CaptivateIQ, a San Francisco-based startup allowing firms’ revenue teams to reap the incentives of automated commission tracking, has raised US$ 100 million in a Series C funding round co-led by Sequoia Capital, Accel and ICONIQ Growth on 26 January 2022.
Investors: The latest investment round featured ICONIQ Growth, Accel and Sequoia Capital as the lead investors with participation from Sapphire. The startup has managed to raise, in total, over US$ 164 million to date.
Purpose of the funding: The startup seeks to deploy the proceeds from the investment round to modernise its core product features further, better adjust to shifts and individualise outcomes, plans and workflows in an optimised way. It also aims to ramp up recruitment across the engineering, product and design, sales, and marketing departments.
About CaptivateIQ
Brought to existence in 2017 by Conway Teng, Hubert Wong and Mark Schopmeyer, CaptivateIQ utilises an eclectic mix of data, derives payouts and builds insightful information statements and reports through its intuitive platform, thereby empowering companies to fuel real-time calculations and automate labour work. The firm’s powerful reporting and rationality-based modelling makes teams more effective and enables them to perform repeated calculations confidently to reach revenue milestones. The company’s reporting and collaboration tools drive flawless communication between compensation plan administrators and sales professionals. Currently, the success stories of the revenue teams of Grammarly, Amplitude, ClassPass and Gong serve as real-life testimonies of CaptivateIQ’s efficient solution.
What the Founder has to say: “Firms are increasingly adopting our solution, as we witness a growth in customer base and overall revenue. Our offering allows firms to keep their staff motivated and engaged in the new age of work. It is elating to cater to such sublime customers and be backed by supportive investors and world-class partners who have strong faith in CaptivateIQ’s vision. We envisage structuring incentive compensation management as a tactical business advantage by ensuring productivity, transparency, job satisfaction.”- Mark Schopmeyer, Co-Founder of CaptivateIQ.
What the Investor has to say: “The robust finance background of CaptivateIQ’s leadership team coupled with their acquaintance with handling commissions allows them to comprehend the challenges confronted by commission administrators and revenue leaders. The company has made new strides in commission management. We intend to financially support them in their growth journey so that they can emerge as industry leaders.”- Doug Pepper, General Partner at ICONIQ Growth.
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