Albion Ventures, one of the UK’s largest independent venture capital investors, has invested up to GBP3.5m in Relayware, a provider of B2B collaboration and multi-channel communication solutions.
The investment will enable Relayware to accelerate its growth and extend its lead in technological innovation.
Relayware delivers an indirect channel collaboration and communication solution that automates every stage in the channel partner lifecycle. The company estimates that around 96 per cent of companies rely on indirect channels to market, sell and support their products and services yet in many instances the relationship is challenged by a lack of control, accountability and influence and a limited association between investment and return.
Relayware provides the tools to select, recruit, on-board, train and incentivise companies’ indirect channels. In a single integrated platform, Relayware scales with a customer’s business to meet the needs of smaller, medium and large global enterprises. Current Relaywire clients include Sony, Allstate and Lexmark.
Emil Gigov, partner at Albion Ventures, says: “We are excited about partnering with Relayware. This transaction is the culmination of an extensive amount of research, which identified external social collaboration with indirect channels as a particularly high growth area across many industries. Albion continues to find exciting new investment opportunities in its key sectors of focus – technology, healthcare, renewable energy and others.”
Mike Morgan, chief executive officer Relayware, says: “We are delighted to partner with such an experienced software investor as Albion. From our very first encounter, they immediately recognised the significant productivity gains that Relayware could bring to any company with an indirect channel to market regardless of size or market. The Albion team brings real depth of understanding of our target markets and the application of our technology and we believe their strategic support will help us achieve our ambitious growth plans.”
