CaptivateIQ Captures $100 Million Series C

<p><strong><span class&equals;"xn-location">SAN FRANCISCO<&sol;span><&sol;strong> &&num;8212&semi; CaptivateIQ&comma; a developer of <u>sales commission software<&sol;u>&comma; has raised <span class&equals;"xn-money">&dollar;100 million<&sol;span> in Series C financing led by ICONIQ Growth&comma; Accel and Sequoia&comma; with Sapphire also joining as a new investor this round&period; CaptivateIQ is a provider of Incentive Compensation Management solutions that makes sales commissions easy to track and manage with automated and flexible workflows&period;<&sol;p>&NewLine;<p>The company says it has more than tripled its revenue compared to the year prior&period; Customers include Amplitude&comma; ClassPass&comma; Gong&comma; and Grammarly&period; In 2021&comma; the company raised a Series B for <span class&equals;"xn-money">&dollar;46 million<&sol;span>&comma; bringing total funding to date to <span class&equals;"xn-money">&dollar;164&period;6 million<&sol;span> at a post-money valuation of <span class&equals;"xn-money">&dollar;1&period;25 billion<&sol;span>&period;<&sol;p>&NewLine;<p>CaptivateIQ plans to use this investment to continue the development of the core product features that further empower everyone involved in the commission process – finance&comma; operations and sales teams – to better adapt to change and more easily tailor plans&comma; workflows and outcomes to meet the unique needs of their business&period; The company also intends to fuel hiring across all teams including engineering&comma; product and design and sales and marketing&period;<&sol;p>&NewLine;<p>&&num;8220&semi;Companies are embracing the power of incentives&comma; as evidenced by our overall revenue and customer growth&comma; as a way to keep employees engaged and motivated in this new era of work&comma;&&num;8221&semi; said <span class&equals;"xn-person">Mark Schopmeyer<&sol;span>&comma; co-CEO and co-founder of CaptivateIQ&period; &&num;8220&semi;We&&num;8217&semi;re honored to have incredible customers&comma; world-class investors and supportive partners who believe in our mission to make incentive compensation management a strategic business advantage by fostering transparency&comma; job satisfaction and productivity&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;We process our monthly commission payouts 60 times faster with the CaptivateIQ platform without sacrificing accuracy for speed&comma;&&num;8221&semi; said <span class&equals;"xn-person">Bryan Bayless<&sol;span>&comma; vice president of revenue operations at Gong&period; &&num;8220&semi;Through its flexibility&comma; transparency and automation&comma; CaptivateIQ has become an essential partner in scaling revenue operations for our fast-growing sales organization&period;&&num;8221&semi;<&sol;p>&NewLine;<p>&&num;8220&semi;With the CaptivateIQ leadership team&&num;8217&semi;s strong background in finance and direct experience managing commissions in prior roles&comma; they have an intrinsic understanding of the challenges faced by revenue leaders and commissions administrators&comma;&&num;8221&semi; said <span class&equals;"xn-person">Doug Pepper<&sol;span>&comma; general partner at ICONIQ Growth&period; &&num;8220&semi;CaptivateIQ has set the new standard in commission management&comma; and we are thrilled to support them in advancing their leadership of this new category&period;&&num;8221&semi;<&sol;p>&NewLine;<p>CaptivateIQ is the most flexible compensation platform&comma; empowering customers to sync their data&comma; design any plan and build workflows that work best for their business&period; With its logic-based modeling and robust reporting&comma; teams on CaptivateIQ are more productive and can iterate with confidence to achieve their revenue goals&period; Built-in collaboration and reporting tools enable seamless communications between sales professionals and compensation plan administrators&period;<&sol;p>&NewLine;