Spiff, a Salt Lake City, UT-based provider of sales commission software for revenue and sales organizations, raised $50M in Series C funding.
The round was led by Salesforce Ventures with participation from Lightspeed, Norwest, Kickstart Fund, Album and others.
The company intends to use the funds to build on its sales commission portfolio and to begin solving for other complex sales and finance processes that have historically relied on spreadsheets.
Led by Jeron Paul, Founder and CEO, Spiff provides commission software that combines spreadsheet with automation at scale- enabling finance and sales operations teams to self-manage complex incentive compensation plans. It is designed to facilitate trust across organizations, motivate sales teams, increase visibility into performance and earnings, and drive a line growth.
Spiff also announced the launch of Spiff Designer, its newest model builder, which enables finance and sales ops professionals to build and manage their commission programs- The company is also building products for use cases such as Revenue Recognition, Forecasting, Allocations, and Territory & Quota Planning.
Last year, the company announced more improvements and additional integrations within Salesforce to Spiff Commission Estimator, which provides instant visibility for Salesforce users into potential commission, commission earned, and attainment in Salesforce as they are developing quotes and opportunities. Spiff Commission Estimator enables managers and salespeople to focus on the deals that have the biggest business impact and therefore the highest payouts for sales reps.
FinSMEs
16/05/2023