Everstage raises $30M in Series B led by Eight Roads Ventures

Everstage, an enterprise sales performance management software, has raised $30 million in a Series B funding round led by Eight Roads Ventures, with participation from existing investors Elevation Capital and 3one4 Capital. 

With this round, the Chennai and Delaware-based company has raised a total of $45 million in funding so far. It will use the new capital to expand its product capabilities and invest in in-house professional services. 

“Our Series B is not just about growth; it’s about a long-term commitment to our customers. 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,” said Siva Rajamani, Co-founder and CEO of Everstage. 

Founded in 2020 by Rajamani and Vivek Suriyamoorthy, Everstage enables companies to boost the performance of their customer-facing teams through a no-code sales commission automation platform.

Before founding Everstage, Rajamani served as the head of Freshworks' global revenue operations team, where he oversaw the growth of annual recurring revenue from $30 million to $300 million.

“Everstage’s modular product helps organisations dynamically manage their evolving Sales Performance Management needs and align frontline teams with broader organisation goals. We are excited to partner with Siva and Vivek, who have assembled a strong team with extensive experience in Revenue Operations,” said Aditya Systla, Partner at Eight Roads Ventures. 

Eight Roads, a global investment firm backed by Fidelity, manages $11 billion in assets across Asia, Europe, Israel, and the US. Everstage now joins the investment firm’s expanding SaaS portfolio, which includes startups such as Moengage, SaaS Labs, and Icertis, among others.

Everstage also plans to launch an AI Agent Creation Studio to assist RevOps professionals in building and customising their own AI assistants. These agents will handle tasks like sales performance analysis, plan building, and providing modelling recommendations, further streamlining sales operations.

Some of its clientele include several global Fortune 1000, publicly-listed companies and large enterprises such as GrayTV, Wiley, Diligent, Trimble and Paychex. The company in a statement said it clocked a 300% YoY revenue growth last year.

The company recently appointed Kelly McGuire as VP of Customer Success, who has over 15 years of experience from companies like Glassdoor and Sisense.

Additionally, Everstage announced an Employee Stock Ownership Plan (ESOP) buyback valued at Rs 5 crore.