Everstage Raises $13M in Series A Funding
Everstage, a Wilmington, Delaware-based provider of a sales commission management platform, raised $13M in Series A funding.
The round was led by Elevation Capital.
The company intends to use the funds to expand operations and its business reach.
Led by CEO Siva Rajamani and CTO Vivek Suriyamoorthy, Everstage is a modern sales commissions management platform for companies looking to automate their commissions process, with customers now across four continents. Sales reps also use Everstage to forecast potential earnings from their deals pipeline, thereby, helping companies drive sales performance and align on rep behavior. Everstage has added several novel features over the last year such as instant commissions on Slack, contract management and gamification of incentives. This follows a 6 months in which the company scaled the business with their revenue growing 5-fold while customer numbers have increased 6-fold. In August 2021, Everstage raised a $1.7M seed round from 3one4 Capital, who have doubled down on their investment in this round.
Before starting Everstage, Rajamani served as the head of business SaaS provider Freshworks’ global revenue operations team, working closely with sales representatives.