REDWOOD SHORES, CA and NEW YORK, NY--(Marketwired - Apr 12, 2017) - Zyme, the market leader in the rapidly growing discipline of channel data management (CDM), today announced that it has entered into a definitive agreement to sell a majority ownership position to Insight Venture Partners ("Insight"), a leading global private equity and venture capital firm, in a transaction valued at over $100 million.
This financial partnership with Insight will enable Zyme to build a new solution category around its CDM technology that enables customers across the world to leverage data and analytics to optimize channel marketing, channel sales, channel inventory and partner performance.
"Our success comes from enabling our customers to gain visibility into their sales activity in the indirect channel and helping them use this data to drive intelligent business decisions," said Chandran Sankaran, CEO of Zyme. "The use of CDM has matured quickly in recent years, strengthening our ability to lead the next generation of solutions for the data-driven optimization of the global channel. We are excited about the new partnership with Insight Venture Partners, and what it means for us and our customers. This partnership grants us the ability to further amplify the power and reach of our solutions, and will provide our customers with new ways to drive revenue through their indirect channels."
"There is tremendous opportunity for CDM to reinvent how the global indirect channel is managed, making Zyme a unique investment opportunity in the market," said Ryan Hinkle, Managing Director at Insight Venture Partners. "We are excited to welcome Zyme to our portfolio, and look forward to building upon their momentum and track record."
"Zyme is transforming traditional channel management processes with data. We look forward to working with the team to capture their full market potential and accelerate their organic and inorganic growth," added Ross Devor, Principal at Insight Venture Partners.
The transaction will buy out a majority of existing investors and shareholders of the company, including early investor Susquehanna Growth Equity.
The investment agreement, which is subject to customary closing conditions, is expected to be completed within the second quarter of 2017.
Spurrier Capital Partners and Cooley LLP acted as the financial and legal advisers respectively to Zyme. Willkie Farr & Gallagher LLP is serving as legal counsel to Insight Venture Partners.
Zyme provides the leading channel data management (CDM) cloud platform, delivering critical downstream visibility for global companies that leverage distributors, resellers, retailers and e-tailers to sell their products. Zyme's flexible, real-time data platform powers the New Smart Channel(SM), a proven approach to acquiring actionable knowledge that enterprises need to accelerate partner sales and optimize marketing ROI. With a channel directory of more than 1.5 million partners, Zyme processes more than one billion transactions annually across more than 150 countries, providing decision-grade intelligence to optimize business processes like sales execution, inventory management, partner rebates and incentives, marketing and financial compliance.
Pre-built integrations with Salesforce and other innovative cloud solution providers help Zyme's industry-leading customers, including Amazon, Dell, Fujitsu, GE, Microsoft, Plantronics, Seagate, Symantec, VMware and Xerox use channel intelligence to solve core business problems. Headquartered in Redwood Shores, CA, Zyme has offices in India, Texas, China and the UK. For more information, visit www.Zyme.com.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth software and internet-enabled companies that are driving transformative change in their industries.
Founded in 1995, Insight has raised more than $13 billion and invested in more than 250 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success.
For more information on Insight and all of its investments, visit http://www.Insightpartners.com or follow us on Twitter: @Insightpartners.