Financial investment firm Kennet Partners and co-investor Joe Wang made a $17 million investment in TreeHouse Interactive, a partner relationship management (PRM) provider, acquiring a majority ownership in the company.
TreeHouse offers software as a service SaaS platform to help brands manage partner programs, similar to how a CRM platform manages customer relationships. The PRM platforms monitors interactions between partners and their clients, tracking such factors as email campaign effectiveness, open rates, and shares on social media. Revenue reporting features trace lead generation and point-of-sale data.
The company's software supports global partner networks for Xerox, Rackspace, Sungard AS, SGI, Magento, National Instruments, CommVault, Quantum, among others.
Wang made the investment for Treehouse's PRM technology and leadership. "Xerox has thousands of partners worldwide," he said. "It's important to educate them and share new advertising programs.
In January the company reported that revenue grew 98% compared with the prior year.
Wang, who spun off LANDesk Software from Intel, takes the lead as chairman and CEO.