Spiff, the next-generation sales compensation platform that automates commissions traditionally calculated in spreadsheets, today announced a $10M Series A funding round led by Norwest Venture Partners (Norwest). New outside investors include NextWorld Capital and Epic Ventures. Series Seed investors Kickstart, Album Ventures, Pipeline Capital and Peterson Ventures also participated. Sean Jacobsohn, Partner at Norwest, will join the Spiff board.
Spiff Founder and CEO Jeron Paul said, “Uncertainty is fast becoming the new normal and sales teams need the right tools to adapt and motivate sales. Commissions are a major cause of anxiety for teams who don’t understand or trust their incentive plan and many waste hours every month correcting mistakes or arguing with finance, which hits bottom lines. Norwest’s investment will help us automate commission calculations so sales teams have one less thing to worry about in these challenging times.”
Read more: Spiff raises $10M in Series A Funding