Sales Compensation software
Updated: April 23, 2022
2022. Everstage raises $13M Series A to make sales commissions more transparent
For sales reps, commission plans are often complicated and lack transparency, leading to accounting errors and frustration. Everstage, a sales commission platform, solves that, letting sales reps see exactly how much they earned. It also has features to estimate how much commissions they can potentially make from their deals pipeline. Today, the startup announced it has raised $13 million. Everstage has added new features over the past year: visibility of instant commissions on Slack, contract management and incentives gamification. For example, sales reps can input different scenarios and see how that will affect their payout estimates. Everstage also has leaderboards, so sales reps know how they are ranked among their team.
2021. QuotaPath raises $21.3M to help sales teams better track commissions
QuotaPath, which has developed a commission-tracking solution for sales and revenue teams, has raised $21.3 million in a Series A funding round. With QuotaPath a sales team can forecast more earnings and create more goals around what they want to do,” Bruno said, “and connect those goals to the bottom line of the company. The startup launched its paid platform in June 2020 and works with companies with as few as three reps to as many as a few hundred that range from SaaS to commerce shops to low-tech businesses such as wedding venues and funeral homes.
2021. Pequity, a compensation platform designed for more equitable pay, raises $19M
Diversity and inclusion have become central topics in the world of work. In the best considerations, improving them is a holistic effort, involving not just conceiving of products with this in mind, but hiring and managing talent in a diverse and inclusive way, too. A new startup called Pequity, which has built a product to help with the latter of these areas, specifically in equitable compensation, has now raised some funding — a sign of the demand in the market, as well as how tech is being harnessed in aid of helping it. Pequity works by plugging into all of the other tools that an HR professional might be using — HRIS, ATS, and payroll products — to manage salaries across the whole of the organization in order to analyse and compare how compensation could look for existing and prospective employees. It combines a company’s own data and then compares it to data from the wider market, including typical industry ranges and market trends, to provide insights to HR teams.
2021. CaptivateIQ raises $46M for its no-code sales commissions platform
CaptivateIQ, which has developed a no-code platform to help companies design customized sales commission plans, has raised $46 million in a Series B. The company touts its SaaS platform as a combination of the familiarity of spreadsheets with the scalability and performance of software, so that users can configure any commission plan “entirely on their own”. Another goal is to automate and streamline the commissions process from beginning to end. The startup is expanding its data integrations to support “all major data systems” and introducing new dashboarding capabilities. It’s also enhancing existing collaboration workflows around approvals, inquiries and contracts.
2021. SetSail nabs $26M Series A to rethink sales compensation
SetSail, the startup that wants to upend the way sales people get compensated by paying them throughout the sales cycle, rather than a single commission after the sale closes, has raised a $26 million Series A. SetSail connects to your CRM, email, calendar and other systems that have signals about the progress of a particular sale, and then using machine learning looks at points in the sales cycle where it would make sense to reward the sales person for the progress they are making. SetSail leverages machine learning to analyze customer interactions and uncover what’s driving progress in your deals.