Everstage, a dynamic SaaS startup revolutionizing sales performance management, has successfully raised $30 million in its Series B funding round, led by Eight Roads Ventures. Existing investors, Elevation Capital and 3one4 Capital, also participated in this significant funding event, bringing Everstage’s total funding to an impressive $45 million.

This round marks a pivotal moment for the Delaware and Chennai-based company, with Eight Roads Ventures contributing over 50% of the funding. The newly acquired capital will be instrumental in enhancing Everstage’s product capabilities and expanding its in-house professional services, solidifying its position in the competitive SaaS landscape.

Siva Rajamani, Co-founder and CEO of Everstage, stated, “Our Series B isn’t just about growth; it’s a commitment to our customers. In a market often dominated by traditional vendors, we’re challenging the norm by offering a modern approach to sales performance management. This investment will allow us to double down on product innovation and elevate the customer experience like never before.”

In addition to the funding, Everstage is also implementing an Employee Stock Ownership Plan (ESOP) buyback worth ₹5 crore, underscoring its dedication to rewarding and empowering its employees.

Founded in 2020 by Siva Rajamani and Vivek Suriyamoorthy, Everstage aims to automate the sales commission process, simplifying operations for finance professionals and providing certainty in earnings for sales representatives. With a growing team of over 200, the company is making significant strides in achieving its mission.

Everstage’s client portfolio includes several Fortune 1000 companies and large enterprises such as GrayTV, Wiley, Diligent, Trimble, and Paychex. The company has reported a remarkable 300% year-over-year revenue growth in 2023, showcasing its ability to innovate and meet the evolving needs of the market.

Aditya Systla, Partner at Eight Roads Ventures, praised Everstage’s modular product, stating, “It helps organizations dynamically manage their sales performance needs while aligning frontline teams with broader business goals. Customers consistently appreciate the product’s simplicity and intuitive design, which shortens the time to value.”

Everstage serves a variety of industries, including technology, manufacturing, and financial services. A standout feature of its platform is “Crystal,” a module designed for real-time commission forecasting, enabling sales teams to understand their potential earnings clearly. Additionally, the platform offers BI-powered reporting and analytics, helping businesses leverage data for growth.

Looking ahead, Everstage plans to launch its AI Agent Creation Studio, which will empower Revenue Operations (RevOps) professionals to build and customize AI assistants. These agents will streamline tasks such as sales performance analysis, plan creation, and recommendation modeling, further enhancing sales operations.

With this latest funding, Everstage is poised for a new phase of growth, driven by innovation and a commitment to transforming the sales performance management landscape.