French startup Qobra has raised a $10.5 million Series A funding round (€10 million) led by Singular with Revenue Syndicate and existing investor Breega also participating. Qobra helps businesses manage sales compensation so that managers don’t have to use Excel spreadsheets for this pesky task.
It starts by bringing data to Qobra. That’s why the startup has built integrations with many CRM, ERP and data warehouses, such as Salesforce, HubSpot, Pipedrive, Microsoft Dynamics, Google Big Query, Snowflake, PostgreSQL, Zoho and Amazon Redshift.
Operations and finance teams can then define compensation rules and targets based on historical data. The startup offers a no-code interface that works a bit like a spreadsheet. You can use variables, such as the churn rate or the monthly recurring revenue, and use that as a value in the calculation of sales compensation.
Qobra supports the usual acceleration rules. For instance, if a sales person beats their quota (>100%) or ends the quarter below their quota, there can be different formulas.
And because the platform fetches sales data in near real time, switching to something like Qobra brings visibility to the sales team. At any point in time, they can see how well they are doing.They can check every week or after a big sale to see how it affects their performance and their compensation. Finally, Qobra customers can set up a validation workflow before the tool sends payouts to payroll.
Qobra can also be used as a dashboard to analyze past performance on a team or individual contributor basis. Managers can grant access to other people’s performances so that sales people can compare their performance to others.
Some of Qobra’s clients include Doctolib, CoachHub, SeLoger and PayFit. With today’s funding round, the company plans to expand to the U.K. and the U.S. It competes with several companies operating in the same space, such as CaptivateIQ, QuotaPath and Palette in France. The team will double from 30 to 60 employees.
