Everstage Raises $13 Million In Series A Funding From Elevation Capital

The fund will be utilised to expand the sales, engineering and solution teams to serve the global customer base

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Everstage, a SAAS company that provides a modern sales commission management platform, has secured $13 million in Series A funding from Elevation Capital. The funding round also witnessed participation from 3one4 Capital.

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"The market need was clear. Customers wanted an "easy to set up and use' product that has high ongoing configurability. Our conviction for disrupting the market has only gone up in the last one year with the amount of customers choosing us," said Siva Rajamani, co-founder and CEO, Everstage.

In just six months, Everstage has grown five times in revenue and six times in customer base. It has customers across four continents and counts companies like Chargebee, Postman, Nitro, Hackerrank and Clevertap as the customers, the company claimed in a statement.

"With ever increasing data on GTM motions, companies are constantly looking to design creative incentive plans to drive sales performance. Everstage allows the companies to design and manage these plans, while ensuring a consumer app like experience," said Akarsh Shrivastava, principal, Elevation Capital.

Founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy, Everstage automates the sales commission processes in companies to drive the performance of their customer executives. It is used by companies in verticals including tech, business services, financial services, health tech and logistics.