Everstage secures USD $30m in Series B funding round

Everstage has announced a successful completion of its Series B funding round, raising USD $30 million, with lead participation from Eight Roads Ventures.

Founded in 2020, Everstage has quickly become known for its sales commissions management platform, achieving a year-on-year growth rate of 300%. The company is trusted by several global Fortune 1000, publicly-listed companies and large enterprises, such as GrayTV, Wiley, Diligent, Trimble, and Paychex.

The platform's core capability, Crystal, enables real-time commission forecasting, allowing sales teams to anticipate their earnings and mitigate financial uncertainty, thereby enhancing motivation. Complementing this is Everstage's business intelligence-powered reporting and analytics that provide valuable insights for driving profitable growth through sales compensation.

With a funding total of USD $45 million to date, Everstage's latest capital injection aims to enhance product capabilities and professional services. The company plans to launch an AI Agent Creation Studio that will assist Revenue Operations professionals in building AI agents for sales performance analysis and plan creation.

Siva Rajamani, Co-founder and CEO of Everstage, stated, "Our Series B is not just about growth; it's about a long-term commitment to our customers. In a market dominated by traditional vendors, we've questioned the status quo by offering a modern, strategic approach to sales performance management. This investment will allow us to double down on product innovation and elevate our customer experience with the highest standard of service, unlike anything the market has seen before."

Aditya Systla, Partner at Eight Roads Ventures, expressed enthusiasm for the partnership, saying, "Everstage's modular product helps organizations dynamically manage their evolving Sales Performance Management needs and align frontline teams with broader organization goals. Customers consistently expressed their appreciation for the product's simplicity and intuitive design, which significantly shortens the time to value. We are excited to partner with Siva and Vivek, who have assembled a strong team with extensive experience in Revenue Operations. Together, we share a unified vision of creating a customer-first sales performance management platform that delivers real impact."

Everstage's customer base spans various industry verticals, including technology, manufacturing, and financial services. Jose Aleman, VP of Commercial Operations at Diligent, attested to the company's impact, stating, "Our move to Everstage was one of the best decisions we've made. Working with Everstage has been a great experience. They've delivered on every promise, and we're 110% satisfied with what we've achieved so far. We're excited for what the future holds."

The company's software has already aided customers like Monex, which used Everstage's dashboards to drive peak sales performance, and Postman, which saw a twofold increase in multi-year deals. Nitro streamlined its incentive programmes for over 100 payees with one administrator, Popmenu upgraded its sales performance and returns from legacy software, and Chargebee improved commission management for over 300 sales reps across 50 teams.

In its bid to ensure customer success, Everstage recently appointed Kelly McGuire as VP of Customer Success to bolster customer experience based on her extensive background from firms like Glassdoor and Sisense.