At first glance, Everstage’s business proposition seems disarmingly simple. The company, which today unveiled a $30 million Series B fundraising round, offers software that allows sales teams – and their managers – to track how much they earn in commissions. However, Everstage’s founders say it offers much more than just transparency: such tools can support business performance and, therefore, make or break the business.

“We’re really trying to serve our clients’ revenue operations professionals – the brains behind their go-to-market funnel,” says Siva Rajamani, co-founder and CEO of Everstage. “It’s about how you manage and motivate the sales teams that drive your revenue.”

Forbes first profiled Everstage two and a half years ago, revealing details of its Series A fundraising. Since then, the company has grown rapidly, with revenue increasing fourfold in each of the last two years and with a view to a threefold growth during 2024. The number of customers now exceeds 200, with companies spread across different sectors, notably manufacturing. , financial services and pharmaceuticals, as well as the technology sector in which he started.

The concept is simple. Everstage realized that although salespeople were supposed to be incentivized by commission structures to work harder and sell more, many of these structures were so complex and opaque that salespeople couldn’t keep track of what they were doing. were earning – nor how much more they could earn. if they redoubled their efforts. So its software addresses this challenge head-on: sales reps can access the platform to determine exactly what their current performance means for their compensation, and what improving that performance would do for their revenue.

“We are helping a growing number of businesses plan and manage their commission plans,” adds Rajamani. “Sales commissions are obviously an important sales expense that companies need to monitor closely, but they are also a key part of their strategies to incentivize sales teams. »

Everstage’s own customer reviews suggest the proposition is resonating. The company has won the top spot for sales compensation platforms on review sites such as G2 and Gartner. Its client list now includes major companies, including GrayTV, Wiley, Diligent, Trimble and Paychex.

Rajamani now says the company is determined to build on the success it has achieved in the three years since its launch in 2021. “This investment will allow us to double down on product innovation and elevate our experience customer with the highest level of service. ” he said of the company’s latest fundraising.

Today’s round is led by Eight Roads Ventures, with participation from existing investors Elevation Capital and 3one4 Capital, and brings the total investment amount raised by Everstage to $45 million.

“Everstage’s modular product helps organizations dynamically manage their changing business performance management needs and align frontline teams with the organization’s broader goals,” says Aditya Systla, Partner at Eight Roads. “Customers have consistently expressed appreciation for the simplicity and intuitiveness of the product. design, which considerably reduces the recovery time.

The money will fund new investments in sales and customer support – the company has already hired a new customer success manager – but also fund product development. Everstage sees potential to expand into products and services adjacent to the commission tracking space, such as target and territory planning. “We want to create a solution that can solve a growing number of challenges faced by business operations professionals,” says Rajamani.