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Captivating Revenue Teams with Transparent Sales Commissions: Why We’re Excited to Partner with CaptivateIQ

Captivating Revenue Teams with Transparent Sales Commissions: Why We’re Excited to Partner with CaptivateIQ
Investment / January 26, 2022
Written by , Rajeev Dham , Cathy Gao , Demi Obayomi

At Sapphire we’ve always been bullish on sales and finance software, which is why we recently partnered with 6sense, Chargebee and FloQast. Our years of experience in the space leads us to believe that CaptivateIQ is onto something special with its mission to make commissions a breeze for both sales and finance teams. 

Equally as impressive is the founding team. There is no replacement for having had the chance to see Conway in action while at Gusto, getting to know Mark personally over dinner or strategizing about the business with the founding team late into the night. We would jump at any opportunity to work with co-founders Mark, Conway and Hubert, and are excited to partner with them and the entire CaptivateIQ team as they build modern sales commissions software.

A One of a Kind Product to Run Sales Commissions

Today, the majority of companies continue to run their commissions processes on spreadsheets. But all of that is changing. CaptivateIQ is a dedicated commissions software product that is revolutionizing how finance and operations teams model, automate and optimize incentive compensation for sales reps. Attractive to companies of all sizes, CapitivateIQ is easy to implement, provides a familiar spreadsheet-like UI and automates the manual aspects of the commissions workflow. 

CaptivateIQ combines the best of spreadsheets and modern software to bring the commission process into the 21st century. The spreadsheet-like UI and syntax helps customers feel right at home from the very first time they use the product.

Calculating commissions involves several manual and time-consuming steps. Knowing this, CaptivateIQ built a product that’s automated right from the data entry step through integrations to key systems such as CRMs, accounting software, HR software, data warehouses and so on. In addition, CaptivateIQ offers customizable dashboards that provide a view into company-wide commissions, as well as individual dashboards that can be shared with sales reps so they can get back to closing deals instead of wasting time tracking their own commissions.

We believe sales commission software is a multi-billion dollar market ripe for the taking and CaptivateIQ is in pole position to do so driven by the company’s focus on ease of use and workflow automation. What gets us even more excited is the founding team’s long-term vision and roadmap to take on other manual processes in sales and finance that can be significantly improved with software.

Founding Team with First-Hand Experience & Unique Insights


CTO Hubert Wong, co-CEO Mark Schopmeyer and co-CEO Conway Teng

Co-founders Mark, Conway and Hubert have known each other for well over a decade–since their time as students at UC Berkeley. Their vision to build a modern sales compensation platform comes from first-hand experience using spreadsheets and antiquated software to manage sales compensation in their previous roles.

The founding team’s unique understanding of user needs led to several instinctive product decisions that have paid off, and as a result, have set CaptivateIQ on the path to becoming a dominant player in sales compensation management.

We are thrilled to partner with Mark, Conway, Hubert and the entire CaptivateIQ team! You can learn more about the CaptivateIQ platform here or if you’re interested in joining a hyperscaling company, see a list of open roles here.

 

Disclaimer: Nothing presented within this article is intended to constitute investment advice, and under no circumstances should any information provided herein be used or considered as an offer to sell or a solicitation of an offer to buy an interest in any investment fund managed by Sapphire Ventures, LLC (“Sapphire”). Information provided reflects Sapphires’ views as of a time, whereby such views are subject to change at any point and Sapphire shall not be obligated to provide notice of any change. While Sapphire has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third-party information presented herein, which is subject to change. Companies mentioned in this article are a representative sample of portfolio companies in which Sapphire has invested in which the author believes such companies fit the objective criteria stated in commentary, which do not reflect all investments made by Sapphire. A complete alphabetical list of Sapphire’s investments made by its direct growth and sports investing strategies is available here. No assumptions should be made that investments listed above were or will be profitable. Due to various risks and uncertainties, actual events, results or the actual experience may differ materially from those reflected or contemplated in these statements. Nothing contained in this article may be relied upon as a guarantee or assurance as to the future success of any particular company. Past performance is not indicative of future results..