What is Varicent Software?
Varicent Software, headquartered in Toronto, Canada, is a prominent provider of enterprise sales performance management (SPM) solutions. The company specializes in two core areas: Incentive Compensation Management (ICM), offering software for calculating and disbursing compensation to sales representatives and other performance-driven employees, and Sales Planning (SP), which encompasses territory and quota management. Varicent primarily caters to large enterprises with extensive sales forces and intricate compensation structures, positioning itself as a critical partner for optimizing sales operations and driving revenue.
How much funding has Varicent Software raised?
Varicent Software has raised a total of $45M across 2 funding rounds:
Series B
$10M
Series C
$35M
Series B (2007): $10M with participation from Royal Bank of Canada
Series C (2009): $35M led by FTV Capital
Key Investors in Varicent Software
Royal Bank of Canada
Royal Bank of Canada is a major financial institution that likely provides strategic capital and financial expertise to companies within its investment portfolio.
FTV Capital
FTV Capital is a growth equity firm that specializes in investing in innovative companies within the financial technology and enterprise software sectors.
What's next for Varicent Software?
The recent major enterprise-level funding for Varicent Software signals a strategic inflection point, likely aimed at accelerating its market penetration and enhancing its product suite. With a strong foundation in ICM and Sales Planning, the company is well-positioned to capitalize on the growing demand for sophisticated sales performance tools. Future initiatives may include expanding its technological capabilities, deepening its integration with existing CRM and ERP systems, and broadening its geographic reach. This capital infusion is expected to fuel further innovation and solidify Varicent's leadership in the competitive SPM landscape.
See full Varicent Software company page
