At a Glance
QuotaPath, a commission-tracking solution for sales and revenue teams, raised $21.3M in a Series A round led by Insight Partners. QuotaPath intends to grow its staff by the end of the year with the new fund. The company has raised a total of $26.3M since its inception, including this round.
QuotaPath, a commission-tracking solution for sales and revenue teams, has raised $21.3 million in a Series A funding round led by Insight Partners. Other participants include ATX Ventures, Integr8d Capital, Stage 2 Capital, and HubSpot Ventures.
QuotaPath now employs 28 people and intends to increase that number by the end of the year with the help of its new funding. It also wants to scale collaborations and expand product offerings to finance and HR departments. Since its beginning in 2018, the firm has raised a total of $26.3 million, including this round.
QuotaPath was created by AJ Bruno, Cole Evetts, and Eric Heydenberk to assist companies to build and expand high-performing, engaged growth teams. According to the company, it allows teams to streamline the commission process and minimize inaccuracies in budgeting, payments, and unhappy sales representatives owing to inadequate sales commission planning, reporting, and administration.
Sales representatives may gain additional visibility into profits and quota attainment thanks to real-time CRM connections with Salesforce, HubSpot, and Close.com, according to QuotaPath.
With QuotaPath, a sales team can forecast more earnings and create more goals around what they want to do and connect those goals to the bottom line of the company.AJ Bruno
The firm debuted its paid platform in June 2020 and works with organizations ranging from SaaS to commerce stores to low-tech enterprises like wedding venues and funeral homes, with as few as three reps to as many as a few hundred.
Rachel Geller, a managing director at Insight Partners, who will be joining QuotaPath’s board, said that her firm’s ScaleUp engine, Insight Onsite, makes it a priority to assist its portfolio create high-performing and scalable sales and marketing functions.
Our sales experts are in the trenches understanding the challenges sales teams face, and tracking sales commissions is top of mind. Organizations need a formula-free solution to their current pain of spreadsheets and legacy solutions, and QuotaPath presents a clear alternative.Rachel Geller, a managing director at Insight Partners
Insight was particularly impressed by QuotaPath’s easy use and quick time to implement, compared to competing systems, according to Ms. Geller. She said, “QuotaPath customers can be up and running in days.”
QuotaPath has over 5,000 users on the platform, with 40% of them being paid customers. Guru, Contractbook, Mailgun, Cloud Academy, SaaSOptics, and OSG are among the company’s clients.