Channel Mechanics Raises $2.3 Million

PRESS RELEASE — SAN FRANCISCO, CA–(Marketwired – Dec 8, 2015) – Channel Mechanics, raised about $2.3M in angel funding. The funds, which will be used to expand channelIT to U.S. customers and increase Channel Mechanics’ presence in the country, come from principal investors Konstantin Sidorov, founder of enterprise IT services company, RRC Business Telecommunications, Ltd.; Karl Flannery, chair of the industry advisory board for Knowledge Transfer Ireland and longtime ICT industry executive; and Enterprise Ireland, the Irish government agency dedicated to helping Irish businesses grow and internationalize.

Channel Mechanics currently supports a dozen customers worldwide, including Cisco, Zebra Technologies, and Sonus Networks, and seeks to grow its US customer base. Using a SaaS platform, Channel Mechanics configures, communicates, launches and monitors market promotions in real-time. This allows differentiation of the partner base, instant flexibility to change offers, and the ability to bring true solutions to an increasingly commodity-driven channel. To date, no one has been able to combine this level of precision targeting, rapid time-to-market and real-time tools for managing and adjusting programs. Now there is a way to do it.

“If you look at the channel and how relationships between each component operate, the potential for innovation is truly astronomical,” said Konstantin Sidorov, lead investor for the round. “By using this platform to optimize operations and activities within the channel, enterprises win on all sides by identifying and eliminating ineffective marketing programs and tailoring existing and new ones to produce even better results.”

channelIT is specifically designed to address the consistent problems faced at any given tier in the channel, seamlessly integrated within the vendor’s partner program. Each tier has its own unique log-in through the customized vendor-branded portal, providing real-time visibility of channel programs. With a 360-degree view, businesses can track the success of existing programs and develop new programs on a smaller scale before introducing them region- or world-wide.

“Enterprise Ireland is delighted to support the Channel Mechanics expansion and growth in the U.S. market,” added Edel Coen, VP Enterprise Software, Enterprise Ireland USA. “Its channelIT platform is a game-changer in the area of SaaS Sales Enablement and a shining example of true innovation coming from Ireland.”

“The development of our U.S. operations has been the highest priority for Channel Mechanics,” said Channel Mechanics’ CEO Kenneth Fox. “With a growing U.S. customer base and a truly enterprise scale solution, we are taking the opportunity to grow Channel Mechanics’ presence in the country.”

For more information or to schedule a demonstration of channelIT, please visit www.channelmechanics.com.

About Channel Mechanics
Channel Mechanics offers a disruptive, industry-leading SaaS platform that accelerates revenue for companies leveraging the channel as their go to market model. Its flagship channel offer management platform, channelIT, gives organizations the tools, data and insights to turn great sales ideas into easily executable market promotions and sales programs — through the right channel partners to the right customers. For more information, please visit www.channelmechanics.com.

About Enterprise Ireland
Enterprise Ireland is the government agency responsible for the development and promotion of the indigenous business sector in Ireland. The mission of Enterprise Ireland is to accelerate the development of world-class Irish companies to achieve strong positions in global markets, resulting in increased national and regional prosperity www.enterprise-ireland.com.