Saas startup Everstage raises $30 million from Eight Roads Ventures, others

Sales performance management startup Everstage has secured $30 million in a funding round led by Mumbai-based venture capital firm Eight Roads Ventures, with participation from existing backers Elevation Capital and 3one4 Capital.

In a statement on Wednesday, the company said that the fresh capital will bolster product development and support investments in in-house professional services. 

"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.

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To enhance its customer experience, Everstage has hired Kelly McGuire as vice president of Customer Success. McGuire, who brings over 15 years of experience from companies like Glassdoor and Sisense, will lead efforts to scale client services.

Founded in 2020 by Rajamani, a former director and head of revenue operations at Freshworks, and Vivek Suriyamoorthy, Everstage offers a platform that automates sales commission processes. The enterprise-SaaS company serves clients across diverse sectors, including technology, manufacturing, and financial services. Its clientele includes GrayTV, Wiley, Diligent, Trimble, and Paychex.

“Customers consistently expressed their appreciation for the product’s simplicity and intuitive design, which significantly shortens the time to value,” said Aditya Systla, partner at Eight Roads Ventures, the incoming investor in the round.

The New York City-headquartered company, now backed by Eight Roads Ventures' growing SaaS portfolio that includes Icertis, MoEngage, SaaS Labs, Securonix, and Jiffy.ai, has raised a total of $45 million to date. This funding round is the largest in Everstage’s history, following a 300% surge in revenue over the past year. 

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The company also announced a ₹5 crore Employee Stock Ownership Plan (ESOP) buyback, signalling a focus on employee engagement post-investment.

Looking ahead, Everstage plans to explore advancements in artificial intelligence (AI). It will introduce an AI Agent Creation Studio, enabling revenue operations (RevOps) professionals to build AI assistants. 

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“These AI agents will be capable of performing tasks such as sales performance analysis, plan building, and modelling recommendations, further streamlining the sales operations process,” the company said in the statement.