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Amadeus leads USD11 million growth investment in Relayware

Technology investor Amadeus Capital Partners has led an investment of USD11 million alongside existing venture capitalist investor Albion Ventures, in Relayware, a software provider that accelerates channel revenues. 

The investment will help drive growth in the US, the largest and most mature market for the Software as a Service (SaaS) industry, which is forecast to be worth USD132 billion globally by 2020.

Relayware is a global provider of Partner Relationship Management (PRM) software and services that produce valuable insights to bring organisations closer to their partners. Its software automates the partnering process and provides the visibility needed to gain an understanding of partner effectiveness, optimise channel sales performance and accelerate revenue growth.

In 2013, Relayware secured USD5.5 million from one of the UK’s largest independent venture capital investors, Albion Ventures, to amplify its sales and marketing, expand operations and hire key executives to drive growth and scale the business.

Amadeus Capital Partners and Albion Ventures’ investment and expertise will allow Relayware to grow its platform with operations in Oxford, UK as well as in the US in New Jersey and California. The company targets technology and manufacturing companies, including high-growth start-ups and enterprises, as its main source of growth.

“The US is the main market for the fast-growing software-as-a-service (SaaS) industry, and Relayware is a leader in the field of partner relationship management,” says Richard Anton, Partner, Amadeus Capital. “The company will continue to grow its existing customer base and scale into complementary areas that support channel marketing, sales and operations. Amadeus’ investment will enable Relayware to realise that potential.”

Relayware was founded in 2007 and is helmed by successful entrepreneur Bob Mann, a former European head of US software group Siebel Systems. The company has grown significantly since its inception, and its previous investment round led by Albion Ventures helped it reach new heights. Over the past year, it has doubled its customer base, grown revenues by 35 percent and achieved its largest fourth quarter ever, among other recent successes. It also has achieved widespread industry recognition, as it was recognised with a 2015 American Business Award in the Relationship Management category.

“Relayware’s continued expansion stems from our unwavering focus on enabling businesses to empower their channel partner networks,” said Relayware CEO Bob Mann. “We’re extremely honored to welcome Amadeus Capital into our group of investors, and we look forward to tapping into its expertise, alongside Albion Ventures’ sustained support, as we realize our vision for improving channel partner performance. This newest round of investment will support growth initiatives in the US and better equip us to serve the changing needs of the channel, as the industry enters its next phase of growth.”

Revenues for the global SaaS industry are projected to hit USD106 billion in 2016, representing a 22 percent increase on the previous year, according to Forrester Research. That growth is expected to continue to outpace the overall enterprise IT sector, with sales reaching USD132 billion by 2020, according to a report from Google Accel.

Following the investment, Amadeus Capital Partners will become a major shareholder alongside Albion Ventures and company management.

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