TORONTO, OCTOBER 6, 2020 —Varicent today announced that it has acquired the FunnelCake solution for the strategic expansion of Varicent’s sales performance management product line, helping clients maximize capabilities to Plan, Operate, and Pay.
FunnelCake is a Revenue Operations Platform that helps customers drive efficient growth across sales, marketing, and customer success. From lead to revenue, FunnelCake enhances the CRM ecosystem to improve information. Delivering new levels of accurate data for analytics means better actions and outcomes for sales teams. Results improve pipeline health across sales and marketing for improved lead response time, continuity of account ownership, maximized opportunity engagement, and improved coaching moments.
Headquartered in Toronto, Varicent provides SaaS-enabled operational and analytical tools that automate the creation, calculation, analysis, and transparent distribution of sales incentive management compensation plans used by hundreds of mid-market and enterprise companies.
“Varicent’s core mission is to unlock the untapped potential in an organization’s go-to-market. Varicent, including its Symon.AI technology, accomplishes this through a combination of driving efficiencies and improving effectiveness. The addition of FunnelCake provides Varicent the opportunity to expand into day-to-day sales operations by including best-of-breed technology for pipeline coaching and progression,” said Marc Altshuller, President and CEO of Varicent. “FunnelCake also deepens Varicent’s Salesforce.com integrations and expertise, which we’re confident will lead to even bigger customer outcomes.”
"When Varicent approached us, it clicked just how much sense this makes," said Marko Savic, CEO and Founder of FunnelCake. "It's validation that a focus on revenue operations is the right path forward. The announcement today creates a world-class offering to solve real revenue operations issues. Sales, marketing, and customer success can collaborate to provide a positive customer experience through insights and action — common areas where CRM investments fall short. I'm excited to join the Varicent team knowing that by adding FunnelCake we complete the bridge between Varicent's planning and variable pay capabilities, allowing clients to now Plan, Operate and Pay."
“The need to manage revenue operations and overall performance across the organization and sales channels drives the requirement for applications designed to optimize for desired outcomes,” said Mark Smith, CEO and Chief Research Officer at Ventana Research. “Varicent’s strategic move to onboard the FunnelCake application and team will bolster its ability to bring a revenue focus to its sales performance management portfolio of applications.”
Financial terms of the asset transaction were not disclosed.
For more information, please visit www.varicent.com.
Varicent helps clients accurately track, manage, and report on sales processes through the industry-leading Sales Performance Management (SPM) solution. Clients realize bottom-line efficiencies and top-line results through sales dashboards and models for better decision making at all levels of the business.
Varicent includes business tools for Incentive Compensation Management, Territory, Quota, and Channel Management. Its augmented intelligence-powered platform enables customers to quickly and easily see and address sales trends, problem areas and opportunities by predicting outcomes and prescribing actions to optimize revenue.
Established in 2005, Varicent innovated the incentive compensation and sales performance software industry for clients in the Fortune 500 numbering from hundreds to tens of thousands of sellers. Varicent clients include vertical industries, including high-tech, financial services, medical devices, pharmaceuticals, entertainment, hospitality, media, telecommunications, and transportation. Learn more at Varicent.com. In January 2020, Great Hill Partners and Spectrum Equity supported the acquisition of Varicent.
Director, Corporate Marketing