Total amount raised
$44.7 Million
Latest funding date
10/1/2024
Location
Everstage has successfully raised funding over three rounds, with the latest being a Series B round led by Eight Roads Ventures India. The company is backed by a total of 12 investors, including 3one4 Capital and Eight Roads Ventures India.
Everstage offers a no-code commissions automation tool designed to streamline sales management processes. Keep reading to explore the intricacies of Everstage's fundraising journey and the investors backing this innovative platform.
What Is Everstage?
Everstage is a private company based in New York, New York, specializing in no-code commissions automation tools. The company operates in the finance, sales, sales automation, and software industries.
With an employee count ranging from 251 to 500, Everstage provides a comprehensive platform for managing sales compensation and commission tracking. The software is designed to automate complex sales compensation plans, provide real-time visibility into earnings, and integrate seamlessly with other business systems.
Everstage emphasizes ease of use, scalability, and robust security, making it a preferred choice for businesses looking to optimize their sales compensation processes. The company also prides itself on excellent customer service and domain expertise.
How Much Funding Has Everstage Raised?
- Seed Round
- Amount Raised: USD 1,700,000
- Date: August 2021
- Lead Investors: 3one4 Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To address inefficiencies in sales commission management and expand operations in the US.
- Series A
- Amount Raised: USD 13,000,000
- Date: April 2022
- Lead Investors: Elevation Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and development of Everstage's sales management platform.
- Series B
- Amount Raised: USD 30,000,000
- Date: October 2024
- Lead Investors: Eight Roads Ventures India
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the platform and enhance product offerings.
Total Amount Raised: USD 45,000,000. Current Valuation: Not publicly disclosed.
Key Investors
- Eight Roads Ventures India
- Details: Eight Roads Ventures India is a global venture capital firm that invests in high-growth technology and healthcare companies. They led the Series B funding round for Everstage.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Icertis, Shadowfax, Whatfix.
- Elevation Capital
- Details: Elevation Capital is a venture capital firm that focuses on early-stage investments in India. They led the Series A funding round for Everstage.
- Investment Focus Areas: Consumer internet, SaaS, fintech.
- Notable Investments: Paytm, Swiggy, UrbanClap.
- 3one4 Capital
- Details: 3one4 Capital is an early-stage venture capital firm based in India. They led the seed funding round for Everstage.
- Investment Focus Areas: Technology, SaaS, fintech.
- Notable Investments: Licious, Darwinbox, Betterplace.
- Prasanna Sankar
- Details: Prasanna Sankar is the co-founder of Rippling, a company that provides HR and IT management software. He participated in the seed funding round for Everstage.
- Investment Focus Areas: HR software, IT management, SaaS.
- Notable Investments: Rippling.
- Krish Subramanian
- Details: Krish Subramanian is the co-founder of Chargebee, a subscription billing and revenue management platform. He participated in the seed funding round for Everstage.
- Investment Focus Areas: Subscription billing, revenue management, SaaS.
- Notable Investments: Chargebee.
What's Next for Everstage?
Everstage is poised for significant growth, with plans to expand its customer base by 20 times over the next year. The company aims to launch operations on a larger scale in the US, tapping into a major market for SaaS products. This expansion presents a substantial opportunity for Everstage to solidify its presence and drive revenue growth.
Given the ambitious growth plans and successful seed funding, future fundraising opportunities are likely. Additional funding rounds could support further expansion and scaling, enabling Everstage to enhance its platform capabilities and market reach. However, the company may face challenges such as competition from legacy vendors and new entrants, as well as the need to maintain service quality during rapid growth.
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