CaptivateIQ, a startup founded in 2017 that automates commissions has raised a $13M Series A led by Sequoia Capital with support from the existing investors including Y Combinator, Amity, and S28.
The new funding will allow the company to continue on its mission of helping companies around the world unlock the power of incentives to create better alignment across teams.
The company statement said that with the new funding they are planning to do four key things.
- Make processing sales commissions even faster and simpler for companies that are stuck in spreadsheets.
- Grow our amazing team to scale the business (check out our available roles).
- Continue to help customers empower their sales teams through financial incentives.
- We look forward to partnering with the Sequoia team as we continue to simplify sales commissions for every company.
The Co-CEO of the company, Mark Schopmeyer mentioned that over the past two and a half years, our team at CaptivateIQ has been working on a modern solution for everybody that is involved in the world of commissions from sales ops, to finance and accounting, to sales reps. We’ve helped companies like Gong, GitLab, and Udemy streamline their commission’s process to save countless hours and potential errors while adding transparency back for their reps.
With startups like these things are becoming easier for companies to manage such critical things. With more and more digital penetration across the globe, these facilities will thrive and help in automating all such processes.