The funding will enable the sales compensation management startup, which is co-headquartered in Philadelphia and Austin, to expand its hiring rapidly and launch the QuotaPath platform to the public
QuotaPath, a software as a service (SaaS) offering designed to help employees who earn commissions track their pay and quota attainment, announced that it raised $3.5 million in funding led by existing investment group ATX Seed Ventures. QuotaPath has raised $5 million to date and will be using the new capital to add talent, build out Premium and Enterprise functionality, and accelerate go-to-market for its platform.
Founded in April of 2018, QuotaPath launched its initial platform to a group of early access users in September 2018. Having seen an increase in demand for the tool ranging from Fortune 500 companies to early startups, the company plans to open access to the public in Q2 2019.
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Continued Growth
Commenting on the fundraising, AJ Bruno, Co-Founder and CEO of QuotaPath, said, “I’m incredibly proud of what we’ve done in such a short time and this new investment is going to accelerate what we can do. The next few months are going to be phenomenal.”
Chris Shonk, the Managing Director of ATX Seed Ventures, will remain on the Board of Directors and added, “The experienced team at QuotaPath has continued to execute at a high velocity in an underserved space and we are thrilled to continue the journey right along with them.”
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Upcoming Public Launch
One of the major initiatives in Q2 will be the launch of QuotaPath to the public. “Anyone interested in tracking their commissions, bonuses, quota attainment, or paychecks will be able to do so in a matter of minutes,” Cole Evetts, Co-Founder and COO of QuotaPath, said.
The application will have paid functionality to allow companies to integrate with their Customer Relationship Management (CRM) system, but will always have a free option. Evetts says, “We know how stressful it can be to ensure you’re being paid properly and want to make it easier on everyone, regardless of your budget.”
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