Performio, a West Hollywood, CA-based incentive compensation software company, raised $13 million in growth capital financing.
The financing round was from CIBC Innovation Banking.
CIBC Innovation Banking delivers strategic advice, cash management, and funding to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from startup to IPO and beyond. With offices in Atlanta, Austin, Boston, Chicago, Denver, Durham, London, Menlo Park, Montreal, New York, Reston, Seattle, Toronto and Vancouver.
Performio Use of Funds
The financing will support Performio's growth plans and the further development of its innovative platform.
Performio offers a Software-as-a-Service (SaaS) platform designed to simplify and enhance incentive compensation management. Their platform helps organizations streamline the complex process of paying employees based on their performance. It provides real-time insights, automates commission calculations, and enables data-driven decision-making to improve sales performance. Headquartered in Irvine, California, and with offices in San Francisco and Melbourne, Performio continues to offer sales performance management software for businesses looking to automate their sales compensation calculations and provide increased transparency to their sales reps.
Round: Growth Capital
Funding Month: September 2023
Lead Investors: CIBC Innovation Banking
Company Website: https://www.performio.co/
Software Category: Compensation Management Software