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.
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