SUMMARY
- Everstage has secured $30 million in a Series B funding round.
- This funding round, led by Eight Roads Ventures also saw participation from Elevation Capital and 3one4 Capital.
- It brings the total funding raised by Everstage since its inception to $45 million.
Enterprise sales management software Everstage has secured $30 million in a Series B funding round. This funding round, led by Eight Roads Ventures with participation from Elevation Capital and 3one4 Capital, brings the total funding raised by Everstage since its inception to $45 million.
With this fresh funding, Everstage aims to enhance its product features and develop professional services in-house.
Siva Rajamani, the Co-founder and CEO of Everstage, emphasized, “Our Series B is not just about growth; it’s about a long-term commitment to our customers. This investment will allow us to double down on product innovation and elevate our customer experience with the highest standard of service, unlike anything the market has seen before.”
Everstage was founded by Siva Rajamani and Vivek Suriyamoorthy in 2020 with a mission to help companies improve the effectiveness of their customer-facing teams using a no-code platform for sales commission automation.
Before founding Everstage, Rajamani was the head of global revenue operations team at Freshworks, overseeing the growth from $30 million to $300 million in annual recurring revenue.
“Everstage’s modular product helps organisations dynamically manage their evolving Sales Performance Management needs and align frontline teams with broader organisation goals. We are excited to partner with Siva and Vivek, who have assembled a strong team with extensive experience in Revenue Operations,” stated Aditya Systla, Partner at Eight Roads Ventures.
Fidelity-backer global investment firm Eight Roads Ventures, which manages over $11 billion in assets across several countries, welcomes Everstage’s continued growth and contribution to its SaaS portfolio, which also includes other promising startups like Moengage and SaaS Labs.
In terms of product development, Everstage plans to introduce an AI Agent Creation Studio to assist revenue operations professionals in creating their own AI tools. These tools will oversee tasks such as sales performance analysis, strategic planning, and providing insights on modeling.
Everstage has a broad client base that includes major global and publicly-traded corporations and big enterprises, including GrayTV, Wiley, Diligent, Trimble, and Paychex.
The company has also recently welcomed Kelly McGuire as VP of Customer Success, bringing over 15 years of experience from companies like Glassdoor and Sisense.
The firm has announced a buyback program for its Employee Stock Ownership Plan (ESOP), valued at Rs 5 crore.
Notably, Everstage has shared that it had a 300% YoY revenue growth last year.
