SaaS Startup Everstage Raises $13 Million In Series A Funding
Everstage, a Chennai and Delaware-based SaaS company, has raised $13 million in a Series A funding round from VC firm Elevation Capital, with participation from existing investor 3one4 Capital.
As per the startup, the freshly raised funds will be used to further expand the sales, engineering and solutions teams to serve customers worldwide. The startup also plans to grow its 50-member team by 3x to 150 members by the end of the year.
Everstage | No-code Commissions Automation Platform
Founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy, Everstage is a no-code commissions automation platform that removes recurring busywork from Ops and Finance teams and provides a transparent and gamified incentives experience to customer-facing teams.
Speaking about the development, Siva Rajamani, CEO & Co-founder of Everstage, said,
“A lot of the hiring will happen in Chennai, which is where we are primarily based. But as we are building for the world, we will cover across regions and geographies. So major part of investment is going to go in hiring while brand building and marketing will be the other areas to support international customer base.”
From its previous funding round, just six months ago, Everstage claims to have grown by 5X in revenue and 6X in customer base. Currently, Everstage has customers across four continents, including the likes of Postman, Nitro, Chargebee, Hackerrank, and Clevertap.
Akarsh Shrivastava, Principal at Elevation Capital, stated that he is excited to back the Everstage team as they build the RevOps platform of the future.
Akarsh said,
“With ever-increasing data on GTM motions, companies are constantly looking to design creative incentive plans to drive sales performance. Everstage elegantly allows companies to design and manage even the most complex plans while ensuring a modern UI/UX and a consumer app like experience.”
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