BENGALURU: Chennai and Delaware-based software-as-a-service (SaaS) startup Everstage has raised $13 million in a funding round led by Elevation Capital, with participation from existing investor 3one4 Capital, the company said.
Everstage plans to use the funds to further expand its sales, engineering and solutions teams. The 50-man squad is expected to triple by the end of the year.
Founded in 2020 by Shiva Rajamani and Vivek Suryamurthy, Everstage is a platform that automates sales commission processes for companies.
It currently has customers in four continents and its clients include companies such as Chargebee, Postman, Nitro, HackerRank and CleverTap.
Rajamani, Co-Founder, Everstage said, “We started Everstage because we have identified a number of issues with existing legacy sales commission vendors in the market.
The market need was clear — customers wanted to install and use a product that was high on the running configuration, he said.
Previously, Everstage had raised $1.7 million in a seed funding round led by 3one4 Capital and others.
“Everstage allows companies to design and manage the most complex plans while ensuring a modern user interface and user experience and consumer app-like experience. This is currently missing from legacy vendors’ value chains,” said Aakash Srivastava, principal at Elevation Capital. he said.
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