ElevateHQ said it would utilize the funds towards acquiring talent, strengthening the product, and making further inroads in the North American market.
India and Singapore-based B2B software-as-a-service (SaaS) start-up ElevateHQ has raised $1.1 million in a pre-seed funding round led by Leo Capital. Other investors who participated in the funding round included Veda.VC, PointOne Capital and 100X Entrepreneurs. ElevateHQ said it would utilize the funds towards acquiring talent, strengthening the product, and making further inroads in the North American market.
Commenting on the investment in ElevateHQ, Dinesh Singh, Partner, Leo Capital, said, “ElevateHQ, we believe, is uniquely positioned to serve global customers, and will become the go-to tool for sales operations and enablement teams. We are extremely excited to back them in this journey.”
During its first phase of growth, ElevateHQ focused on serving diverse customers so the product could mature over a wide range of commission plans, team sizes, and structures. The start-up plans to capitalize on this strength and increase its customer base by around 10 times over the next year, the company said in a statement.
ElevateHQ, which was founded last year by Apoorv Singh and Kartik Arora, helps companies motivate their sales teams and drive performance through its Sales Commission Automation platform. The platform has customers in the USA, Europe, and Asia and automated sales commissions across industries like pharma, insurance, education, services, and SaaS.
Some of the platform’s customers include companies like Airmeet, Mercer-Mettl, Edgepetrol, LeverageEdu, Vymo, FreshConsulting ESCO, and Horangi.
He further added, “Today, you can automate any commission rule under the sun suing our no-code commission builder.”