B2B SaaS Startup ElevateHQ Raises $1.1 Million In Funding
ElevateHQ, a B2B software service provider, has raised $1.1 million in a funding round led by Leo Capital. Veda VC, PointOne Capital, and 100X Entrepreneurs also participated in the funding round.
As per the startup, the raised funds will be deployed towards the acquisition of talent, strengthening the product further, and making further inroads in North America.
ElevateHQ | Sales Commissions Software
Founded by Apoorv Singh and Kartik Arora in 2021, ElevateHQ is a sales commission software built for growing sales teams. The India and Singapore-based firm is helping companies motivate their sales teams and drive performance through its sales commission automation platform.
Speaking on the development, Apoorv Singh, Co-founder of ElevateHQ, said,
“Our product eliminates the grunt work, ambiguity and errors associated with manual commission calculation and allows businesses to use incentives as a sales enabler rather than a chore. Our goal is simple, we want to normalize transparent, real-time commissions for sales teams.”
The B2B SaaS company is re-imagining how companies use sales incentives to motivate their employee and focuses on serving diverse customers so the product could mature over a wide range of commission plans, team sizes and structures. ElevateHQ plans to capitalize on this strength and increase its customer base 10X over the next year.
Commenting on the development, Dinesh Singh, Partner, Leo Capital, said,
“Sales enablement tools are becoming increasingly popular around the world, and sales commissions are becoming an essential component of this stack. ElevateHQ is uniquely positioned to serve global customers.”
The startup has automated sales commissions across industries, including pharma, insurance, education, services, and software-as-a-service (SaaS), serving dozens of customers across the USA, Europe, and Asia. Few of its customers include Airmeet, Edgepetrol, Vymo, Mercer-Mettl, LeverageEdu, FreshConsulting, Horangi, and ESCO.