PartnerStack, provider of partnerships platform designed to create new revenue channels for SaaS businesses, announced that it has closed $29 million in Series B funding.
The investment round was led by 3L with participation from Whitecap Venture Partners, Harbourvest and existing investor RRE Ventures, and caps off a fourth consecutive year of triple-digit revenue growth for the company since its founding through Y Combinator in 2015.
With this new round of funding, PartnerStack will invest in recruiting more high-value partners into its partner network, building more opportunities into its platform for SaaS companies and partners to discover each other, improving its built-in payments and automation technologies, and scaling up its go-to-market efforts alongside its own partner program to bring the power of partnerships to even more SaaS companies.
In the past year, PartnerStack’s network of more than 65,000 active partners has driven more than $120 million in revenue and over 1.6 million new customer signups for companies hosting their partner programs on the PartnerStack platform. The platform is ranked No. 1 in Partner Management Software by leading business software review site G2, which also named PartnerStack one of the top products for sales and fastest growing products in its 2021 Best Software list.