QuotaPath secures $21.3Mn to expand headcount & product portfolio

QuotaPath- a developer of commission-tracking technology for sales and revenue teams has raised USD 21.3 million in Series A funding round led by Insight Partners along with existing investors like Integr8d Capital, ATX Ventures, HubSpot Ventures, and Stage 2 Capital.

The latest investment comes after QuotaPath recorded a 60% growth in its revenue since January’21. With over 5,000 users, 40% of which are paid, some of its notable clients include Mailgun, Guru, Contractbook, OSG, Cloud Academy, and SaaSOptics.

QuotaPath was incorporated by AJ Bruno, Eric Heydenberk, and Cole Evetts with an aim to assist other entities develop and scale superior-performing motivated growth teams.

The company claims that it provides teams a channel to streamline the commission process and avoid any inaccurate budgets, payouts, and dissatisfied sales representatives owing to poor sales commission planning, administration, and reporting.  

As per a statement by the company, its sales representatives are able to offer more insights into quota attainment and earnings by using real-time CRM integration with Close.com, and Salesforce, and HubSpot.

AJ Bruno was reportedly quoted stating that a sales team can predict more earnings and set goals around what they wish to achieve along with connecting the goals to the bottom line of the firm.

In June 2020, QuotaPath introduced its paid platform that works with entities that has as few as three sales representatives to as many as few hundreds that range from SaaS to e-commerce platforms to low-tech businesses like funeral homes and wedding venues.

With nearly 28 employees, QuotaPath has plans to use the newly raised capital to expand its workforce by the end of 2021. It also aims at partnering and expanding the product offerings to HR and finance domains.

Source Credits: https://techcrunch.com/2021/07/28/quotapath-raises-21-3m-in-insight-partners-led-round-to-help-sales-teams-better-track-commissions/