Enterprise software-as-a-service startup Everstage Inc. announced today that it had raised $30 million in new funding to increase product innovation and elevate its customer experience.
Founded in 2020, Everstage offers a sales performance management platform that automates the management of sales commissions within organizations. The platform offers solutions to simplify the creation, tracking and execution of commission plans with the aim of helping companies drive better performance and accuracy.
Key features of Everstage’s platform include real-time commission forecasting that allows sales reps to understand their potential earnings from closed deals. The platform also offers a business intelligence-powered reporting and analytics module that provides insights on optimizing compensation strategies.
Everstage integrates with a variety of systems and tools to automate workflows that streamline commission processes and reduce administrative burden, all while ensuring transparency and compliance. The platform additionally offers gamification features to motivate sales teams by providing clear visibility into their earnings potential and progress.
The platform is pitched as offering simplicity and flexibility that is ideal in industries such as technology, manufacturing and financial services. The platforms modular architecture allows businesses to adopt the platform to their evolving needs and in doing so, drive profitability and operational success.
Everstage has seen strong growth, including 300% year-over-year revenue growth in the last year, with several Fortune 1000 companies using Everstage’s services. Notable customers include Gray Television Inc., John Wiley & Sons Inc., Diligent Corp., Trimble Inc. and Paychex Inc.
Eight Roads Ventures led the Series B round, with existing investors Elevation Capital Management Pte Ltd. and 3one4 Capital Advisors LLP also participating.
“Our Series B is not just about growth; it’s about a long-term commitment to our customers”, Siva Rajamani, co-founder and chief executive officer of Everstage, said in a statement. “In a market dominated by traditional vendors, we’ve questioned the status quo by offering a modern, strategic approach to sales performance management.”
“This investment will allow us to double down on product innovation and elevate our customer experience with the highest standard of service, unlike anything the market has seen before,” Rajamani added.
Including the new funding, Everstage has raised $45 million to date.