The funding is an endorsement of Enfusion’s pioneering cloud-native SaaS approach to breaking technological barriers and removing informational and operational constraints for its investment management clients. Read More: GlobalFintechSeries Interview with John Dangoia, VP and Head of Product Management at Infosys Finacle
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And Softr, a Berlin-based startup that lets customers build apps atop Airtable databases, recently raised $13.5 million in a Series A round.Enfusion, a global leader in investment management technology solutions and services, announced that it has received a $150 million minority investment from ICONIQ Growth. Last week, Walnut, a company that creates sales and marketing demo experiences, announced a $35 million Series B financing. “At the same time, the product strategically preserves familiar features of spreadsheets that makes using the platform highly intuitive to users.”
“ Unlike spreadsheets and legacy solutions, CaptivateIQ is extremely powerful and flexible, capable of adapting to diverse compensation plans and sales organizations as these organizations scale,” he wrote via email. Speaking of which, CaptivateIQ has more than 200 employees, up from about 90 at the time of its Series B in April of 2021.įor his part, ICONIQ Growth General Partner Doug Pepper believes the market opportunity in sales commissions is “enormous.” Those legacy solutions, Schopmeyer contends, can only handle specific types of commission plans and require users to learn “arcane” programming languages.ĬaptivateIQ raises $46M for its no-code sales commissions platformįor now, the company is in growth mode and focused on investing in the product, R&D and “building a great team,” Schopmeyer said. “However, managing commissions is difficult, and companies have been forced to choose between two suboptimal choices for the process - manual, opaque and error-prone spreadsheets or rigid and costly legacy solutions.” “Sales compensation represents the single largest go-to-market investment for most B2B companies, making commissions a mission-critical process for businesses,” he said. In a nutshell, CaptivateIQ is part of a new wave of Incentive Compensation Management (ICM) solutions that have sprung up in recent years to help companies automate and improve the “complex” task of designing, processing and reporting commissions, according to Mark Schopmeyer, co-founder and co-CEO. Sapphire Ventures also joined as a new investor in the financing, which brings the company’s total funding raised to date to $164.6 million.ĬaptivateIQ’s customer base includes “hundreds of organizations across industries and continents,” including more than a quarter of the Forbes’ Cloud 100 and Affirm, Amplitude, ClassPass and Podium.ĬaptivateIQ was founded in the winter of 2017 and came from Y Combinator’s Winter 2018 batch. The San Francisco-based startup, which has developed a no-code SaaS platform to help companies design customized sales commission plans, says it “more than tripled” its revenue compared to the year prior, although it declined to provide hard revenue figures.Ī trio of firms co-led CaptivateIQ’s latest investment, including ICONIQ Growth and existing backers Sequoia and Accel.
Less than 10 months after raising a $46 million Series B, CaptivateIQ announced today that it has raised $100 million in a Series C round at a $1.25 billion valuation.
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