French pay management company Qobra has secured €10 million in funding. The round was led by Singular and includes participation from Revenue Syndicate and long-term backer Breega who led Qobra's previous €5 million funding round.
Simplifying how sales commissions are paid, the Qobra solution automates the information from across management, financial decision-makers, sales teams, and human resources to streamline pay management systems.
"Variable pay is the No.1 sales investment for the vast majority of B2B companies, and the commission plan is one of the most powerful tools management has to guide the behaviour of its sales staff. We are part of the new generation of software that is more flexible and more motivating for sales teams," says Antoine Fort, co-founder and CEO of Qobra.
The fresh funding will see the French firm further its growth in the UK, it will open its London office in 2024. Sights are set for the US and the funding will allow it to explore other international opportunities.
"We're seeing a lot of interest 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," says Fort.
Lead image: Qobra founders Tanguy Moulle CTO, Antoine Fort CEO, and Axel Poitral CPO (left to right). Photo: Uncredited.