VC Fund Investments
Sales SaaS firm Everstage raises $13-M Series A from Elevation Capital, others
Co. Announcement Business Line
Everstage, a Chennai- and Delaware (USA)-based SaaS company that provides a sales commission management platform, has raised USD 13 million in Series A funding led by Elevation Capital with participation from existing investor 3one4 Capital. Everstage plans to use the new funds to further expand its sales, engineering and solutions teams. The 50-member team is expected to grow 3x by the end of the year. Founded in 2020, the company automates the sales commission processes in companies to drive the performance of their customer executives. It now has customers across four continents. Everstage co-founder & CEO Siva Rajamani formerly ran the revenue operations globally at the now Nasdaq-listed Freshworks. Within six months from the previous round, the company has grown 5x in revenue and 6x in customer base. It counts Chargebee, Postman, Nitro, Hackerrank, Clevertap as customers.
From the Venture Intelligence PE-VC Deal Database: In Aug-21, Everstage had raised USD 1.7 million in seed funding led by 3one4 Capital, with participation from angels including Rippling co-founder Prasanna Sankar, Chargebee co-founders Krish Subramanian and Rajaraman Santhanam, Freshworks CRO Sidharth Malik, Conga CTO Koti Reddy, Ally.io CEO Vetri Vellore, Angellist India partner Utsav Somani, and Rfpio CEO Ganesh Shankar.
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