Everstage, a US-based B2B SaaS startup has closed its pre-seed funding round on August 11 2021, with securing a fundraise of US$ 1.7 million from notable investors like 3one4 Capital and angel investors such as co-founder of Rippling Prasanna Sankar, co-founder of Rippling Krish Subramanian and Rajaraman Santhanam, partner at Angellist India Utsav Somani, CRO of Freshworks Sidharth Malik, CEO of Ally.io Vetri Vellore, CEO of Rfpio Ganesh Shankar and CTO of Conga Koti Reddy among others.
Fund Utilisation
The startup will use these funds to increase the company’s workforce and launch B2B marketing campaigns. The firm is currently working with a crew of clients in the United States and aims to expand its operational activities on a much bigger scale in the forthcoming months. It also plans to expand its client base by a significant reach of 20x in the upcoming year.
What the CEO has to say
Siva, co-founder and CEO of Everstage, said, “A typical company spends more than 10% of their budget on commissions. Yet, most companies manage commissions over spreadsheets, losing out on the opportunity to provide visibility and drive sales performance through interventions.”
He continued, “Legacy vendors have also not addressed this problem effectively. In my previous role, while evaluating these vendors, we realised that they were professional services firms disguised as software products. There was neither flexibility for the Ops and Finance team, nor were they set up to motivate sales teams.”
What the Investors have to say
Principal and head of investments at 3one4 Capital, Anurag Ramdasan, said, “As customer acquisition and retention have increased in complexity with more roles and workflows than ever, Revops teams have become mandatory to drive revenue. With their considerable experience, the Everstage team is well-positioned to help Revops teams succeed, starting with real-time commission planning and administration, and we’re excited to partner with them.”
About Everstage
Co-founded by Siva Rajamani and Vivek Suriyamoorthy, Everstage helps companies drive the performance of their customer-facing teams through its no-code sales commission automation platform. It came into existence in 2020 when Rajamani(the then Global Head of Revenue Operations at Freshworks) came to notice a first-hand problem of the sales commission management complicating the work for ops & finance teams, resulting in a lack of transparency which in turn stressed sales teams. Thus, Everstage was born to satisfy this requirement by creating a platform that ultimately combines quota and commissions management under a no-code plan designer. This gives Ops and Finance teams the unlimited privilege of freedom of operating with the whole experience for customer-facing groups whilst dealing with the commissions effectively. To know more, check out https://www.everstage.com/.
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