Everstage’s New Funding To Help Increase Revenue And Customer Base
Everstage is changing how sales commissions are calculated and paid, giving salespeople and organizations more freedom to succeed.
FREMONT, CA: In the current era, a company's sales team must be dynamic and create a modern culture of trust, transparency, and happiness by giving customers real-time visibility of their performance and commissions. Customers nowadays face various issues with the market's existing legacy sales commission vendors. Elevation Capital led a $13 million Series A fundraising round for Everstage, a modern sales commission management platform. Everstage has scaled the business in the last six months, with revenue increasing five-fold and customer numbers increasing six-fold. Everstage obtained a $1.7 million seed round from 3one4 Capital in August 2021, and they have doubled down on their investment in the new round.
"Everstage has added several novel features over the last year such as instant commissions on Slack, contract management and gamification of incentives. We have also seen a clear trend that it is not enough to be just another tracking tool. In this attention economy, we want to capture the reps pulse everyday. With our extensive gamification and personalized notifications management inside Slack and email, Everstage has really become a true way to retain and motivate rep towards performance goals," says Siva Rajamani, Co-Founder and CEO of Everstage.
Sales representatives use Everstage to anticipate possible earnings from their deals pipeline, assisting firms in driving sales performance and aligning rep behavior. Everstage will use this round of funding to grow its team and focus entirely on meeting the global demand for sales performance management.
"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," adds Rajamani.