CaptivateIQ plans to use the funding to support R&D efforts. Here are the top-line bullets you need to know.
CaptivateIQ, a sales commission software provider, has raised $100M in a Series C. The round drew participation from ICONIQ Growth, Sequoia Capital, Accel, and Sapphire Ventures.
How’s the company performing?
- California-based CaptivateIQ helps enterprises design and implement sales commission plans and workflows.
- In 2021, the company more than tripled its revenue year-over-year.
- As of 2021, CaptivateIQ had reportedly processed more than $2B in commissions for employees since its inception.
- Its client base includes Affirm, ClassPass, Gong, Amplitude, Intercom, Podium, and TripActions.
- The company is currently supported by a team of over 200 employees.
Why does the market matter?
- The global sales commission software market was valued at $2.1B in 2020, and it is expected to grow at a CAGR of 10.4% until 2028, according to Adroit Market Research.
- The generation of increasing amounts of data by sales teams across industries has contributed to market growth.
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