This post is by Mary Ann Azevedo from Fundings & Exits – TechCrunch
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.
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...)