For sellers, commission plans are often complex and insufficiently transparent, leading to accounting errors and frustration. Everstage, a sales commission platform, solves that, so sellers can see exactly how much they’ve earned. It also has features to estimate how many commissions they could potentially earn from their deals pipeline. Today, the startup announced it has raised $13 million in Series funding led by Elevation Capital.
MovieUpdates first covered Everstage last August when it announced a $1.7 million starting round from 3one4 Capital, which also returned for this round.
Everstage was founded in 2020 by Siva Rajamani, the former leader of Freshworks’ global revenue operations team, and Vivek Suriyamoorthy. Its clients include Chargebee, Postman, Nitro, Hackerrank, and CleverTap.
Everstage has added new features over the past year: instant commission visibility on Slack, contract management, and incentive gamification. For example, sales reps can enter different scenarios and see how that affects their payout estimates. Everstage also has leaderboards so salespeople know how they rank on their team.
Rajamani told MovieUpdates that revenues have increased 5x since Everstage’s seed funding, thanks to a 6x increase in customer base. While the majority of Everstage’s customer base is located in the United States, it now also has customers in Europe, Asia-Pacific, and Africa. It is used by companies in vertical sectors, including technology, business services, financial services, insurance, health technology and logistics. Everstage also increased the size of its team from 20 at the time of the seed funding to 70 now.
The funding will be used to grow Everstage’s go-to-market, product and engineering teams, as well as branding and marketing.
In a prepared statement, Akarsh Shrivastava, Principal at Elevation Capital, said: “We were super impressed with how, unlike today’s legacy vendors, Everstage elegantly enabled companies to design and execute even the most complex plans. while providing a modern UI/UX and consumer app-like experience.”