In a recent funding round, Qobra, a French startup, has successfully raised $10.5 million in a Series A funding round led by Singular, with Revenue Syndicate and existing investor Breega also participating. Qobra provides businesses with a real-time sales compensation tool that eliminates the need for Excel spreadsheets and streamlines the management process. With this new investment, Qobra plans to expand its operations to the United Kingdom and the United States.
Qobra Raises $10.5 Million
Funding round details
The $10.5 million funding round was led by Singular, a prominent investment firm, with participation from Revenue Syndicate and Breega, an existing investor in Qobra. This substantial investment highlights the confidence that these investors have in Qobra’s innovative approach to sales compensation management.
Investors involved
In addition to Singular and Revenue Syndicate, Breega, a well-known investor in early-stage technology companies, also participated in the funding round. The involvement of these reputable investors further validates Qobra’s potential and vision for the future.
Qobra’s Real-Time Sales Compensation Tool
Qobra’s real-time sales compensation tool is designed to revolutionize the way businesses manage their sales compensation process. By eliminating the reliance on traditional Excel spreadsheets, Qobra offers a more efficient and user-friendly solution for calculating, tracking, and managing sales compensation.
Eliminating Excel spreadsheets
One of the key benefits of Qobra’s tool is its ability to eliminate the use of Excel spreadsheets. Many businesses still rely on cumbersome and error-prone spreadsheets to manage their sales compensation, resulting in time-consuming manual processes and increased risk of inaccuracies. Qobra’s tool streamlines this process and eliminates the need for Excel altogether.
Data integrations with CRM, ERP, and data warehouses
Qobra’s tool brings together data from various sources, including CRM (Customer Relationship Management) systems, ERP (Enterprise Resource Planning) software, and data warehouses. By integrating with popular platforms such as Salesforce, HubSpot, Microsoft Dynamics, and more, Qobra ensures that all relevant sales data is easily accessible and available for compensation calculations.
Defining compensation rules and targets
Qobra’s tool allows operations and finance teams to define compensation rules and targets based on historical sales data. Using a no-code interface that resembles a spreadsheet, users can utilize variables such as churn rate and monthly recurring revenue to calculate sales compensation accurately. This flexibility ensures that the compensation structure aligns with the unique needs and goals of each business.
No-code interface for easy use
Qobra’s tool features a user-friendly no-code interface that simplifies the process of defining and managing compensation rules. With no coding or programming skills required, businesses of all sizes and industries can easily navigate the tool and make necessary adjustments to compensation structures.
Support for acceleration rules
Qobra’s tool supports acceleration rules, allowing businesses to incentivize sales team members who exceed their quotas or penalize those who fall short. By implementing different formulas based on individual performance, businesses can effectively motivate and reward their sales teams.
Real-time visibility for the sales team
One of the key advantages of Qobra’s tool is its real-time visibility feature. Sales team members can track their performance and compensation at any given moment, providing them with valuable insights and motivation to excel. The platform fetches sales data in near real-time, providing up-to-date information for individual and team analysis.
Validation workflow and payout management
Qobra’s tool includes a validation workflow feature that ensures accurate and secure payout management. Before sending payouts to payroll, businesses can establish a validation process to review and verify compensation calculations. This ensures that compensation is distributed correctly and avoids any potential discrepancies.
Dashboard for performance analysis
Qobra’s tool also serves as a comprehensive dashboard for performance analysis. Managers can analyze past performance on both a team and individual contributor basis. Additionally, managers can grant access to other team members’ performance data, enabling sales team members to compare their performance against their peers and drive healthy competition.
Expansion Plans and Competitors
Expansion to the U.K. and the U.S.
With the recent funding round, Qobra has outlined plans to expand its operations to the United Kingdom and the United States. This expansion marks an exciting milestone for Qobra as it aims to bring its innovative sales compensation tool to new markets and establish a global presence.
Competition in the market
Qobra faces competition in the sales compensation management market. Competitors such as CaptivateIQ, QuotaPath, and Palette operate in the same space, offering similar solutions to businesses. However, Qobra’s unique features and user-friendly interface set it apart from its competitors, positioning it as a strong contender in the industry.
Qobra’s Customer Examples
Qobra’s sales compensation tool has already gained traction among various businesses. Here are a few examples of Qobra’s customers:
Doctolib
Doctolib, a leading online healthcare booking platform, has chosen Qobra’s sales compensation tool to streamline its compensation management process. With Qobra, Doctolib can accurately calculate and track sales compensation, ensuring that its sales team is adequately rewarded for their efforts.
CoachHub
CoachHub, a digital coaching platform, has also adopted Qobra’s sales compensation tool to simplify its compensation management process. By leveraging Qobra’s data integrations and real-time visibility features, CoachHub can provide its sales team with instant feedback and performance insights.
SeLoger
SeLoger, a prominent French online real estate platform, has partnered with Qobra to enhance its sales compensation practices. Qobra’s tool allows SeLoger’s finance and operations teams to define compensation rules and targets based on historical sales data, ensuring fair and accurate compensation for its sales team.
PayFit
PayFit, a cloud-based payroll and HR software provider, has integrated Qobra’s sales compensation tool into its operations. Qobra’s tool serves as a valuable addition to PayFit’s suite of solutions, enabling seamless and efficient management of sales compensation for its clients.
Company Growth and Employee Increase
Qobra’s recent funding success has paved the way for accelerated company growth. The company plans to double its team from 30 to 60 employees, allowing for increased development, support, and expansion efforts. This expansion will further strengthen Qobra’s ability to serve its growing customer base and continue innovating in the sales compensation management space.
In conclusion, Qobra’s real-time sales compensation tool offers businesses a comprehensive and user-friendly solution to manage sales compensation. With its elimination of Excel spreadsheets, integration with CRM and ERP systems, flexible compensation rule definition, no-code interface, real-time visibility, and performance analysis capabilities, Qobra empowers businesses to streamline their compensation processes and drive sales team performance. With its recent funding round and plans for expansion, Qobra is positioned for continued growth and success in the market.
