SOURCE: Channelinsight

April 26, 2011 12:08 ET

Channelinsight Raises $10M; Rho Ventures Leads Round

InfoNow Rebrands as Channelinsight; New Round Will Drive Product Development and Expansion of Sales and Marketing Organization

DENVER, CO--(Marketwire - Apr 26, 2011) - Channelinsight, the leading provider of channel sales management solutions, has secured $10 million in Series C financing, bringing its total funding to $21 million. The round was led by Rho Ventures, with participation from Sevin Rosen Funds, Sequel Venture Partners and Vendanta Capital. The additional funding will fuel new product development and the growth of the company's sales and marketing organization. The company also announced today that it will rebrand InfoNow as Channelinsight.

"For most technology and manufacturing companies, channel sales are inefficient, as channel managers often have to guess at sales data and inventory levels," said Mark Geene, CEO of Channelinsight. "Our technology addresses this problem by taking the guesswork out of running the channel, making channel sales as productive as direct sales. As a result we are experiencing rapid growth and will use this new funding to amplify our momentum."

Channelinsight's suite of channel sales management products is proven to increase sales, optimize inventory, maximize return on discounts and incentives and ensure compliance. It is available through Salesforce CRM or standalone. The company also works closely with top systems integrators Accenture, PWC, and KPMG. Channelinsight serves companies in the financial services, industrial and technology sectors. Customers include Lexmark, AMD, Siemens and Polycom among others.

"Our expertise is in identifying and investing in companies that redefine the status quo," said Paul Bartlett, Rho Ventures partner and Channelinsight board member. "Channelinsight fits this profile by reinventing the way channel sales are managed, saving companies millions of dollars in the process. We believe Channelinsight has the right combination of talent and products to effectively capture, and sustain its leadership in, the market."

About Channelinsight
Channelinsight offers the only complete channel sales management solution in the cloud, providing technology manufacturers with visibility into every partner and every end-customer in every transaction in real-time and allowing them to gain the insight necessary to drive sales and optimize inventory. The company processes over 120 million POS and inventory transactions per year. Channelinsight is backed by Rho Ventures, Sevin Rosen Funds, Sequel Venture Partners and Vendanta Capital with headquarters in Denver. For more information visit: www.Channelinsight.com.

About Rho Ventures
Rho Ventures (www.rho.com) has a multi-stage investing strategy focused on high-growth companies in large markets. Rho Ventures' investments span new media, healthcare, IT, communications, energy technology and other disruptive technologies. Rho Ventures brings nearly 30 years of venture experience, combined with its partners' deep sector expertise and its far-reaching network to assist each portfolio company. This approach has allowed Rho to participate in the growth of some of today's most innovative and successful companies, including Active Power, Capstone Turbine, Ciena, Compaq Computer, EverydayHealth.com, Gloucester Pharmaceuticals, Human Genome Sciences, IntraLinks, iVillage, MedImmune, ReachLocal, Shire Pharmaceuticals and Tacoda. Rho Ventures is currently investing from Rho Ventures VI, a $510 million fund. The firm has offices in Palo Alto, Calif., New York and Montreal, with investments across the globe.

Contact Information

  • Channelinsight Media Contact:
    Jennefer Traeger
    Emerge Media Communications
    Email Contact
    720-988-6149