Boston startup Relevize is helping software providers optimize their marketing efforts by distributing their paid marketing campaigns to the social media channels of software resellers.
Launched in 2020, the growing startup plans to build on its success with the addition of $6 million in seed funding. The funding round was led by Insight Partners, with participation from Hyperplane, Newfund, 1984.vc and Weekend Fund.
“Channel marketing teams lack the tools to excel in their roles, and Relevize looks forward to continuing to bring world-class technology to help them achieve their revenue goals,” Relevize CEO Michael Nardella said in a statement. “We could not be more excited to work with Insight Partners on the next phase of Relevize’s growth.”
Nardella told Built In via email that he expects to add six to eight key employees to Relevize’s 20-person team as a result of this seed funding round. The company is currently hiring for marketing, product and engineering roles as it looks to enhance the platform’s engagement and reporting capabilities.
Software companies like Chili Piper and New Relic ask their software resellers to onboard through Relevize’s platform, allowing the software developer to automatically distribute a paid marketing campaign to the reseller’s unique audience on LinkedIn, Facebook and other digital platforms based on the reseller’s first-party data. The platform also allows software providers and their partners to engage, track and attribute sales leads.
In the past year, Relevize says it customers have seen a 20-fold increase on the ratio of ad spend to pipeline created. Clients have also seen a 550 percent increase in pipeline generated through Relevize’s platform.
“The Relevize platform is producing some of the highest quality leads of any program we have in place to support partner pipeline acceleration,” Cindi Johnson, New Relic’s senior director of global partner marketing, said in a statement.
As part of this funding announcement, Julian Marcu of Insight Partners will join Relevize’s board of directors.
“Channel-led GTM and digital-first marketing strategies are becoming need-to-have for enterprise companies to hit revenue targets. With this tactical shift, the transition of channel partners from strictly implementation partners to revenue generators is becoming critical, and we see Relevize as a catalyst for this transition,” Marcu said in a statement. “Relevize is pioneering a new category in the channel-led GTM tech stack, and is generating significant ROI for its customers and their partners via time-savings, visibility and net-new lead generation.”
