Canada, Europe, Australia, The U.S