Co-Investors Kennet Partners and Joe Wang Invest $17 Million to Acquire Majority Ownership of Leading SaaS-Based PRM Platform Provider TreeHouse Interactive

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Co-Investors Kennet Partners and Joe
Wang Invest $17 Million to Acquire Majority
Ownership of Leading SaaS-Based PRM
Platform Provider TreeHouse Interactive
TreeHouse Interactive?, the technology leader in SaaS-based partner relationship
management (PRM), announced today that Kennet Partners and co-investor Joe Wang have
acquired majority ownership of the software company.
SALT LAKE CITY, Utah, March 11, 2015 /PressReleasePing/ – TreeHouse Interactive™,
the technology leader in SaaS-based partner relationship management (PRM), announced
today that Kennet Partners and co-investor Joe Wang have acquired majority ownership of
the software company. Wang, who has already made his mark in the Utah high-tech
community as president and CEO of local software powerhouse LANDesk Software, will lead
the fast-growing PRM market leader as the new chairman and CEO. The company’s sole
shareholders Craig Flynn and Erich Flynn will remain with the company and collaborate with
Wang in leadership positions in development and sales. Craig Flynn will continue to drive
product engineering and innovation in his role as executive vice president of engineering.
Erich Flynn will expand and lead the company’s sales efforts as chief revenue officer.
Utah tech companies have become a hotbed for venture capital investments over the last few
years with several companies including InsideSales.com, Domo, AtTask, Jive and more
accepting investment deals to expand. In fact, Utah ranks 7th nationally in venture capital
funding for 2014. According to the PwC/NVCA MoneyTree Report, Utah companies raised
over $800 million in venture capital funding in 2014. That beats $316.2 million raised in 2013.
The recent investment in TreeHouse is largely based on the growth that is anticipated in the
PRM technology space.
In the 2014 Gartner Hype Cycle for CRM Sales*, PRM (partner relationship management),
along with technologies such as lead management and eCommerce SaaS, is on the “slope of
enlightenment” as an early mainstream maturity level that is expected to reach mainstream
adoption from less than two years for lead management and eCommerce SaaS, to
somewhere in the next two to five years for PRM. According to the report, PRM continues to
gain momentum as companies work to optimize sales and marketing activities across multiple
channels, and rely on third parties to expand their market presence.
In January TreeHouse reported that the company’s total overall 2014 revenue grew 49
percent over 2013. The number of partners supported by Reseller View™ PRM surpassed the
previous all-time high, reaching more than 160,000 worldwide at the end of 2014. TreeHouse
expects the number of partners supported by its robust PRM solution to nearly double in
2015. The company’s PRM platform supports global partner networks for industry-leading
enterprises including Xerox, Rackspace, Sungard AS, SGI, Magento, National Instruments,
CommVault and Quantum. Reseller View was identified as a leader in Forrester Research
Inc.’s The Forrester Wave™: Partner Relationship Management (PRM) Platforms report, and
cited for “more native functionality, superior user interfaces and usability” than competing
solutions.
Reseller View is the most comprehensive PRM solution available and was built from the
ground up by channel experts to provide vendors with a scalable platform to deliver vendor
partner sales forces with the feature rich tools needed to successfully sell, service and support
their products. Functionality includes, but is not limited to:
Deal Registration
Lead Distribution
Partner Portal Website Branded to Corporate Look and Feel
Automated MDF/Co-op Management
Partner Locator
Automated Training and Certification Program
“Through Partner” Marketing Enablement and Automation
Integrated “To Partner” Marketing Engine
Full Service Implementation (No Client Resource Required)
Automated Partner On-boarding Process
Automated Contract Management
Secure Partner Portal Environment
Out of the Box CRM Integration
Advanced Multi-Level Document Management
And much more…
“We are seeing more business generated by the channel than ever before,” said Darren
Bibby, program vice president, Channels and Alliances Research at IDC. “PRM technology
continues to gain market traction with the growing need for manufacturers to provide partners
with holistic technology solutions that automate and enable processes like deal registration,
lead distribution and MDF."
Kennet is a leading growth equity investor with $700 million under management and a long
track record of success. “We focus on bootstrapped companies that have a proven market
opportunity, product and growth potential. We were impressed with the growth and success
TreeHouse Interactive has achieved in the PRM space. With more financial resources and
leadership talent we are confident we can take them to the next level,” said Eric Filipek,
managing director of Kennet. “Our investment demonstrates the confidence we have in
TreeHouse’s PRM solution, the existing team and in its new CEO Joe Wang, who will bring
with him a tremendous track record of success.” In addition to Eric Filipek, Kennet managing
director Javier Rojas will also join TreeHouse’s board of directors.
Mr. Wang’s record includes growing businesses and generating tremendous returns during
his 25 years in high technology. As CEO at WatchGuard Technologies, he successfully turned
around the revenue declining and money-losing business, creating a profitable and growing
company with vastly improved technology and market position. Prior to joining WatchGuard,
Wang was president and CEO of LANDesk Software, an Intel spin-off, where he grew the
company by 150 percent in four years. He sold LANDesk Software in 2007, generating 11x
return for investors. Prior to LANDesk, Wang was founder and CEO of 20/20 Software. He
successfully grew the company and then sold to Symantec, generating 10x return for his
investors.
“Utah has developed into a hotbed of SaaS technology, and I’m excited to be back in this
dynamic market,” said Joe Wang, chairman and CEO of TreeHouse Interactive. “My
investment in TreeHouse demonstrates my strong belief that Reseller View PRM is by far the
best PRM technology available today, backed by a powerful team of people. I look forward to
strengthening our technology leadership position in the PRM market and expanding the
company worldwide.”
“Our Founder, Craig, and I vetted several investment firms over many months for possible
investment,” said Erich Flynn, chief revenue officer of TreeHouse Interactive. “Kennet
Partners and Joe Wang have a proven track record growing successful businesses. We are
looking forward to using this investment and adding resources to accelerate sales, product
roadmap, and growth objectives while continuing to deliver the innovative technology and
support our existing clients have come to expect.”
To learn more about Reseller View partner relationship management, see Reseller View
resources and customer reviews on the Salesforce AppExchange and Microsoft Pinpoint.
Tweet This: @treehousei Acquired by Kennet Partners to Accelerate #PRM Growth - Co-
Investor Joe Wang Named TreeHouse CEO - http://goo.gl/ciy0my