sales force is announced plan to obtain Spiff, a platform that automates commission management for sales teams. Terms of the deal were not disclosed.
Founded in 2017, Spiff provides a low-code interface designed to help companies easily create sales compensation plans that automatically update based on talent meeting pre-agreed goals. . Native integration with popular enterprise CRM and ERP systems allows you to handle the most complex commission structures, including any conditions to trigger a payout, while giving sales reps the ability to see in real-time the commissions owed. He Spiff says.
The Salt Lake City-based startup invested in Spiff’s Series B round in 2021, including a cash infusion from Salesforce’s own venture capital firm Salesforce Ventures, which previously led a $50 million Series C round. , which has raised more than $110 million in its six-year history. this year.
Spiff image credits: Spiff
Once the acquisition is complete (expected within the first few months of 2024), Salesforce says it plans to bring Spiff to life internally. Sales performance management The software is a CRM connectivity product that connects customer and sales team data.
It’s worth noting that both companies have a history that goes beyond stock investments. Spiff becomes available It has been available on the Salesforce AppExchange for several years.
The deal is also the latest in a series of ecosystem companies that Salesforce has ultimately brought in-house. Back in September, Salesforce acquired Airkit, a low-code platform for building AI customer service agents. Airkit’s founders have previously exited Salesforce by selling a big data startup called RelateIQ for his $390 million in 2014, as well as Salesforce Ventures, which he founded in 2017. Since then, I have invested in Airkit several times. And like Spiff, Airkit was also available. On AppExchange.
So it’s clear that Salesforce continues to view proven ecosystem companies as a safe option for its M&A efforts, and that “low code” is also a key element.
Source: techcrunch.com