Following our initial fundraising of €5M in March 2022, led by the Breega Seed investment fund, we are now proud to announce our €10M Series A!
Before explaining the origins and objectives of this latest round of funding, we'd like to thank our entire team, our customers, partners, investors and everyone who has contributed in any way to the development of Qobra!
1. Commissions, a strategic topic not yet mastered by companies
Although the annual amount dedicated to variable remuneration for sales reps represents between 2 and 3 trillion dollars, Antoine Fort, Tanguy Moullec and Axel Poitral, three Centrale Supélec alumni, realized that this investment was rarely controlled.
Commission management often relies on manual spreadsheets, which lack clarity, agility and reliability. Manual errors easily slip into Spreadsheets, causing, among other things, numerous back and forths between different departments.
Ultimately, it leads to a loss of time and money and creates frustrations and a lack of trust within the sales teams. And as proof, according to certain studies, more than 90% of Excel files contain errors.
"Before Qobra, for 100% of the payslips I received, I had this little reflex to check whether the commissions were correct".
Matthieu Saroli, Entreprise Account Executive at Didomi
To overcome these problems, we decided to found Qobra, and revolutionize commission management!
"Sales Compensation is the number one go-to-market investment for the vast majority of B-to-B companies, and the commission plan is one of the most powerful tools Management can use to guide salespeople's behavior. We are part of the new generation of software that is more flexible and more motivating for sales reps."
Antoine Fort, co-founder and CEO of Qobra
2. Qobra, an innovative platform serving commercial performance
In order to make commissions the primary lever of motivation and commercial performance for companies, we have therefore developed a no-code platform, allowing, among other things, to implement precise calculation rules and automate the calculation of commissions.
To make automated commission calculations possible and scalable, our platform is compatible with the majority of CRM, ERP and data warehouses on the market (Salesforce, Hubspot, Pipedrive, Microsoft Dynamics, Google Big Query, Snowflake, PostgreSQL, Zoho, Amazon Redshift, etc.). In this way, data is collected at source and in real time, making commission calculations more reliable and limiting the margin for error!
A revolution that allows Operations and Finance teams to save precious time and ensure the reliability of commission data.
"That's about 4 days a month we're saving with Qobra compared to Excel."
Maximilien Jooris, Head of Revenue Operations at Agicap
Our solution also provides management teams and senior management with global visibility of performance and the entire budget dedicated to commissions.
As for the sales reps, the end-users of our platform, they have total transparency over their objectives in real time, making variable commissions a real driver for motivation and sales performance. And as proof check out what our customers think!
"Since we've been using the Qobra tool, we've seen a 10% to 15% increase in results."
Romain Darbon, Business Manager at Figaro Classifieds
Now deployed with major customer accounts, we are making it possible to streamline information across the entire payment chain and align all the company's stakeholders: management, financial decision-makers, sales reps and human resources.
Qobra meets the needs of all companies with more than 100 employees where sales reps receive variable compensation.
Building on our success, we've already won over 100 companies in more than 10 countries (France, UK, USA, Canada, Brazil, Germany, Sweden, Denmark, Spain, Italy, Czech Republic, etc.), including Doctolib, CoachHub, Make, Agicap, Figaro Classifieds and Payfit!
"We're seeing strong traction from customers in different verticals, such as advertising agencies, pharmaceuticals, medical devices, real estate, financial services, insurance brokers, automotive... Everyone in sales-led sectors needs us, and we know how to help them."
Antoine Fort, co-founder and CEO of Qobra
3. The ambition to become the world leader in commission management
Following our first round of funding in March 2022, we can boast annual growth of 300%!
Today, we are proud to have validated our model, and above all to be able to respond to the needs of companies wishing to increase their sales rep performance and simplify their commission processes.
With this new €10m round of funding, Qobra's mission continues, and will begin in particular by accelerating new international acquisitions, especially in the UK, where we will be opening an office in London early 2024.
With the ambition of becoming the world's number 1 commission management platform, this round of financing will also enable us to double our workforce in 2024, from 30 to 60 employees!
We also plan to develop new functionalities on our commission management platform, and we want to go even further by expanding our product offering on our platform.
The final word...
💜 The entire Qobra team would like to thank you for taking the time to read about us, our story and ambitions!
To find out more about our platform, please contact us. We'll be delighted to help you manage your commissions.