Vericent, a Toronto, Canada-based company which specializes in sales performance management (SPM) software, received a strategic investment of undisclosed amount.
The round was led by Warburg Pincus, alongside existing investors Great Hill Partners and Spectrum Equity, with participation from company management.
The company intends to use the funds to advance its proprietary revenue performance engine framework, accelerate delivery of AI-driven capabilities, and reinforce its position in key markets globally.
Led by CEO Marc Altshuller, Varicent is a SaaS company that helps businesses accelerate growth. Its suite of solutions supports a company’s entire revenue journey to help drive predictable growth, from results-driven planning of territories and quotas to incentive compensation. With it, companies worldwide can set smarter goals and territories to optimize revenue potential, create incentive strategies that motivate the right behaviors to achieve revenue goals, and leverage AI-driven insights to make better decisions and outdo previous performance.
Commenting on the news said, Marc Altshuller, “With Warburg Pincus joining our existing investors, we solidify our foundation for further growth, strengthening our ability to further enhance our platform, customer experience, and partner ecosystem. Our Revenue Performance Engine has received an enthusiastic reception from customers and partners, highlighting its significant impact on optimizing sales plans and driving revenue. We believe Varicent is well-positioned to lead the industry forward in empowering organizations to optimize sales plans and incentive strategies that drive peak performance and revenue.”
FinSMEs
16/07/2024