![]() “Sales compensation represents the single largest go-to-market investment for most B2B companies, making commissions a mission-critical process for businesses,” he said. In a nutshell, CaptivateIQ is part of a new wave of Incentive Compensation Management (ICM) solutions that have sprung up in recent years to help companies automate and improve the “complex” task of designing, processing and reporting commissions, according to Mark Schopmeyer, co-founder and co-CEO. Sapphire Ventures also joined as a new investor in the financing, which brings the company’s total funding raised to date to $164.6 million.ĬaptivateIQ’s customer base includes “hundreds of organizations across industries and continents,” including more than a quarter of the Forbes’ Cloud 100 and Affirm, Amplitude, ClassPass and Podium.ĬaptivateIQ was founded in the winter of 2017 and came from Y Combinator’s Winter 2018 batch. The San Francisco-based startup, which has developed a no-code SaaS platform to help companies design customized sales commission plans, says it “more than tripled” its revenue compared to the year prior, although it declined to provide hard revenue figures.Ī trio of firms co-led CaptivateIQ’s latest investment, including ICONIQ Growth and existing backers Sequoia and Accel. Built-in collaboration and reporting tools enable seamless communications between sales professionals and compensation plan administrators.Less than 10 months after raising a $46 million Series B, CaptivateIQ announced today that it has raised $100 million in a Series C round at a $1.25 billion valuation. With its logic-based modeling and robust reporting, teams on CaptivateIQ are more productive and can iterate with confidence to achieve their revenue goals. ![]() “CaptivateIQ has set the new standard in commission management, and we are thrilled to support them in advancing their leadership of this new category.”ĬaptivateIQ is the most flexible compensation platform, empowering customers to sync their data, design any plan and build workflows that work best for their business. “With the CaptivateIQ leadership team’s strong background in finance and direct experience managing commissions in prior roles, they have an intrinsic understanding of the challenges faced by revenue leaders and commissions administrators,” said Doug Pepper, general partner at ICONIQ Growth. “Through its flexibility, transparency and automation, CaptivateIQ has become an essential partner in scaling revenue operations for our fast-growing sales organization.” “We process our monthly commission payouts 60 times faster with the CaptivateIQ platform without sacrificing accuracy for speed,” said Bryan Bayless, vice president of revenue operations at Gong. HR Technology News: To Focus On Customer Service and Integration of Clients, HR Service Partners Appoints New Executive Roles “We’re honored to have incredible customers, world-class investors and supportive partners who believe in our mission to make incentive compensation management a strategic business advantage by fostering transparency, job satisfaction and productivity.” “Companies are embracing the power of incentives, as evidenced by our overall revenue and customer growth, as a way to keep employees engaged and motivated in this new era of work,” said Mark Schopmeyer, co-CEO and co-founder of CaptivateIQ. The company also intends to fuel hiring across all teams including engineering, product and design and sales and marketing. ![]() The company plans to use this investment to continue the development of the core product features that further empower everyone involved in the commission process – finance, operations and sales teams – to better adapt to change and more easily tailor plans, workflows and outcomes to meet the unique needs of their business. HR Technology News: Asia’s Leading HR Technology Platform Darwinbox Raises $72 Million Funding Led by TCV at $1 Billion+ Valuation In 2021, the company raised a Series B for $46 million, bringing total funding to date to $164.6 million at a post-money valuation of $1.25 billion. Today, CaptivateIQ fuels high-performing revenue teams, including those at companies like Amplitude, ClassPass, Gong, and Grammarly. This investment comes at a time of great momentum for the company, having more than tripled its revenue compared to the year prior. CaptivateIQ is the leader of an emerging class of Incentive Compensation Management solutions that makes sales commissions easy to track and manage with automated and flexible workflows.
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