QuotaPath raises a $21.3M Series A
Today during closing week, our closing bell rings as we continue to bring in new customers. But we’re also celebrating a huge company milestone – the announcement of our $21.3 million Series A!
The round is led by Insight Partners, which has made over 400 investments with notable portfolio companies like SalesLoft, Pipedrive, monday.com, SetSail, and Showpad. Stage 2 Capital, HubSpot Ventures, Integr8ted Capital, and ATX Venture Partners – both new and existing investors – have also participated in the round. Additionally, we have 50 of the very best revenue leaders already involved in QuotaPath as investors and advisors.
We have so much support behind us to help transform the way organizations think about and engage with commissions.
The journey: where we’re headed
Just like closing a deal, there are a lot of moving parts when building a great company. And for the last 3.5 years, our co-founders AJ, Cole, and Eric have led the team as we help companies build and scale high-performing growth teams.
We’ve accomplished a lot. We’ve built native integrations with three of the industry’s leading CRMs: Salesforce, HubSpot, and Close.com. We’ve landed a >75 NPS with our customers. G2 named us a top 50 sales product this year. We’ve pivoted to a remote workforce due to COVID without missing a beat. And we’ve grown our revenue 600% in 2021. With the recent raise, we’ve reflected on where we are and where we’re headed.
To quote AJ, “The difference between a good company and an outstanding company starts with its people.” We’ve hired over 25 extremely talented folks in every department, from engineering to customer success. We’ve tripled our sales team this year alone and have made executive hires in marketing and finance. We live out our core values of Empathy, Trust, and Inclusion and push ourselves and each other to solve the pain point of commissions in innovative ways. We recently made Philadelphia’s Best Places to Work list. With our new funding, we have plans to double our team by the end of the year.
As a product-led company, we are total nerds when it comes to building a product that creates more simplicity, efficiency, and accuracy in the commission process. This means helping companies move out of spreadsheets and into an automated solution. And supporting every stakeholder involved in commissions – commission and attainment tracking for sales reps and managers, deal auditing for sales and revenue operations, and payouts for finance and HR. With more funding, you can expect to see new integrations (think accounting and payroll software), and continued investment in the customer journey and delight for the end user.
We’re all about creating raving fans through quick onboarding times, instant access to performance metrics, more rep motivation, and a tool that’s easy and enjoyable to use. Today we have over 6,000 users – from sales reps to finance teams – tracking and running commissions using QuotaPath. Organizations can get up and running in just a few days and don’t have to pay extra for dedicated support. That’s one of the reasons our customers love using us so much. That and the ability to build custom comp plans without having to use formulas.
In a recent customer survey, we found that we save companies on average 60 minutes per rep in running commissions each month! We’ll keep pushing the needle when it comes to streamlining workflows, aligning teams, and surfacing reliable data.
We’re full steam ahead. For those who have been on the journey with us, we appreciate you and thank you for your support. If you’d like to get involved, please contact us or try QuotaPath for free.
And you can read more about our story in TechCrunch.