Channel Mechanics Raises $2.3M in Funding

ChannelMechanics_logoChannel Mechanics, a San Francisco, CA-based developer of channelIT, a cloud-based channel enablement SaaS solution, raised $2.3M in funding.

Backers included:
– 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 that supports the growth of Irish businesses.

The company intends to use the funds to expand channelIT to U.S. customers and increase its presence in the country.

Led by CEO Kenneth Fox, Channel Mechanics provides a SaaS-based channel offer management platform, channelIT, which gives organizations the tools, data and insights to turn sales ideas into executable market promotions and sales programs, through the right channel partners to the right customers by The configuring, communicating, launching and monitoring market promotions in real-time.
It currently supports a dozen customers worldwide, including Cisco, Zebra Technologies, and Sonus Networks, and seeks to grow its US customer base.



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