Salesforce has announced plans to accumulate Spiff, a platform that automates commission management for sales teams. Phrases of the deal weren’t disclosed.
Based in 2017, Spiff serves up a low-code interface designed to make it simple for companies to create a gross sales compensation plan that mechanically updates primarily based on personnel assembly their pre-agreed targets. With native integrations for the frequent enterprise CRM and ERP methods, Spiff says it could actually deal with probably the most intricate fee constructions, together with no matter circumstances could also be in place to set off funds, whereas gross sales representatives can see what fee they’re due in real-time.
The Salt Lake Metropolis-based startup had raised north of $110 million in its six-year historical past, together with money injections from Salesforce’s very personal enterprise capital agency Salesforce Ventures which invested in Spiff’s Sequence B spherical in 2021 and led its $50 million Series C round earlier this 12 months.
Spiff Picture Credit: Spiff
As soon as the acquisition closes, which is predicted within the first few months of 2024, Salesforce says that Spiff will likely be put to work inside its Sales Performance Management software program, a CRM-connected product that connects buyer and gross sales workforce information.
It’s price noting that the 2 firms have a historical past that goes past the earlier fairness funding, with Spiff making itself available on the Salesforce AppExchange for a number of years already.
The deal additionally constitutes the most recent in a line of ecosystem firms that Salesforce has ultimately introduced in-house. Again in September Salesforce acquired Airkit, a low-code platform for constructing AI customer support brokers. Not solely did Airkit’s founders have a earlier exit to Salesforce having bought a giant information startup known as RelateIQ for $390 million in 2014, however Salesforce Ventures had invested in Airkit over a number of rounds since its founding in 2017. And just like Spiff, Airkit was additionally obtainable on AppExchange.
So it’s clear that Salesforce continues to see tried-and-tested ecosystem firms as a protected wager for its M&A endeavors, with “low-code” taking part in a key issue too.
