Everstage, a modern sales commission management platform, has raised $13m in a Series A funding round led by Elevation Capital.
Founded in mid-2020, Everstage said it was created to build a modern culture of trust, transparency and happiness among sales teams by providing real-time visibility of performance and commissions. Sales reps also use Everstage to forecast potential earnings from their deals pipeline, thereby, helping companies drive sales performance and align on rep behaviour.
Everstage said this round follows a successful six months in which the company scaled the business with their revenue growing five-fold while customer numbers have increased six-fold. In August 2021, Everstage raised a $1.7m seed round from 3one4 Capital, who have doubled down on their investment in this round.
The sales commissions management platform said it will use this funding round to expand teams and fully focus on capturing the global market demand for sales performance management.
Siva Rajamani, co-founder and CEO, said, “We started Everstage because we identified several pain points with the existing legacy sales commission vendors in the market. The market need was clear – customers wanted an easy to set up and use product that was high on ongoing configurability. Our conviction for disrupting the market has only gone up in the last one year with the amount of customers choosing us over established players.”
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