A message from CEO and Co-Founder AJ Bruno regarding the QuotaPath Series B announcement.
Today, we’re excited to announce our $41 million Series B, led by Tribe Capital!
Before we dive into the specifics of the announcement, I wanted to share a few thoughts on what this funding means to us and what we’re building at QuotaPath.
First, Tribe Capital has a reputation for investing in companies that embrace and execute successful product-led growth models. This means the product steers an organization’s go-to-market strategy, and it’s been our approach since our 2018 inception.
Tribe also packs a ton of sales experience, especially Sri Pangulur, who has served in executive sales roles at companies like Cloudflare, Datacoral, and Trace Data, and who will join our board. Additionally, Tribe has a machine learning-focused fund that aligns with where we aim to take sales compensation management next.
It’s incredibly validating and exciting to have Tribe’s backing.
We have their confidence as the winners in the market. They trust the makeup and experience of our team and leaders. They believe in our point of view that sales reps should be excited about their comp plans and commissions (and that if they aren’t your team is doing it wrong).
I don’t know how else to say it other than it feels like we’re an unstoppable machine.
With this Series B, we will:
- Continue to work with talented individuals and build a culture that embodies mission, vision, learning, and growth, and in an environment where people enjoy working with one another.
- Develop a platform that thousands of go-to-market experts rely on for commission tracking and when they need help understanding how new roles and teams impact compensation and revenue growth.
- Double down on our differentiators that have captured the hearts of teams that previously used spreadsheets or other commission software.
Additional details of the funding are below, but I leave you with one of my favorite quotes:
“It’s about the Journey. Not the Destination.” We’re excited and thrilled to take this next step in our journey.
— AJ Bruno
Inside today’s announcement:
Tribe Capital joins our existing investor group of Insight Partners, ATX Venture Partners, Stage 2 Capital, and Integr8d Capital.
“Backing QuotaPath was an easy decision,” said Sri Pangulur, Partner at Tribe Capital, who will join our board. “As the only major player in the space with a product-led-growth sales motion, we believe QuotaPath can become the dominant commission tracking software for companies of all sizes while growing alongside its customer base.”
The funding comes 9 months following our Series A, in which we’ve since tripled our revenue and doubled our team.
Our goal remains to help reps and revenue leaders be more successful in their roles. When reps trust their comp plans and can visualize the impact of the next deal, we’ve seen that they sell more. (See: OSG, Blackthorn, Sapling.)
We will continue to automate commissions while branching out with new functionalities that support the entire compensation process.
For example, QuotaPath customers can expect to see new CRM, ERP, and payroll integrations. We’ll also drop additional compensation resources that ensure your team has the most impactful variable pay models in place. (Resources like our OTE:Ratio calculator that are free and open for anybody to use).
Our team of “Navigators” is growing, too. Our engineering and sales teams will see the most growth, yet every department will add roles. If you’re curious, empathetic, and interested in making a big splash in the sales compensation space, we want to hear from you! (To explore our open positions and learn more about our values, check out our careers page.)
Before we return to our usual programming, we’ll leave you with a few points of pride:
Where we stand out:
QuotaPath is the only sales compensation management platform that:
- Gives reps the ability to forecast future attainment
- Runs native CRM integrations for real-time visibility
- Offers free sales comp plan strategy consultations
- Does not require any type of coding or formula building
- Shares transparent pricing
- Charges zero implementation fees
- Onboards teams in days after signing (not months, like our competitors)
- Invites users to get started for free
Thank you to everyone who has joined us on this journey! To learn how QuotaPath can help your team get sales compensation right, book a time to chat with us.
