Total amount raised
$164.6 Millions
Latest funding date
1/1/2022
Location
CaptivateIQ has successfully raised significant funding through multiple rounds, with the latest being a Series C round. The platform specializes in sales commission management, offering tools to automate commissions and improve sales performance.
Keep reading to explore the intricacies of CaptivateIQ's fundraising journey and the investors backing this innovative platform.
What Is CaptivateIQ?
Founded in 2017, CaptivateIQ is based in San Francisco, California. The company was established by Conway Teng, Hubert Wong, and Mark Schopmeyer.
CaptivateIQ specializes in sales commission management, offering a platform that automates commission calculations and provides insights to improve sales performance. Their solutions are designed to save time and reduce errors, making commissions clear and accurate.
With a team of 251-500 employees, CaptivateIQ continues to innovate in the field of sales performance management, helping businesses design effective incentive plans to motivate their teams.
How Much Funding Has CaptivateIQ Raised?
- Pre-Seed Round
- Amount Raised: $120K
- Date: January 2018
- Lead Investors: Y Combinator
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of their sales commission management platform.
- Seed Round
- Amount Raised: $3.5M
- Date: March 2018
- Lead Investors: Amity Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand the team.
- Series A
- Amount Raised: $13M
- Date: May 2020
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and enhance product features.
- Series B
- Amount Raised: $48M
- Date: April 2021
- Lead Investors: Accel
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the company's growth and product development.
- Series C
- Amount Raised: $100M
- Date: January 2022
- Lead Investors: ICONIQ Growth, Sequoia Capital, Accel
- Valuation at Round: $1.25B
- Motivation Behind the Round: To invest in product development, R&D, and team building.
Total Amount Raised: $164.62M. Current Valuation: $1.25B.
Key Investors
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have a global presence with offices in Palo Alto, London, and Bangalore.
- Investment Focus Areas: Technology, internet, software.
- Notable Investments: Facebook, Dropbox, Slack.
- ICONIQ Growth
- Details: ICONIQ Growth is a growth equity firm that focuses on investing in technology companies. They are known for their strategic partnerships and long-term investment approach.
- Investment Focus Areas: Technology, enterprise software, growth-stage companies.
- Notable Investments: Snowflake, Datadog, Uber.
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm that invests in seed, early, and growth-stage companies. They have a strong track record of backing industry-leading companies.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Apple, Google, Airbnb.
- Amity Ventures
- Details: Amity Ventures is a venture capital firm that invests in early-stage technology companies. They focus on partnering with visionary entrepreneurs to build transformative companies.
- Investment Focus Areas: Technology, software.
- Notable Investments: Not publicly disclosed.
- Y Combinator
- Details: Y Combinator is a startup accelerator that provides seed funding for early-stage startups. They have a rigorous selection process and offer extensive support to their portfolio companies.
- Investment Focus Areas: Various sectors, primarily technology and software.
- Notable Investments: Airbnb, Dropbox, Stripe.
What's Next for CaptivateIQ?
CaptivateIQ stands at the cusp of a significant opportunity in the Incentive Compensation Management (ICM) market. With a flexible, scalable platform, the company is well-positioned to capture a substantial share of this multi-billion dollar market. The rise of no-code solutions and the increasing need for automated, adaptable workflows in sales compensation further amplify this potential.
Future fundraising rounds seem likely as CaptivateIQ continues to grow and innovate. The company's focus on product development and team expansion indicates ongoing capital needs, which could be met through additional venture capital rounds or even an eventual IPO. However, challenges such as maintaining rapid growth, ensuring product development keeps pace with market demands, and managing competition in the ICM space will need to be navigated carefully.
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