December 8, 2022

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Gross sales fee administration platform Everstage scoops up $13Mn in Collection A fundraise

With fee buildings turning into difficult by the day, gross sales groups usually don’t have an correct thought of what they’ve earned till they’re paid. Different challenges of their path embody completely different fee funds for several types of purchasers or contracts and shared commissions amongst groups and their managers.

That may make it very troublesome for each employers and workers to maintain monitor of what’s owed. That is the place SaaS startup and fee administration platform Everstage is available in, and now, it has pocketed $13 million in Collection A funding.

Everstage intends to deploy the contemporary funds in the direction of the enlargement of its gross sales, engineering, and options groups with a view to serve clients throughout the globe, and enhance its workforce by thrice to 150 members by the top of the 12 months.

Main VC agency Elevation Capital, which is a widely known title within the Indian investing and funding sport, led the Collection A spherical, which included participation from Everstage’s present investor 3one4 Capital.

The Collection A funding spherical comes after the $1.7 million it raised final 12 months in seed funding.

Since its inception two years in the past, the gross sales fee administration platform has successfully carved a distinct segment and shortly established itself as the very best vacation spot for corporations that intention to automate their fee course of. These corporations span throughout classes similar to know-how, enterprise providers, monetary providers, insurance coverage, well being tech, and logistics.

In truth, in simply 6 months from the earlier funding spherical, the startup clocked a development of 5 instances in income and 6 instances in buyer base. In the present day, its buyer base spans 4 continents – the US, Africa, Europe, and the Asia Pacific – and counts a number of identified corporations like Chargebee, Postman, Nitro, Hackerrank, and Clevertap.

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“We began Everstage as a result of we recognized a number of ache factors with the prevailing legacy gross sales fee distributors available in the market. The market want was clear – clients wished a simple to arrange and use product that was excessive on ongoing configurability. Our conviction for disrupting the market has solely gone up within the final one 12 months with the quantity of consumers selecting us over established gamers,” mentioned Siva Rajamani, co-founder and CEO of Everstage.