Tackle.io, a software company dedicated to helping software providers generate revenue through the clouds, announced a $100 million Series C funding round. The round brings the company’s valuation to $1.25 billion and was co-led by Coatue and existing investor Andreessen Horowitz and included participation from Bessemer Venture Partners.
The funding, which comes nine months after a $35M Series B, brings Tackle’s total funding to $148M. The round will help Tackle fast-track the execution of its product roadmap and expand its global reach while furthering its mission to help software companies sell through the Cloud Marketplaces offered by AWS, Azure, GCP, and IBM / Red Hat.
“This has been a tremendous year for Tackle, as we’ve tripled the size of our team and more than doubled our customer count,” said John Jahnke, CEO of Tackle. “Our customers today are primarily hypergrowth startups and we are excited to leverage this investment to broaden our platform in support of startups looking to build a Marketplace-native go-to-market as well as enterprises that are retrofitting their product portfolios to align to the cloud buyer. Tackle’s mission is to provide a global enterprise grade platform focused on bringing a Marketplace Cloud GTM to the masses.”
In its annual State of the Cloud Marketplaces Report, Tackle found that 83 percent of buyers said they were likely or extremely likely to purchase through Marketplaces and 67 percent of sellers said they were investing more into building their cloud go-to-market (Cloud GTM). The report also predicts marketplace growth will happen even faster than previously reported, expecting $50 billion in throughput by the end of 2025.
The era of digital selling of software is here and Tackle has emerged as a platform solution purpose-built for software companies — like CrowdStrike, Lacework, and VMware — to launch, scale and operationalize their businesses through the cloud marketplaces.
With this funding, Tackle will continue to invest deeply into bringing marketplaces closer to the point where buyers discover as well as more deeply integrating marketplaces into core software company systems like Salesforce. Tackle will streamline the workflow between co-sell systems and the Marketplaces to provide a single end to end integrated experience.
For more information about Tackle, visit www.tackle.io.