The India and Singapore-based company will deploy the funds for talent acquisition, further strengthen the product and make further inroads in North America, the company said in a prepared statement on Tuesday.
Founded in 2021 by Apoorv Singh and Kartik Arora, ElevateHQ helps companies motivate their sales teams and improve their performance with its sales commission automation platform.
“Our product eliminates the tedious work, ambiguity, and errors associated with manually calculating commissions, and enables businesses to use incentives as a sales enabler, rather than a chore. Our goal is simple, we want to standardize transparent, real-time commissions for sales teams,” Singh said in the statement.
ElevateHQ is focused on serving diverse clients so the product can mature across a wide range of commission plans, team sizes, and structures. “Today, you can automate any commission rule under the sun using our no-code commission generator,” Singh said.
Over the next year, ElevateHQ plans to capitalize on this strength and grow its customer base by 10X.
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“Sales enablement tools are growing in popularity around the world, and sales commissions are becoming a critical part of that stack. ElevateHQ is uniquely positioned to serve global clients,” said Dinesh Singh, Partner, Leo Capital
The platform has dozens of customers in the United States, Europe, and Asia. It has automated sales commissions across industries including insurance, pharmacy, education, services, and software as a service (SaaS).
Some of ElevateHQ’s clients include Airmeet, Edgepetrol, Mercer-Mettl, LeverageEdu, Vymo, FreshConsulting, Horangi, and ESCO.