If You Have the Right Product With CaptivateIQ, Growth Is Imminent
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spreadsheets with new software technology to allow businesses to configure commission plans with minimal support. Businesses that pay their employees on a commission-based scale often have a difficult time developing a solid commission plan. They use specific calculations and often require a payroll team to ensure everything is accurate. CaptivateIQ takes all of the guesswork and frustrating calculations out of the process. If you look at the most recent round of CaptivateIQ investing, it’s obvious many investors believe in their product. During the Series C round of investing, CaptivateIQ raised $100 million. This came 11 months after the startup raised $46 million during Series B. CaptivateIQ is now sitting at a $1.25 billion valuation. CaptivateIQ has not announced if they will continue with a Series D round of investing, but they have stated they are currently focused on growth. Over the last year, CaptivateIQ has grown its
Creating a startup can be an incredibly stressful process. To start, you have to create a solid product or service needed in a specific industry or market. Then you have to prove the value of your product or service to investors so you can bring in more money and move to the next stage of the process. Many startups fail during the investment stage, but CaptivateIQ just proved that with the right product and a sound strategy for the future, any startup has the potential to be successful. CaptivateIQ, which is based in San Francisco, developed a no-code SaaS (software as a service) platform to help companies design customized sales commission plans. They were founded in 2017 during a time when many incentive compensation management solutions hit the market. These new startups realized businesses needed help to automate and improve the reporting and processing of commissions. CaptivateIQ has recently pulled ahead of the competition. Businesses that had to manage, process, and report commissions essentially had two options to keep track of everything. They could use spreadsheets or learn a specific programming language to utilize legacy solutions. CaptivateIQ decided to take the best of both worlds and combine the flexibility of
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number of employees from 90 to 200, and they don’t plan to stop there. While growing its business is important, CaptivateIQ is not forgetting about its product. They plan to use the most recent investment to continue the development of the core product features to make the commission process easier for more businesses. While CaptivateIQ is the leader in sales commission software using a no-code platform, other businesses with no-code platforms are also seeing extreme growth. Many of these businesses are seeing multimillion-dollar investments coming from their Series A and B investing rounds. It will be worth watching to see how no-code platforms grow over the next few years. CaptivateIQ has proven that filling a business need with a strong product is one of the best ways to get your startup off the ground. If you see a need in your industry, try to develop a way to meet it. If you create the right product or service, investors will line up to help get your business up and running at full throttle.
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