QuotaPath Secures $ 21.3 Million Series A To Transform Sales Commission Landscape
PHILADELPHIA CREAM and AUSTIN, Texas, July 28, 2021 / PRNewswire / – QuotaPath, a leading commission tracking solution for the sales and revenue teams, obtained $ 21.3 million in Series A funding. The round is led by a global venture capital and private equity firm, Insight Partners, with participation from existing seed investors ATX Ventures, Integr8d Capital, Stage 2 Capital and HubSpot Ventures , bringing the total funding to date to $ 26.3M. QuotaPath has experienced 5x more revenue growth since January 2021, serving companies like Guru, Contractbook and OSG.
Founded in 2018 by AJ Bruno, Cole evett, and Eric Heydenberk, QuotaPath aims to help companies build and develop motivated, high performing growth teams. QuotaPath enables teams to streamline the commission process, avoid inaccurate budgets, incorrect payments, and unhappy salespeople due to poor planning, reporting, and administration of sales commissions. With rep-centric dashboards and real-time CRM integrations with Salesforce, HubSpot, and Close.com, sales reps and leaders gain a better understanding of their revenue and meeting their quotas. With frictionless integration and a formula-free commission plan setup, teams are up and running in days with instant access to powerful insights.
“The partnerships we have forged through this Series A investment provide us with world-class investors, as well as the resources to continue to invest in the way we serve our customers,” said AJ Bruno, CEO of QuotaPath. “This collective group of investors brings the perfect balance of industry knowledge, category transformation and market leadership to help QuotaPath take our growth path to the next level. ”
The last round of funding will allow QuotaPath to double its staff by Philadelphia cream, Austin, and remote sites, develop partnerships across the sales ecosystem and enhance its product offerings for Finance and HR functions, with features such as ASC 606 and payroll integrations.
“QuotaPath is transforming the process of designing and deploying compensation plans in a way that is accessible to any global organization,” said Rachel Geller, Managing Director of Insight Partners, who is joining QuotaPath’s board of directors. “With best-in-class NPS of 75 and strong customer loyalty, customers have been delighted with the ease of use and rapid deployment of QuotaPath in their organizations. We are delighted to welcome AJ and the QuotaPath team to the Insight portfolio as they continue to increase their primary commission. tracking platform. ”
The new funding will also allow QuotaPath to continue to collaborate with like-minded sales organizations and community-driven spaces, such as current partner Pavilion (formerly Revenue Collective). “Now more than ever, companies are joining forces to have an impact on revenue generation. We are partnering with other forward-thinking companies to make commissions a strategic pillar of an organization, instead of a point. painful “, said Carrie Fisher, QuotaPath’s latest Marketing Director hire.
“We are thrilled to be an investor and look forward to continuing to support QuotaPath as they empower both sales reps and executives, as well as finance and human resources with their unique bottom-up approach to commissions. sale ”, adds Marc Roberge, co-founder of Stage 2 Capital.
QuotaPath’s product fits into the entire sales movement:
- Commission monitoring: Dashboards shared between representatives and managers make it possible to visualize income and monitor the achievement of quotas and team objectives. Sales reps can stay motivated with pipeline forecasting and understand the why of their commissions.
- Compensation management: Administrators can design compensation plans from scratch or using over 20 templates. They can easily distribute plans to the right team members and instantly extract transaction data with integrations.
- Payments: Designed for finance, accounting, operations and human resources teams to audit and approve revenue, create payment rules and schedules, and export revenue data to payroll software.
“I looked at all the other tools and they all required formulas – QuotaPath has the simplest user interface and the construction plans are very straightforward. If I wanted to use formulas I would just use Excel,” a declared Chris Federspiel, CEO of Blackthorn.
QuotaPath was elected G2 Top 50 products for sale in 2021 and earned the “Easiest Install” badge for its formula-free way of setting up and managing sales commission plans. Currently, over 5,000 sales reps use QuotaPath, and the number is growing every week.
QuotaPath strengthens and aligns sales organizations. Teams across industries use QuotaPath’s diverse feature set to measure performance and drive consistent ROI. As a product-driven organization, QuotaPath is dedicated to creating a beautiful and simple tool that makes it easy to calculate commissions and track quota achievement. Founded in 2018, QuotaPath is headquartered in Philadelphia, Pennsylvania and Austin, Texas. For more information visit quotapath.com or @QuotaPath on LinkedIn and Twitter.
About Insight Partners
Insight Partners is a leading global venture and private equity firm investing in high growth ScaleUp technology and software companies driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies around the world and has raised more than $ 30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with hands-on and hands-on software expertise to drive long-term success. Through its people and portfolio, Insight fosters a culture around the belief that ScaleUp businesses and growth create opportunity for all. For more information on Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
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