Austin’s Iconixx lands $4.2m for compensation software

Incentive compensation software-maker Iconixx has landed $4.2m in a new round of funding.

Existing backers Ballast Point Ventures, Harbert Growth Partners, S3 Ventures and the firm’s own management team led the round.

The Austin, Texas-based company offers software solutions for sales, bonuses and salary compensation.

It also aims to partner with clients to offer actionable intelligence across industries including mortgages, insurance, retail and financial services as well as other sectors outside of finance.

Iconixx CEO and Chairman Derrik Deyhimi said: “Our solid sales pipeline, proven customer success accomplishments and product enhancements have propelled our rapid growth and award-winning customer support team.

“The hard work of our skilled team has driven our successes, and we expect to see these accelerated.”

The company will use the capital to further develop its product and increase its market share by hiring more sales staff.

The round brings Iconixx’s total funding to more than $23m with it previously picking up $10m in a round led by Harbert Growth Partners and S3 Ventures.

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