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About Varicent
Industries
Data & Analytics
Enterprise Software
Company Size
501-1,000
Company Stage
Series C
Total Funding
$34M
Headquarters
Toronto, Canada
Founded
2003
Overview
Varicent provides software solutions designed to help businesses improve their revenue growth. Their products focus on sales performance management and revenue performance management, allowing companies to create effective territory and quota plans, streamline their revenue operations, and develop incentive programs that motivate their sales teams. Varicent's software operates on a subscription model, meaning clients pay recurring fees to access their platform and tools. What sets Varicent apart from competitors is its strong emphasis on the specific needs of revenue leaders, offering data-driven insights that help clients optimize their go-to-market strategies. The ultimate goal of Varicent is to empower businesses to achieve their growth objectives through strategic planning and enhanced sales performance.
Simplify's Take
What believers are saying
- Generative AI-based Assistants provide a competitive edge in the SPM market.
- Strategic investment supports rapid development of AI-driven capabilities.
- Acquisition of Concert Finance expands Varicent's commissions software capabilities.
What critics are saying
- Generative AI-based Assistants may face data privacy and security challenges.
- Strategic investment may increase pressure for rapid growth, straining resources.
- Acquisition of Concert Finance may present integration challenges.
What makes Varicent unique
- Varicent's Generative AI-based Assistants enhance sales planning and data transformation.
- Strategic investment enables Varicent to accelerate AI-driven capabilities and market position.
- Recognition in The Forrester Wave™ highlights Varicent's leadership in the SPM sector.
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Funding
Total Funding
$34M
Below
Industry Average
Funded Over
1 Rounds
Industry standards
Company News
December 12, 2024 (Toronto, ON) - Varicent, the global leader in enterprise sales performance management (SPM), today unveils two powerful Generative AI-based Assistants designed to revolutionize sales planning and data transformation.
Latest Funding to Drive Next Phase of Innovation and Transformation of Sales Performance ManagementTORONTO, July 16, 2024 /PRNewswire/ -- Varicent, the industry leader in sales performance management (SPM) software, today announced a strategic investment led by Warburg Pincus, a leading global growth investor, alongside existing investors Great Hill Partners and Spectrum Equity, with participation from company management. Building on this investment, Varicent will continue to rapidly advance its proprietary Revenue Performance Engine framework, accelerate delivery of AI-driven capabilities, and reinforce its position in key markets globally. It is expected the transaction will close in the third calendar quarter of 2024 subject to customary closing conditions.In today's competitive landscape, coordinating and aligning territories, quotas, incentive programs, and other sales plans is critical to achieving sustainable revenue gains and operational efficiencies. Revenue leaders seeking more profitable growth are constrained by processes and tools that are not designed for dynamic planning. Varicent's cloud-based platform optimizes sales performance through advanced operational and analytical capabilities, addressing critical challenges for sales, finance, and HR teams. As a recognized leader in The Forrester Wave™: Sales Performance Management Platforms, Q1 2023, Varicent's integrated solution streamlines processes from sales territory design to quota allocation and incentive compensation, providing powerful insights that align sales behaviors with strategic objectives.With less than 50% of sales representatives having achieved quota since 20171, and nearly 70% continuing to miss their targets in 20242, there is an urgent need for solutions that optimize sales plans and drive peak performance
Varicent, the leading provider of next generation Sales Performance Management (SPM) software, has won the 2022 Innovative HR Team Award from Human Resources Director Canada (HRD Canada).
Varicent, the leader in Sales Performance Management (SPM), is proud to announce that Jason Loh has joined the company as its Chief Product Officer (CPO).
Varicent, the leading provider of next generation Sales Performance Management (SPM) software, is thrilled to announce that it has won a LinkedIn Talent Award in the category of Employee Engagement Champion.
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About Varicent
Industries
Data & Analytics
Enterprise Software
Company Size
501-1,000
Company Stage
Series C
Total Funding
$34M
Headquarters
Toronto, Canada
Founded
2003
There are no jobs for Varicent right now.
Find jobs on Simplify and start your career today