ElevateHQ raises USD 1.1 mln

Software-as-a-Service startup ElevateHQ on Tuesday said it has raised USD 1.1 million (about Rs 8.79 crore) in a funding round led by Leo Capital.

The pre-seed funding round also saw the participation from Veda.VC, PointOne Capital and 100X Entrepreneurs. The funds will be deployed towards the acquiring of talent, strengthening the product further, and making further inroads in North America, the statement said. “We are reimagining the way companies use sales incentives and commissions to motivate their employees. Our goal is simple, we want to normalise transparent, real-time commissions for sales teams,” ElevateHQ co-founder and CEO Apoorv Singh said in the statement.

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The platform already has dozens of customers across the US, Europe, and Asia, and automated sales commissions across diverse industries, including insurance, pharma, education, services, and SaaS. Some of ElevateHQ’s customers include Airmeet, Edgepetrol, Mercer-Mettl, LeverageEdu, Vymo, FreshConsulting, Horangi, and ESCO. Over the next year, ElevateHQ plans to capitalise on this strength and increase its customer base 10 times, it said.