QuotaPath is a Software-as-a-Service (SaaS) provider that designs solutions for salespeople and other employees with tracking their commissions. The platform was built by sales professionals that wanted to streamline the management of their commissions and fees. Founded in April 2018, the SaaS provider operates out of Philadelphia, PA and Austin, TX.
The SaaS service provider announced that it has raised $3.5 million in its seed funding round, which was led by existing investment group, ATX Seed Ventures. The latest financing brings QuotaPath’s total capital raised to $5 million. The proceeds will go to accelerating its go-to-market for its platform, hire more employees, and add further premium and enterprise functionality.
ATX is an early-stage venture capital firm that primarily focuses on seed or Series A investments in SaaS, Internet-of-Things (IoT), e-commerce, artificial intelligence, commercial technology, and mobile apps. Furthermore, ATX Seed Ventures primarily focuses on investment opportunities in Texas and the South-Central United States. Here is the full press release detailing of the seed round:
QuotaPath Press Release:
PHILADELPHIA and AUSTIN, Texas, Mar. 4, 2019 /PRNewswire/ — QuotaPath, a software as a service (SaaS) offering designed to help employees who earn commissions track their pay and quota attainment, announced today that it raised $3.5 million in funding led by existing investment group ATX Seed Ventures. QuotaPath has raised $5 million to date and will be using the new capital to add talent, build out Premium and Enterprise functionality, and accelerate go-to-market for its platform.
Founded in April of 2018, 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.
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.”
Upcoming Public Launch
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, said.
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.”
QuotaPath is bringing an innovative solution to market that redefines the way sales teams think about their earnings through easy-to-use software. 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, TX and is currently hiring. For more information, visit https://www.quotapath.com, and follow them at @QuotaPath, Facebook and LinkedIn.
About ATX Seed Ventures
ATX Seed Ventures is an early-stage venture capital firm specializing in Texas and the South-Central U.S. The firm’s seed and Series A investments focus on software-as-a-service, IoT, e-commerce, AI, frontier commercial technologies and mobile applications. ATX Seed Ventures was created by expert entrepreneurs to serve emerging entrepreneurs. The firm was founded in 2014 and is based in Austin, Texas. Visit www.atxseedventures.com, and follow them at @ATXSeedVentures, Facebook and LinkedIn.