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Everstage, a Delaware and Chennai-based software-as-a-service (SaaS) start-up, has raised $1.7 million in seed funding led by 3one4 Capital.
The round also saw participation of several prominent angels including Prasanna Sankar, co-founder of Rippling; Krish Subramanian and Rajaraman Santhanam, co-founders of Chargebee; Sidharth Malik, CRO of Freshworks; Koti Reddy, CTO of Conga; Vetri Vellore, CEO of Ally.io; Utsav Somani, Partner at Angellist India; Ganesh Shankar, CEO of Rfpio among others.
The company intends to use the funds for team expansion and B2B focused marketing initiatives.
Everstage was founded in 2020 by Siva Rajamani (formerly at Freshworks) and Vivek Suriyamoorthy (previously with DE Shaw). The B2B start-up helps companies drive performance of their customer-facing teams through its no-code sales commission automation platform. Some of its early customers include SaaS unicorns and high-performing companies such as Chargebee, Postman & Lambdatest.
“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,” Siva Rajamani, Co-founder CEO, Everstage was quoted in a press release.
Everstage was launched to address this gap as they have built a platform which fully integrates quota and commissions management platform, with a no-code plan designer offering complete flexibility to Ops and Finance teams while gamifying the entire commission’s experience for customer-facing teams.
Over the next 12 months, Everstage plans to grow their customer base by 20 times. It also plans to launch its operations at a much larger scale in the US in the next 12 months.
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