# Spiff

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/spiff

- Industry: Software
- Headquarters: Sandy, US
- Website: www.spiff.com
- Total disclosed funding: $115M
- Latest round: Series C (May 16, 2023)
- Investors on record: 10

## About

Spiff Inc. is a US-based SaaS platform providing advanced commission management solutions that simplify tracking and calculation processes for organizations, enhancing sales efficiency and transparency.Spiff Inc. specializes in developing commission management software. Founded in 2017, the company is headquartered in Sandy, US. The founders include Albert Candari, Casey Crouch, Jean-Philippe Maitre, and Matt Stapleton. In December 2023, Spiff was acquired by Salesforce, Inc. for USD 419.00 mn, marking a significant milestone in its growth strategy. The company has completed a total of 7 deals since its inception, with the most recent deal occurring on December 18, 2023. The total amount raised by Spiff is USD 419.00 mn.Spiff, Inc. specializes in commission management software designed to streamline the complexity of commission tracking and calculation processes for organizations. Their core offering integrates seamlessly with Salesforce, combining the user-friendly interface of a spreadsheet with advanced automation capabilities. This software enables businesses to create and manage commission plans efficiently, ensuring transparency, real-time visibility, and flexibility throughout the commission process. By leveraging data-driven insights, Spiff aims to motivate sales teams and enhance job satisfaction while driving greater productivity. The company primarily serves enterprise clients across various sectors, including finance, operations, and sales, with a customer base spanning North America and Europe.Spiff generates revenue through its subscription-based model, which provides clients access to its comprehensive commission management platform. This model typically involves tiered pricing plans tailored to the complexity and scale of each organization’s commission programs. Clients engage with Spiff to implement and manage their commission structures, with transactions generally occurring on an annual or monthly basis based on the selected subscription plan. The platform's capabilities facilitate automated commission calculations, helping firms maintain accuracy and compliance, thereby enhancing operational efficiency and strengthening relationships between sales and finance teams.In December 2023, Salesforce, Inc. agreed to acquire Spiff Inc. for USD 419.00 mn as part of a strategic initiative to enhance visibility, accelerate sales, and support expansion. This acquisition is expected to bolster Spiff's business offerings and facilitate entry into new markets. Plans for future growth include the development of new product features aimed at improving commission management and the potential expansion into additional geographic regions, specifically targeting markets beyond North America and Europe. The funding from the acquisition will support these initiatives, enhancing Spiff's operational capabilities and market reach.

## Funding rounds

- Series C, May 16, 2023, $50M — Lightspeed Venture Partners, Norwest Venture Partners, Kickstart, Album VC, Salesforce Ventures
- Series B, Jun 1, 2021, $46M — Lightspeed Venture Partners, Norwest Venture Partners, Stripes, Salesforce Ventures
- Series A, Jun 26, 2020, $10M — EPIC Ventures, Norwest Venture Partners, Peterson Partners, Kickstart, Next World Capital, Album VC
- Seed, Nov 7, 2019, $2.8M — Peterson Partners, Kickstart, Album VC
- Seed, Oct 21, 2019, $6M — Peterson Partners, Kickstart, Album VC, Pipeline Capital Partners

## Investors

- Peterson Partners (https://capitalatlas.ai/funds/peterson-partners) — Seed, Series A
- Kickstart (https://capitalatlas.ai/funds/kickstart) — Seed, Series A, Series C
- Album VC (https://capitalatlas.ai/funds/album-vc) — Seed, Series A, Series C
- Pipeline Capital Partners (https://capitalatlas.ai/funds/pipeline-capital-partners) — Seed
- EPIC Ventures (https://capitalatlas.ai/funds/epic-ventures) — Series A
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series A, Series B, Series C
- Next World Capital (https://capitalatlas.ai/funds/next-world-capital) — Series A
- Lightspeed Venture Partners (https://capitalatlas.ai/funds/lightspeed-venture-partners) — Series B, Series C
- Stripes (https://capitalatlas.ai/funds/stripes) — Series B
- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series B, Series C