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QuotaPath raises $21.3M in Insight Partners-led round to help sales teams better track commissions

by Mary Ann Azevedo

QuotaPath, which has developed a commission-tracking solution for sales and revenue teams, has raised $21.3 million in a Series A funding round led by Insight Partners.

Existing backers ATX Ventures, Integr8d Capital, Stage 2 Capital and HubSpot Ventures also participated in the financing, which brings the startup’s total funding to $26.3 million since its 2018 inception.

The funding comes amid a year of growth for the startup, which has dual headquarters in Austin and Philadelphia. Specifically, QuotaPath has seen 600% revenue growth since January 2021. It has over 5,000 users on the platform, 40% of which are paid. Customers include Guru, Contractbook, Mailgun, Cloud Academy, SaaSOptics and OSG.

AJ Bruno, Cole Evetts and Eric Heydenberk founded QuotaPath with the mission of helping “companies build and scale high-performing, motivated growth teams.” The startup said it gives teams a way to streamline the commission process and avoid inaccurate budgets, incorrect payouts, and “unhappy sales reps due to poor sales commission planning, reporting and administration.”

Through real-time CRM integrations with Salesforce, HubSpot and Close.com, sales reps are able to glean more insight into earnings and quota attainment, the company said.

6 VCs talk the future of Austin’s exploding startup ecosystem

Bruno is no stranger to startups, having co-founded Austin-based PR analytics company TrendKite, which sold to rival Cision in 2019 for $225 million. It was there that Bruno ran the sales and management teams, and about “30 folks into it,” was having some issues with compensation and commission. It took a month (Read more...)

More funding flows into Pipe, as buzzy fintech raises $250M at a $2B valuation

by Mary Ann Azevedo

At the end of March, TechCrunch reported that buzzy startup Pipe — which aims to be the “Nasdaq for revenue” — had raised $150 million in a round of funding that values the fintech at $2 billion.

Well, that deal has closed and in the end, Miami-based Pipe confirms that it has actually raised $250 million at a $2 billion valuation in a round that was “massively oversubscribed,” according to co-founder and co-CEO Harry Hurst.

“We had originally allocated $150 million for the round, but capped it at $250 million although we could have raised significantly more,” he told TechCrunch.

As we previously reported, Baltimore, Maryland-based Greenspring Associates led the round, which included participation from new investors Morgan Stanley’s Counterpoint Global, CreditEase FinTech Investment Fund, Fin VC, 3L and Japan’s SBI Investment. Existing backers such as Next47, Marc Benioff, Alexis Ohanian’s Seven Seven Six, MaC  Ventures and Republic also put money in the latest financing.

The investment comes about 2 ½ months after Pipe raised $50 million in “strategic equity funding” from a slew of high-profile investors such as Siemens’ Next47 and Jim Pallotta’s Raptor Group, Shopify, Slack, HubSpot, Okta and Social Capital’s Chamath Palihapitiya. With this latest round, Pipe has now raised about $316 million in total capital. The new funding was raised at “a significant step up in valuation” from the company’s last raise.

Pipe, which aims to be the ‘Nasdaq for revenue,’ raises more money at a $2B valuation

As a journalist who first covered Pipe (Read more...)

Pipe, which aims to be the ‘Nasdaq for revenue,’ raises more money at a $2B valuation

by Mary Ann Azevedo

Fast-growing fintech Pipe has raised another round of funding at a $2 billion valuation, just weeks after raising $50M in growth funding, according to sources familiar with the deal.

Although the round is still ongoing, Pipe has reportedly raised $150 million in a “massively oversubscribed” round led by Baltimore, Md.-based Greenspring Associates. While the company has signed a term sheet, more money could still come in, according to the source. Both new and existing investors have participated in the fundraise.

The increase in valuation is “a significant step up” from the company’s last raise. Pipe — which only launched its platform last June — has declined to comment on the deal.

A little over one year ago, Pipe raised a $6 million seed round led by Craft Ventures to help it pursue its mission of giving SaaS companies a funding alternative outside of equity or venture debt.

The buzzy startup’s goal with the money was to give SaaS companies a way to get their revenue upfront, by pairing them with investors on a marketplace that pays a discounted rate for the annual value of those contracts. (Pipe describes its buy-side participants as “a vetted group of financial institutions and banks.”)

Just a few weeks ago, Miami-based Pipe announced a new raise — $50 million in “strategic equity funding” from a slew of high-profile investors. Siemens’ Next47 and Jim Pallotta’s Raptor Group co-led the round, which also included participation from Shopify, Slack, HubSpot, Okta, Social Capital’s Chamath Palihapitiya, Marc Benioff, (Read more...)