ElevateHQ, India and Singapore-based business-to-business SaaS startup, has raised $1.1 million in a pre-Seed fund round, led by Leo Capital. The round also saw participation from Veda VC, PointOne Capital and 100X Entrepreneurs. The fund raised will be deployed towards the acquisition of talent, strengthening the product further and making further inroads in North America.
Company handout
"In a world where everything is about instant gratification, sales commissions are no exception. We are reimagining the way companies use sales incentives and commissions to motivate their employees. Our product eliminates the grunt work, ambiguity and errors associated with manual commission calculation, and allows businesses to use incentives as a sales enabler, rather than a chore," said Apoorv Singh, co-founder and CEO, Elevate HQ.
During the 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. Over the next year, ElevateHQ plans to capitalize on this strength and increase its customer base ten times more, claimed by the company in a statement.
"Sales enablement tools are becoming increasingly popular around the world, and sales commissions are becoming an essential component on this stack. ElevateHQ, we believe, is uniquely positioned to serve global customers, and will become the go-to-tool for sales operations and enablement teams," said Dinesh Singh, partner, Leo Capital.
Founded in 2021 by Apoorv Singh and Kartik Arora, ElevateHQ is a B2B SaaS company that is reimagining how businesses use sale incentives to motivate their employees. The product eliminates the grunt work and errors associated with manual sales incentive calculation.