Palette sells a sales commission tool for modern sales teams – TechCrunch

Meet Palette, a software-as-a-service startup that will be especially interesting if you also run a software-as-a-service startup. The company has built a modern tool to design, manage and optimize sales commission plans for your internal team.

Earlier this year, the startup raised a $6 million funding round led by Bain Capital Ventures. Liquid 2 Ventures, Twenty Two Ventures and Kima Ventures also took part in the round, as well as several business angels such as Mathilde Collin, Nicolas Dessaigne, Julien Lemoine, Nick Mehta, Allison Pickens, Thejo Kote, Kyle Porter, Adam Pettit, Danny Zorotovich and Peter Kazanjy.

What makes Palette different from other commission management solutions is that it integrates with many different sales products. For example, the product can retrieve data from all major CRM platforms (Salesforce, Hubspot, Close.io, Sellsy, Outreach, and Pipedrive), various billing services, such as Stripe, Chargebee, QuickBooks, and Xero, as well as raw SQL databases.

Once your data is centralized in Palette, the product can act as a single source of truth. You can set up different conditional rules and test different scenarios until you get to the right commission plan.

Sales team members can connect to Palette at any time and see how many deals they’ve closed this quarter and if they’re on track to hit their quota. This way they don’t have to keep track of their progress in their own Excel spreadsheet.

When it’s time to make payouts, you can export your commission data as a CSV file. It can be imported into major payroll platforms, such as Gusto, Rippling, Payfit, and ADP.

Palette co-founder and CEO Jean-Edern Lorillon lists Xactly, Captivate IQ and Spiff as potential competitors. But the reality is that many companies still rely on Excel spreadsheets to calculate commissions because they run into limitations.

For example, if you sell a product with different tiers and add-ons, you may find yourself comparing apples to oranges. Likewise, if your customers pay more when they use the product more, you’ll want to reflect this usage-based pricing in your commissions.

In other words, Palette wants to build the sales commission platform for businesses with customer success managers and ongoing sales operations. The startup focuses on medium-sized companies with 100 to 1,000 employees. Some companies that use Palette include Nextech AR, EverCommerce, Gorgias, Mews, Kandji, and GetAccept.

Image Credits: Palette

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