Zyme, a channel data management (CDM) cloud platform provider, has sold majority ownership of its business to private equity investor Insight Venture Partners. The investment is valued at more than $100 million and is expected to be completed by the end of June.
Insight will buy out the majority of Zyme's existing investors and shareholders. The venture capital firm also plans to help Zyme explore ways to accelerate its organic and inorganic growth, Insight Principal Ross Devor said in a prepared statement.
In addition, the investment will allow Zyme to develop a new solution category around its CDM technology that allows customers to leverage data and analytics for channel marketing, channel sales, channel inventory and partner performance.
"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," Zyme CEO Chandran Sankaran noted in a prepared statement.
What Is CDM?
CDM involves the acquisition and use of data that comes from the channel, according to Zyme. With this data, companies can gain insights into the way business is conducted in the channel.
Ultimately, CDM can provide businesses with actionable knowledge to accelerate partner sales and optimize marketing program return on investment (ROI), Zyme indicated in a prepared statement. It helps companies uncover blinds spots in their channel operations, Zyme stated, and find ways to fix these problems faster than ever before.
CDM may help businesses capitalize on the rising demand for state-of-the-art data management and analytics solutions.
In fact, technology research firm Gartner pointed out that CDM can support business users in many areas.
"Customer data and analytics can be part of the domain of B2B marketers. IT needs to make it possible for B2B marketers to improve their segmentation and targeting to increase share of wallet. Cloud-based or outsourced analytic solutions, often designed for marketers rather than data scientists, can help unlock hidden opportunities, even with limited resources and infrastructure," Gartner wrote in a recent report.
