Zift Solutions, a provider of partner relationship management (PRM) and through-channel marketing automation (TCMA) software, announced Investcorp Technology Partners (ITP), a global technology investor, led an investment round for the company, which, including additional growth funding that ITP is injecting, results in a total value of more than $70 million.
Existing institutional investors Arrowroot, Oxx, SSM, and AshGrove Capital participated in the transaction. Investcorp has become the majority shareholder in Zift Solutions. This investment is expected to catapult Zift Solutions into its next phase of growth.
Founded in 2006, Zift Solutions’ ZiftONE software delivers a comprehensive, modern platform that aligns channel marketing, channel sales and channel operations. ZiftONE’s customers comprise national and international brands with renowned channel programs. Its customers are served from three offices: Oxford in the United Kingdom; Hoboken, N.J.; and Cary, N.C.
Zift Solutions CEO Gordon Rapkin said, “Investcorp demonstrated a strong understanding of our business and the potential of the markets we serve. They are the right partner to support our international expansion given their global expertise. We look forward to working with Investcorp to continue our growth journey and capitalize on the fast-growing channel technology sector, as well as on the value it provides in helping organizations scale their own growth.”
ITP’s investment will help accelerate Zift’s go-to-market strategy, continue expansion into international markets and further support the company’s growth. ITP is an established investor in lower mid-market technology companies with a specific focus on software, data/analytics, cyber security, and Fintech. The financing of Zift represents the second investment from ITP’s global fund, Investcorp Technology Partners V.
“Building and growing an effective channel program that engages partners is a critical, constant challenge for channel leaders,” said Andy Drummond, CFO & COO for Zift Solutions. “There is enormous potential in channel technology to meet these needs.”
While the head of ITP Gilbert Kamieniecky added, “Our investment in Zift aligns with ITP’s mission to support high-growth companies with proven products and end markets. Zift’s solutions help to solve an increasingly complex issue for marketing and sales-driven businesses, making relationship management simpler for companies across industries.”
Atlas Technology Group and Wyrick, Robbins, Yates, and Ponton served as advisors and counsel to Zift Solutions. This transaction is subject to customary regulatory requirements and is expected to close at the end of January.