Tackle.io secures $7.25M Series A funding to accelerate B2B software ecommerce through the cloud marketplaces
Cloud Providers are changing the way enterprise software is bought and sold. As a result, software buyers are turning to the Cloud Marketplaces for third-party software purchases, allowing them to consolidate IT spend, simplify procurement, take advantage of committed spend with Cloud Providers, and accelerate time to value. Forrester predicts that 17% of the $13 trillion in B2B spend will flow through Marketplaces by 2023. However, for software organizations, trying to launch successful channels via a Cloud Marketplace is time-consuming, requires internal engineering resources, and each Marketplace is different.
Enter Tackle.io, a Boise, Idaho-based tech startup and a provider of a platform that helps software companies initiate revenue channels with the cloud marketplaces such as AWS, Azure, and GCP. Tackle’s platform simplifies the listing process and eliminates the need for edicate engineers to learn and continually manage the technical aspects of the three cloud marketplaces.
Today, Tackle announced it has closed $7.25 million in Series A funding to help providers sell their software in the cloud marketplaces. The round was led by Bessemer Venture Partners.
Founded in 2016 by Brian Denker, Dillon Woods, and John Jahnke, Tackle is solving the problem of making the software buying process friction-free for buyers and sellers. Tackle’s Cloud Marketplace Platform drastically reduces time to list and sell products on Marketplaces, while giving software providers the tools they need to run their Marketplace business effectively. Sellers embrace Marketplace because of its easier access to budget dollars, streamlined contracting, and the opportunity to co-sell with the Cloud Providers. Buyers love the new avenue as it offers faster access to tools to enable digital transformation and more channels to scale cloud contracts to get volume-based discounts.
“As consumer patterns continue to enter the B2B world, we believe online purchasing options will be demanded by enterprise software buyers,” said John Jahnke, CEO of Tackle.io. “Marketplaces offer an avenue for sellers to sell the way that buyers want to buy. Our mission at Tackle is to make the experience of selling via the Marketplace more seamless than doing business directly.”
Tackle has helped customers transact more than $100M in revenue through the three Cloud Marketplaces: AWS Marketplace, Azure Marketplace, and GCP Marketplace. Since the beginning of 2019, Tackle has 10x revenue and 8x customers by selling via Marketplace and using their own software to run their business via Marketplace.
“There’s a renaissance in B2B commerce and we’re seeing B2B transactions more online across all industries,” said Michael Droesch, Vice President of Bessemer Venture Partners. “Enterprise buyers want a seamless experience for experimenting with and purchasing software, and the Cloud Marketplaces are a natural aggregation point for this type of purchasing. We’re thrilled to invest in Tackle, a company at the forefront of using innovative technology to transform B2B Marketplaces and help businesses become more efficient.”