PartnerStack Closes $29 Million Series B Funding Round

PartnerStack, provider of the only partnerships platform designed to create new revenue channels for SaaS businesses, today announced that it has closed $29 million USD in Series B funding. This investment round was led by 3L with participation from Whitecap Venture Partners, Harbourvest and existing investor RRE Ventures, and caps off a fourth consecutive year of triple-digit revenue growth for the company since its founding through Y Combinator in 2015.

With this new round of funding, PartnerStack will invest in recruiting more high-value partners into its partner network, building more opportunities into its platform for SaaS companies and partners to discover each other, improving its built-in payments and automation technologies, and scaling up its go-to-market efforts alongside its own partner program to bring the power of partnerships to even more SaaS companies.

In the past year, PartnerStack’s network of 65,000+ active partners has driven over $120 million USD in revenue and over 1.6 million new customer sign ups for companies hosting their partner programs on the PartnerStack platform. The platform is ranked #1 in Partner Management Software by leading business software review site G2, which also named PartnerStack one of the Top Products for Sales and Fastest Growing Products in its 2021 Best Software list.

PartnerStack was ranked Canada’s #1 Best Workplace in its size category by Great Place to Work®, and more than doubled its headcount to 136 people in the past year, all while the company transitioned from working in its Toronto headquarters to being fully remote during the coronavirus pandemic. As it gears up for the next stage of growth, PartnerStack is looking to continue growing its team and to establish a new headquarters in Toronto.

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