Spiff builds software to manage and automate sales commission programs, including a newly launched Spiff Designer model builder with hundreds of prebuilt commission models and features like type-ahead, error handling and testing. The product emphasizes self-service so sales and finance teams can manage commission plans without developer support and includes integrations with systems such as Salesforce. Since its last raise in 2021, Spiff doubled its customers to nearly 1,000 and doubled headcount to about 275, while growing revenue 100% in the past 12 months (with much of that growth occurring in the last quarter). Over the past three years the company grew 800% and has shifted from a fully custom-coded platform to a self-managed, almost no-code direction. With the new funding Spiff plans a “massive overhaul” of its core commission engine and intends to add more AI to enable near no-code or natural-language management of commission plans. The company is working toward profitability while continuing to invest in product and efficiency. Spiff provides a low-code/no-code sales compensation platform (Spiff Commission Designer) that automates commission calculations, offers a spreadsheet-like ease of use, and surfaces real-time visibility into earnings. The company emphasizes deep integrations with CRM and finance systems, notably Salesforce (with an iframe integration) and NetSuite (Built for NetSuite status). In 2020–21 Spiff redesigned its flagship product and was named one of G2’s top 10 fastest growing software companies of 2021 in its categories. Nearly 70% of Spiff’s customer base uses Salesforce as its CRM, reflecting strong product-market fit with that stack. The company says its customers reduce compensation calculation error rates materially (from ~5% to <1%, per investor commentary). The latest funding is intended to “put trust back into the commissions process” and accelerate enterprise adoption and deeper platform integrations. Spiff provides software that automates commission calculations and payments for corporate sales forces, aiming to create a new category around sales compensation management. The company serves customers including Brex, Workfront, Algolia and publicly traded Qualys. Spiff says its product reduces errors and time spent reconciling commissions, addressing a market where 85 percent of companies still calculate commissions manually. Salt Lake City–based Spiff plans to use new funding to expand its sales and marketing efforts and grow adoption of its platform. Jeron Paul, Spiff’s CEO, is a serial entrepreneur whose prior company, Capshare, was sold to Solium in 2017. Spiff offers a SaaS platform that automates sales commission calculations for salespeople and companies. The company says 90% of businesses rely on spreadsheets to calculate commissions and that it can take up to one month for sales representatives to learn about their commissions after deals close. Spiff processes $4 million in calculations every month across thousands of deals and works with SaaS vendors including Podium, Weave, Bitglass, Workato, Sendoso, HireVue and Lucid. Founder Jeron Paul launched Spiff in 2018; he previously started and sold several companies. The company projects the U.S. market for sales commissions at roughly $800 billion, with the broader incentive compensation market in the trillions. Spiff intends to scale its product to address the large number of salespeople the company says are seeking to eliminate manual paperwork and slow commission payouts.

Total raised

$112M

Funding rounds

4

Latest round

Series C

Latest activity

May 2023