Germany-based EqualTo has raised €3.5 million to accelerate the growth of their no-code sales commission operating system. The seed round was led by Cavalry Ventures with participation from Amaranthine, First Momentum Ventures, helloworld.vc and Saarbruecker21. Additionally, a group of accomplished founders and operator angels have joined the round, from leading tech companies such as McMakler, Flaschenpost, Personio and Peakon.
“The level of support from the experienced entrepreneurs participating in this round shows us that we are dealing with a large and unsolved problem. Companies have automated many business processes, but sales commissions are still stuck in the past. EqualTo is the missing piece of infrastructure needed to automate the commission process and maximize the ROI on sales commission,” said Gijs Hubben, Co-CEO and Co-Founder at EqualTo.
Most companies have a person in finance or sales operations that manually calculates sales commissions in a collection of spreadsheets. This can be inefficient, the larger problem is that this prevents companies from automating and leveraging the full power of incentives.
EqualTo explains that huge sums are paid each year to sales teams in commission, but without proper infrastructure; companies have no real visibility on how all that money is spent, and how it can be spent more efficiently to drive growth. Additionally, incentive plans in spreadsheets don’t provide the transparency that the sales teams need. This is crucially important not only for performance, but also for employee satisfaction.
Founded in 2020, EqualTo is a sales commission operating system, specifically designed for fast growing sales teams. EqualTo automates the commission process and serves as a single source of truth for commission rules and data. Data connectors for CRM, ERP, HR, payroll and accounting systems ensure seamless enterprise integration.
“My previous businesses convinced me that incentive compensation should motivate and align employees with company strategy. But in countless companies, it’s a source of frustration, disputes and tedious admin. Incentives are a key element in managing the sales organization. When incentives are correctly designed and managed, there’s almost no limit to what the sales team can achieve,” said Gijs Hubben, Co-CEO and Co-Founder at EqualTo.
Unique to EqualTo is the intuitive, no-code, version-controlled plan design environment, where spreadsheet formulas can be used to accurately model any desired commission plan. Customers already have the required spreadsheet skills in-house, and the transition from commission spreadsheets to EqualTo is frictionless. Companies retain control of their own plans, and are not at the mercy of expensive consultants.
In addition, EqualTo supports white-label integrations for companies that do not want another rep-facing tool. Here, EqualTo operates as a headless system that is seamlessly integrated with other services. The API-first architecture allows commission data to be presented and visualized in the CRM, the Data Warehouse, on Business Intelligence platforms or in proprietary applications.
EqualTo’s commission engine ensures that data stays historically consistent. Regardless of what changes and when, or in what order the data arrives, EqualTo accurately computes the same net earnings.
When changes are made, or new data arrives from the CRM, EqualTo automatically books the required transactions to the personal reward account of the employee. This level of transparency prevents many disputes, and makes it crystal clear to reps how much is due at the next payroll event: they simply check their account balance.
Rouven Dresselhaus, Managing Partner at Cavalry Ventures and the lead investor in this financing round, explained what excites him about EqualTo: “EqualTo is a true no-code sales commission operating system, making it the ideal solution for any fast-growing organisation. The software is powerful and flexible, yet intuitive. The low barrier to adaptation and usage allows it to become the single source of truth for commissions, leading to a more efficient, accurate and smart incentivisation set-up.”
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Source: https://www.eu-startups.com/2021/06/german-startup-equalto-raises-e3-5-million-for-their-no-code-sales-commission-operating-system/
