Relayware gets $11m in funding for PRM expansion efforts

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Extra VC funding shows partner relationship management is big business

Relayware has received $11 million in funding from Amadeus Capital Partners and existing investor Albion Ventures.

Relayware is a provider of SaaS-based partner relationship management (PRM) software and services that produce insights to bring organisations closer to their partners. Its software automates the partnering process and is designed to provide the visibility needed to gain an understanding of partner effectiveness and optimise channel sales performance.

US USA FlagIn 2013, Relayware secured $5.5 million from UK-based Albion Ventures to amplify its sales and marketing, expand operations and hire key executives to drive growth and scale the business.

The new investment will be used to help drive growth in the US.

Relayware has operations in Oxford, New Jersey and California. The company targets technology and manufacturing companies, including high-growth start-ups and enterprises, as its main source of growth.

Richard Anton, partner, Amadeus Capital, said: “The company will continue to grow its existing customer base and scale into complementary areas that support channel marketing, sales and operations. Amadeus’ investment will enable Relayware to realise that potential.”

Relayware’s continued expansion stems from our unwavering focus on enabling businesses to empower their channel partner networks,” said Relayware CEO Bob Mann. “This newest round of investment will support growth initiatives in the US and better equip us to serve the changing needs of the channel, as the industry enters its next phase of growth.”

@AntonySavvas