At a Glance
Everstage, a sales compensation SaaS, has raised $1.7M from 3one4 Capital in a seed round. The funds will be utilized to hire additional staff and launch B2B marketing campaigns. It intends to extend its activities in the United States on a much larger scale during the next 12 months.
Everstage, a sales compensation SaaS, has raised $1.7 million in a seed round funding led by 3one4 Capital. Other participants include several angels such as Prasanna Sankar, co-founder of Rippling; Krish Subramanian and Rajaraman Santhanam, co-founders of Chargebee; Sidharth Malik, CRO of Freshworks; Koti Reddy, CTO of Conga; Vetri Vellore, CEO of Ally.io; Utsav Somani, a partner at Angellist India; Ganesh Shankar, CEO of Rfpio among others.
The funds will be utilized to expand the company’s staff and launch B2B marketing campaigns. The firm intends to increase its client base by 20X in the following 12 months. Everstage already has several clients in the United States. Next year, it plans to expand its activities to the United States on a far bigger scale.
Delaware and Chennai-based Everstage, founded in 2020 by Siva Rajamani, formerly of Freshworks, and Vivek Suriyamoorthy, formerly of DE Shaw, is a no-code sales commission automation platform that helps organizations improve the effectiveness of their customer-facing employees. SaaS startups and high-performing firms like Chargebee, Postman, and Lambdatest are among the early clients.
“A typical company spends more than 10 percent of their budget on commissions. Yet, most companies manage commissions over spreadsheets, losing out on the opportunity to provide visibility and drive sales performance through interventions.”Siva, co-founder and CEO of Everstage, said,
He added, “Legacy vendors have also not addressed this problem effectively. In my previous role, while evaluating these vendors, we realized that they were really professional services firms disguised as software products. There was neither flexibility for the Ops and Finance team, nor were they set up to motivate sales teams.”
Everstage was created to fill this need by creating a platform that completely combines quota and commissions management and a no-code plan designer that gives Ops and Finance teams unlimited freedom while gamifying the whole commissions experience for customer-facing teams.
“As customer acquisition and retention have increased in complexity with more roles and workflows than ever, Revops teams have become mandatory to drive revenue. With their considerable experience, the Everstage team is well-positioned to help Revops teams succeed, starting with real-time commission planning and administration, and we’re excited to partner with them.”Anurag Ramdasan, a principal and head of investments at 3one4 Capital, said,