Everstage Raises $13 Million to Expand its Sales Commission Platform; The Chennai and Delaware-based SaaS company that provides a modern sales commission management platform, founded by Siva Rajamani and Vivek Suriyamoorthy has announced.
Sales Team are accustomed to receiving 50% or more of their income in commissions based on the amount of business they bring in. But how can they – and their employers – keep track of their earnings daily? “Sales teams have been using shadow accounting systems for years to track what they’re earning,” says Siva Rajamani, Everstage’s co-founder and CEO. “They frequently have no notion how much they’ve made until they’re paid.”
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“We launched Everstage because we recognized multiple pain points with the existing legacy sales commission suppliers in the market,” says Rajamani, who had experienced similar issues in his previous role as head of Freshworks’ worldwide revenue operations team. “The market demand was clear: clients wanted a simple product to set up and operate, with a high level of continuous configurability.”
According to a Gartner report, “just 24 per cent of surveyed account executives can quickly determine their overall variable compensation.” Offering transparency to salespeople is more crucial than ever to help motivate them and drive revenue growth.
Elevation Capital Principal Akarsh Shrivastava stated, “Companies are continually striving to build unique incentive strategies to improve sales performance, thanks to the ever-increasing data on GTM actions. Everstage enables businesses to create and manage even the most complicated plans while maintaining a current UI/UX and consumer-app-like experience.”
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“We are pleased to welcome additional partners into the journey and double down as the team further scales their GTM and cements themselves as the enterprise’s most trusted sales commission management software,” said Anurag Ramdasan, Partner at 3one4 Capital.
Everstage will use the funds to expand its sales, engineering, and solutions teams to better serve customers worldwide. According to a release, the 50-member team is scheduled to triple in size by the end of the year.