CaptivateIQ Valued at US$1.25 Billion After Series C Round

The no-code SaaS platform secured US$100 million in their Series C round led by Accel, Sequoia Capital and ICONIQ Growth

Vrisha Phrabhakaran

28 Jan, 2022

CaptivateIQ Valued at US$1.25 Billion After Series C Round | BEAMSTART News

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CaptivateIQ is a no-code SaaS platform that helps clients create personalised sales and commission plans.

The platform provides auditable commission calculations at a scale that reduces reliance on traditional spreadsheets.

The San Francisco-based startup helps clients to improve their efficiency and lowers chances of potential errors as the platform provides fully automated calculations.

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The no-code platform states that it has tripled its revenue since last year alone.

According to co-founders Conway Teng and Mark Schopmeyer, the development of CaptivateIQ comes from their own experience where they believe the outdated software in the market was not able to handle the flexibility and speed required by businesses today. 

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“We ultimately quit our jobs to basically build out the tool that we would have wanted to use,” Teng mentioned.

Mark Schopmeyer stated that managing commissions is difficult, and companies have been forced to choose between "two suboptimal choices" for the process — manual, opaque and error-prone spreadsheets or rigid and costly legacy solutions.

Since 2020 CaptivateIQ has seen a growing clientele from ClassPass, Intercom, Udemy, and more.

This growth came after 2020 when the company saw an uptake of its software used by companies outside the tech industry.

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