Everstage, a Software-as-a-Service (SaaS) platform focused on automating sales commission processes, has raised $30 million in a funding round led by Eight Roads Ventures, with additional backing from Elevation Capital and 3one4 Capital. This funding brings Everstage’s total raised capital to $45 million, with over 50% of the latest investment coming from Eight Roads Ventures. The company has also announced an Employee Stock Ownership Plan (ESOP) buyback worth Rs 5 crore.
Founded in 2020 by Siva Rajamani, who previously headed global revenue operations at Freshworks, and Vivek Suriyamoorthy, Everstage’s platform helps businesses automate and streamline their sales commission workflows. The company serves a range of public and large enterprises in North America, including well-known organizations like GrayTV, Wiley, Diligent, Trimble, and Paychex. Over 80% of Everstage’s revenue is generated from this region.
“We are thrilled with our partnership with Eight Roads Ventures, given their background as the venture arm of Fidelity. It opens up promising growth opportunities for us. We plan to deepen our investments in AI and expand our product’s capabilities,” said Siva Rajamani, CEO of Everstage.
As part of its growth strategy, Everstage is launching a new feature called the ‘AI Agent Creation Studio,’ allowing revenue operations professionals to build and customize AI-powered assistants. These AI agents will handle tasks like sales performance analysis, plan building, and providing modeling recommendations, further enhancing the platform’s capabilities.
The company’s valuation has nearly tripled since its previous funding round in 2022 when it raised $13 million, though the current valuation remains undisclosed.
Everstage’s customer-centric product continues to evolve, catering to organizations seeking dynamic and intuitive solutions for managing sales performance. “Our modular product helps businesses manage their sales teams effectively, and clients consistently appreciate the ease and efficiency of the platform,” added Aditya Systla, partner at Eight Roads Ventures.
With a team of 180 employees based in India, Everstage remains focused on scaling its operations and innovating in sales performance management.