Canada-based 360incentives, a cloud-based incentives software platform, has raised $10 million in funding. Leaders Fund and Economic Development Canada led the round with participation from return backers OMERS Ventures and Klass Capital.
(January 27th, 2016) – Whitby, Ontario: 360incentives, the world’s first integrated cloud-based incentives software platform, today announced $10 million in new financing. Leaders Fund, the newly launched enterprise software-focused venture fund, and Economic Development Canada (EDC) led the round with participation from existing investors OMERS Ventures and Klass Capital. The capital will be allocated toward further development of 360’s unrivaled single-platform channel incentives software.
360 has a history of being first to market with dominant technology in the incentives space, introducing the idea of a technology-first solution to an antiquated industry back in 2008. In 2014, it became the industry’s first fully integrated channel incentives platform with the launch of its co-op advertising module. This marked the first time that all incentive programs could be run on a single technology platform. It also signaled a shift in the industry from a focus on claims processing to the value of channel reporting and management.
“Companies that sell through complex channels have long faced frustration due to losing sight of what happens out in the channel once their products have shipped to the distribution level,” said 360’s founder and CEO, Jason Atkins. “They had no way to know who was selling and buying the products and no way to be a part of ensuring a great experience for their consumers. Couple that with the data vulnerabilities associated with operating incentives across multiple solutions and it becomes difficult to make program decisions with certainty. By offering a fully-integrated solution on a single software platform, we give our clients the reporting visibility they need to make meaningful changes and build real growth.” He added, “We are thrilled to work with investors such as Leader’s Fund and EDC who understand our business imperative of constant innovation and how that translates into greater value for our clients.”
“We are excited to be a part 360incentives. They have built a visionary enterprise solution for the $500B incentives and channel market, a market looking for change and progress. The increased speed, efficiency and sales growth their Global 2000 customers are realizing is very impressive,” said David Stein, Co-Founder and Managing Partner at Leaders Fund.
360incentives provides the industry-leading channel marketing software platform. The platform empowers brands to create, measure and manage their incentives programs such as sales incentives, rebates and co-op/mdf in real time with 100 percent auditing and fast payout of claims. The Canadian company serves over 75 of the world’s top brands and has expanded to have operations around the USA and in London, UK.