Thursday, May 1, 2008

Xactly Corporation, the leader in on-demand sales performance management has raised $30 million

What Company Is Offering:

Xactly Corporation is the market leader in on-demand sales performance management. The company's flagship product, Xactly Incent, enables sales and finance executives to design, implement, manage, audit and optimize sales compensation management programs easily and affordably. Xactly solutions automate the process of aggregating data from disparate systems into a secure, hosted repository, and enable companies to leverage this business data, which is the lifeblood of sales performance management. Xactly helps companies improve operational performance, optimize sales effectiveness, proactively manage risk and compliance, and maximize profits.

How Much They Got From VCs:

Xactly Corporation, the leader in on-demand sales performance management, today announced it has raised $30 million in additional capital to fund continued business growth and capitalize on its leadership role in the emerging Sales Performance Management (SPM) space, which Ventana Research forecasts to grow beyond $8.2 billion by 2010*. The new $30 million in capital includes a round of equity and a revolving credit facility.

"This financing represents a significant tipping point for Xactly, giving us the war chest we need to further capture market share and continue to dominate the SPM space," said Christopher Cabrera, president and CEO of Xactly Corporation. "We are pleased with the steadfast support from our existing investors and the participation from new investors Glynn Capital Management and Cheyenne Ventures. In addition to fueling our growth in North America and expansion into EMEA, the new funding will enable us to deliver key new products as outlined in our 18-month product roadmap, culminating in the market's most comprehensive suite of on-demand sales performance management solutions available from a single vendor."

More at:

No comments: