The indirect channel-focused sales incentive startup 360incentives.com has snagged a $7.65 million first round of venture capital funding, which it says it will use to support technology R&D for better channel engagement and incentives management technologies.
OMERS Ventures, the venture capital arm of Canada’s largest public sector pension fund, led the round for the company, which helps businesses set up and manage sales incentives programs for reseller and channel partners, create rebate programs for consumers as well as loyalty rewards and field methods of payments. It was joined in the deal by Klass Capital and Round 13 Capital.
“From inception our vision has been to change the face of the promotions and incentives space,” said Jason Atkins, founder and CEO at 360incentives.com. “In today’s competitive landscape, manufacturers need to move faster than their competitors, and we allow them to engage and systematically improve their channel promotions. It is not just about incentives; it is about engagement – the tools and education they need to provide their channel with has never been more important than right now.”
360incentives.com’s stated goal is to modernize the channel incentive space by providing an automated platform for clients that allows them to manage their channel promotion, incentive and rebate programs efficiently and holistically. Customers can track in real-time where promotion dollars are being spent to measure their return-on-marketing.
“From the manufacturer through their dealers and VARS, all the way to their end consumers, there needs to be seamless communication and visibility,” Atkins added. “360 is committed to developing the newest technologies that will not only increase visibility, flexibility and accuracy of promotions, but also provide the tools to engage and convert everyone in their channel to advocates of their products.”
360incentives.com has a stable of more than 75 global clients so far.
“We are an extension of our clients; our goal is to provide their customers with an unbelievable brand experience,” said Todd Skinner, vice president of Client Happiness at 360incentives.com. “Our team is extremely proud of the culture of we have built to deliver happiness through the entire channel. We equip all of our Client Happiness Managers with iPhones, and it is not uncommon for me to receive e-mails from happy customers letting me know that at 10 p.m. one of our team members helped them, which further solidified their purchasing decision making them a customer for life. We live for delivering those moments.”