Business-to-business (B2B) companies are generating an increasing percentage of their revenue through partner ecosystems. In a 2018 Accenture survey, 76% of business leaders said that current business models will be unrecognizable in the next five years, with ecosystems being the main change agent. But despite their growing importance, businesses haven’t necessarily adopted technology to foster partnerships, instead relying on spreadsheets and lengthy virtual or in-person meetings.
Perhaps as a result, business ecosystems — while profitable — have a high failure rate. Research by BCG found that fewer than 15% were sustainable in the long run. But it doesn’t have to be this way. That’s according to Reveal CEO Simon Bouchez, who alongside Gautier Machelon, Perrine El Khoury and Alex Sadones aims to build a platform that allows B2B companies to more easily identify sales opportunities with their partners.
With customers including Qualtrics, Tealium, Contentsquare and Vonage. Reveal today announced that it raised $50 million in a Series A round led by Insight Partners with participation from Eight Roads, Chalfen Ventures, Dig Ventures, LocalGlobe & Latitude and Ventech.. The capital brings the startup’s total raised to about $54 million.
Before launching Reveal in 2020, Bouchez was the CEO of Multiposting, an HR tech startup, until 2018, when it was acquired by SAP. Sadones was the CTO at Multiposting, while Gautier co-founded employee sourcing and hiring platform Work4. Khoury was the director of business development at Work4.
Initially, Reveal, which was founded as Sharework, was focused on automated sales account mapping — i.e., the process of cataloging the people that work at a particular target account. But in 2020, the startup began to broaden its product strategy, targeting marketers seeking to create and convert sales leads.
Some might argue that Reveal’s product falls into the category of ecosystem management, or tools to navigate and manage B2B partner ecosystems. But Bouchez argues that Reveal goes a step further by involving sales and marketing teams in the process for lead generation, sales enablement and ecosystem expansion.
“We believe we have created a new category: a collaborative growth platform enabling companies to leverage their ecosystem to accelerate growth,” Bouchez said. “Our closest competitor would be an Excel spreadsheet or companies not yet tapping into this growth potential. Of course, we are expecting competitors as our space grows and attracts investment from top investors, and many companies — like Partnerstack, Crossbeam and Workspan — are growing fast.”