Everstage, a SaaS startup specializing in sales performance management software, has raised $30 million in a Series B funding round led by Eight Roads Ventures. Existing investors Elevation Capital and 3one4 Capital also participated, bringing the total funding for the Chennai- and Delaware-based company to $45 million.
The funds will be used to enhance Everstage’s product offerings and scale its professional services, aiming to deliver faster and more impactful solutions to customers, the company announced. This follows a previous Series A round in April 2022, where the company raised $13 million.
Founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy, Everstage provides a modern platform for managing sales commissions and incentive compensation. Its flagship product, Crystal, helps sales teams forecast their commission earnings in real-time, offering transparency and motivating performance. The platform is widely adopted by large enterprises, including publicly listed companies such as GrayTV, Wiley, Diligent, Trimble, and Paychex.
Everstage’s solutions cater to industries ranging from technology to manufacturing and financial services. The company aims to position sales compensation as a driver of business growth, with its BI-powered analytics and reporting tools providing actionable insights for improved sales strategies.
The startup has experienced rapid growth, reporting a 300% year-over-year revenue increase in the last year. In recognition of its market leadership, Everstage has garnered top ratings on software review platforms like G2 and Gartner, backed by over 2,000 positive reviews from customers.
As part of this funding round, Everstage has also introduced an employee stock ownership plan (ESOP) buyback worth Rs 5 crore ($600,000), benefiting its employees. This move aligns Everstage with other Indian startups such as Swiggy, Meesho, and Urban Company, which have implemented similar ESOP buybacks to reward staff as their companies scale.
