Everstage, a sales performance management startup, has raised $30 million in a funding round led by Mumbai-based venture capital firm Eight Roads Ventures, with additional support from existing investors Elevation Capital and 3one4 Capital.

According to a statement released by the company on Wednesday, the new funding would assist expenditures in internal professional services and product development.

Siva Rajamani, co-founder and CEO of Everstage, said, “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.”

Kelly McGuire has been appointed vice president of Customer Success at Everstage in an effort to improve customer experience. McGuire will spearhead efforts to expand customer services. He has over 15 years of expertise from firms such as Sisense and Glassdoor.

Everstage, a company founded in 2020 by Vivek Suriyamoorthy and Rajamani, a former director and head of revenue operations at Freshworks, provides a platform that automates sales commission procedures. The enterprise-SaaS provider works with customers in a variety of industries, such as finance services, manufacturing, and technology. GrayTV, Wiley, Diligent, Trimble, and Paychex are among its clients.

Aditya Systla, partner at Eight Roads Ventures, the incoming investor in the round, said, “Customers consistently expressed their appreciation for the product’s simplicity and intuitive design, which significantly shortens the time to value.”

Raising a total of $45 million to date, the New York City-based company is now supported by Eight Roads Ventures’ expanding SaaS portfolio, which includes Icertis, MoEngage, SaaS Labs, Securonix, and Jiffy.ai. After a 300% increase in revenue over the previous year, Everstage is raising its largest fundraising round to date.

A Rs 5 crore Employee Stock Ownership Plan (ESOP) buyback was also disclosed by the company, indicating an emphasis on employee involvement after investment.

In the future, Everstage intends to investigate developments in artificial intelligence (AI). It will present an AI Agent Creation Studio, allowing experts in revenue operations (RevOps) to create AI helpers.

The company, in the statement, said, “These AI agents will be capable of performing tasks such as sales performance analysis, plan building, and modelling recommendations, further streamlining the sales operations process.”

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