French startup Qobra has recently announced the successful completion of its Series A funding round, raising $10.5 million. The funding will help Qobra further develop its cutting-edge platform that simplifies and automates sales compensation management for businesses.
Key Takeaway
Qobra, the French startup specializing in real-time sales compensation management, has secured
0.5 million in funding. With its user-friendly platform and integrations with popular CRM and ERP systems, Qobra aims to simplify and automate the complex task of sales compensation management. The funding will support Qobra’s expansion into the U.K. and the U.S., as well as its efforts to compete with similar companies in the market.
Streamlining Sales Compensation with Qobra
Qobra aims to revolutionize the way businesses handle sales compensation by offering a real-time solution that eliminates the need for cumbersome Excel spreadsheets. The startup provides a user-friendly interface that integrates with various CRM, ERP, and data warehouses, including Salesforce, HubSpot, Pipedrive, Microsoft Dynamics, and more.
The platform allows operations and finance teams to define compensation rules and targets based on historical data. Using a no-code interface similar to a spreadsheet, sales compensation calculations can incorporate variables such as churn rate or monthly recurring revenue.
Enhancing Sales Team Performance and Visibility
Qobra’s near real-time data synchronization provides sales teams with valuable insights into their performance. With instant access to up-to-date sales data, teams can monitor their progress, review individual and team performance, and track how their compensation is affected.
Furthermore, Qobra enables validation workflows before payouts are sent to payroll, ensuring accuracy and compliance. The platform also serves as a comprehensive dashboard for analyzing past performance on both team and individual levels.
Expanding Reach and Competition
Qobra has already attracted notable clients such as Doctolib, CoachHub, SeLoger, and PayFit. With the new funding, the company plans to expand its services to the United Kingdom and the United States. This move will put Qobra in direct competition with other companies in the same space, including CaptivateIQ, QuotaPath, and Palette.
The funding round will also support Qobra’s growth plans, with the team set to double in size from 30 to 60 employees.
