QuotaPath raises $3.5 million seed round to launch its sales enablement platform and help salespeople track their commissions
Last week, we wrote about ATX Ventures, when the venture capital firm raised $32M second fund for investments in early-stage technology companies. Today, ATX Ventures has led a $3.5 million in QuotaPath, an early stage startup with a growth enablement engine designed to fuel high-performing revenue organizations. To date, QuotaPath has raised $5 million and will be using the new capital to add talent, help salespeople calculate and track their commissions, build out Premium and Enterprise functionality, and accelerate go-to-market for its platform.
Founded in early 2018 by AJ Bruno and Cole Evetts, QuotaPath is redefining the way sales teams think about their earnings through easy-to-use software. QuotaPath launched its initial platform to a group of early access users in September 2018. Having seen an increase in demand for the tool ranging from Fortune 500 companies to early startups, the company plans to open access to the public in Q2 2019.
Built by sales professionals, the company’s diverse set of features simplifies the management of commissions and drives consistent ROI for revenue teams. Recognized as an up-and-coming leader in sales enablement software, QuotaPath was listed as Built in Austin’s and Technical.ly Philly’s ‘Top Startups to Watch Out For.’ QuotaPath is backed by ATX Seed Ventures, a venture capital firm specializing in Texas-based, early-stage companies in the technology sector. QuotaPath is operating in Philadelphia, PA and Austin, Texas.
Commenting on the fundraising, AJ Bruno, Co-Founder and CEO of QuotaPath, said, “I’m incredibly proud of what we’ve done in such a short time and this new investment is going to accelerate what we can do. The next few months are going to be phenomenal.”
Chris Shonk, the Managing Director of ATX Seed Ventures, will remain on the Board of Directors and added, “The experienced team at QuotaPath has continued to execute at a high velocity in an underserved space and we are thrilled to continue the journey right along with them.”
One of the major initiatives in Q2 will be the launch of QuotaPath to the public. “Anyone interested in tracking their commissions, bonuses, quota attainment, or paychecks will be able to do so in a matter of minutes,” Cole Evetts, Co-Founder and COO of QuotaPath, added.
The application will have paid functionality to allow companies to integrate with their Customer Relationship Management (CRM) system, but will always have a free option. Evetts says, “We know how stressful it can be to ensure you’re being paid properly and want to make it easier on everyone, regardless of your budget.”