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HomeStartupCaptivateIQ raises $100M at a $1.25B valuation to assist firms design custom-made...

CaptivateIQ raises $100M at a $1.25B valuation to assist firms design custom-made gross sales fee plans – TechCrunch


Lower than 10 months after elevating a $46 million Collection B, CaptivateIQ introduced right this moment that it has raised $100 million in a Collection C spherical at a $1.25 billion valuation.

The San Francisco-based startup, which has developed a no-code SaaS platform to assist firms design custom-made gross sales fee plans, says it “greater than tripled” its income in comparison with the yr prior, though it declined to offer exhausting income figures. 

A trio of corporations co-led CaptivateIQ’s newest funding, together with ICONIQ Development and current backers Sequoia and Accel. Sapphire Ventures additionally joined as a brand new investor within the financing, which brings the corporate’s whole funding raised to this point to $164.6 million.

CaptivateIQ’s buyer base contains “lots of of organizations throughout industries and continents,” together with greater than 1 / 4 of the Forbes’ Cloud 100 and Affirm, Amplitude, ClassPass and Podium.

CaptivateIQ was based within the winter of 2017 and got here from Y Combinator’s Winter 2018 batch. In a nutshell, CaptivateIQ is a part of a brand new wave of Incentive Compensation Administration (ICM) options which have sprung up lately to assist firms automate and enhance the “advanced” activity of designing, processing and reporting commissions, in accordance with Mark Schopmeyer, co-founder and co-CEO.

“Gross sales compensation represents the one largest go-to-market funding for many B2B firms, making commissions a mission-critical course of for companies,” he stated. “Nevertheless, managing commissions is troublesome, and corporations have been compelled to decide on between two suboptimal decisions for the method — guide, opaque and error-prone spreadsheets or inflexible and dear legacy options.”

These legacy options, Schopmeyer contends, can solely deal with particular forms of fee plans and require customers to study “arcane” programming languages.

“They’re additionally usually value prohibitive with implementation charges within the six-figure vary,” he stated.

Picture Credit: CaptivateIQ

In his view, CaptivateIQ alleviates these ache factors by taking the pliability of spreadsheets and mixing it with the scalability and efficiency of software program know-how to configure commissions plans with minimal help. 

“Calculating commissions is de facto difficult and mission-critical — consider it like a really difficult type of payroll — every firm has a novel fee plan that includes much more calculations and information than your typical wage payroll math,” co-CEO Conway Teng instructed me on the time of the corporate’s final increase. “Additionally, lately, firms have entry to extra information than ever, giving them room to incentivize workers on extra efficiency metrics.”

For now, the corporate is in progress mode and centered on investing within the product, R&D and “constructing an incredible crew,” Schopmeyer stated.

Talking of which, CaptivateIQ has greater than 200 workers, up from about 90 on the time of its Collection B in April of 2021.

For his half, ICONIQ Development Normal Accomplice Doug Pepper believes the market alternative in gross sales commissions is “monumental.”

In contrast to spreadsheets and legacy options, CaptivateIQ is extraordinarily highly effective and versatile, able to adapting to numerous compensation plans and gross sales organizations as these organizations scale,” he wrote by way of electronic mail. “On the similar time, the product strategically preserves acquainted options of spreadsheets that makes utilizing the platform extremely intuitive to customers.”

No-code is having a second. Final week, Walnut, an organization that creates gross sales and advertising and marketing demo experiences, introduced a $35 million Collection B financing. And Softr, a Berlin-based startup that lets clients construct apps atop Airtable databases, not too long ago raised $13.5 million in a Collection A spherical.

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