New York City, NY – October 16, 2024: Sales performance management startup Everstage has announced a $30 million Series B funding round led by Eight Roads Ventures, a Mumbai-based venture capital firm. Existing investors Elevation Capital and 3one4 Capital also participated in the round.
This latest investment brings Everstage’s total funding to $45 million and marks the company’s largest funding round to date. The fresh capital will be used to accelerate product development, enhance customer experience through bolstered professional services, and explore the integration of artificial intelligence into their platform.
“This investment will allow us to double down on product innovation and elevate our customer experience with the highest standard of service, unlike anything the market has seen before,” said Siva Rajamani, co-founder and CEO of Everstage.
Strengthening Customer Success
To achieve its customer experience goals, Everstage announced the appointment of Kelly McGuire as Vice President of Customer Success. McGuire brings over 15 years of experience from companies like Glassdoor and Sisense and will lead efforts to scale client services.
Simplifying Sales Commission Automation
Founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy, Everstage offers a cloud-based software platform (SaaS) that automates and simplifies sales commission processes. The company caters to a diverse clientele across technology, manufacturing, and financial services, including GrayTV, Wiley, Diligent, Trimble, and Paychex.
“Customers consistently expressed their appreciation for the product’s simplicity and intuitive design, which significantly shortens the time to value,” said Aditya Systla, partner at Eight Roads Ventures.
Investing in the Future
With this new funding round following a 300% revenue surge in the past year, Everstage is poised for further growth. Additionally, the company announced a ₹5 crore Employee Stock Ownership Plan (ESOP) buyback, demonstrating their commitment to employee engagement.
AI-Powered Sales Operations
Looking ahead, Everstage is exploring the integration of artificial intelligence (AI) into their platform. They plan to introduce an AI Agent Creation Studio, allowing revenue operations professionals to build AI assistants. These AI assistants will handle tasks like sales performance analysis, plan building, and modelling recommendations, further streamlining sales operations.
With a strong focus on innovation, customer experience, and employee engagement, Everstage is positioned to become a leader in the sales commission automation market.
