Qobra raises €5m with which to reform business’ sales processes and fuel its international development.
Paris, 1st March, 2022 – Qobra, a startup specialised in sales compensation software, has just raised €5 million in a first round of financing led by Breega and accompanied by their business angels. This fundraise will allow Qobra to recruit around 30 new talents with which to accelerate its development in France and abroad.
Founded in July 2020 by Antoine Fort, Tanguy Moullec and Axel Poitral, Qobra has developed an easy-to-use digital sales compensation platform for businesses. In order to accelerate its growth, the Paris-based startup has closed a €5M seed round with Breega and several business angels.
Cash compensation for sales teams is the single largest sales cost component for most B2B companies. Despite this, companies struggle to manage sales commissions efficiently, often relying on manual, complicated and time consuming processes and Excel files that are difficult to decipher and prone to errors.
Thanks to Qobra’s innovative no-code platform combining the flexibility of an Excel sheet with the power of a software, companies can now automate any commission calculation rule quickly and seamlessly, thereby improving the confidence and motivation of their teams.
« Commission calculation is both complex and critical. Every company has a unique commission plan that is even more complex than payroll because it involves a lot of business data, stored in varying tools, with different rules for different teams, which also tend to change over time«
says Antoine Fort, co-founder and CEO of Qobra.
Any company, regardless of size, sector or geography that pays variable compensation to its sales teams can use Qobra. They simply connect Qobra to their CRM and then define the calculation rules in the formula editor.
« Our software aligns the sales, finance and HR teams, » said CEO Antoine Fort. « We usually work with companies that have a minimum of 20 sales people. »
In just 12 months, Qobra has dealt with over €100 million in commissions on its platform from a number of large clients, including Doctolib, Spendesk, Agicap and LaForêt Immobilier.
Vladimir Ionesco, Doctolib’s Director of Business Performance, who has tested Qobra on more than 500 users, vouches for the quality of the product and the service provided:
« Given the level of requirements at Doctolib, I have rarely seen an implementation receive so much positive feedback”.
Thanks to this first round of financing, Qobra will be able to recruit around 30 new talents, notably in its Tech & Product teams, and continue developing its software offering with new features. The startup will add new integrations to support all major CRM, HRIS, ERP, Data Warehouse tools and introduce new formulas in its calculation rules editor.
Maximilien Bacot, Founding Partner at Breega adds:
« Qobra enables companies to motivate their sales teams by giving them a detailed real-time view of their current and projected commissions. With Qobra, companies can measure the effectiveness and impact on revenue of their compensation plans. All data is automatically exported to payroll software, reducing both errors and duplication. It is a powerful tool with real value-add that is set to grow. Breega is delighted to support the Qobra team in its ambition to become the leading European sales software suite”.
Qobra’s ambition is to become the European leader in the sales compensation market and to go on to reform business sales processes by developing an entire software suite. Following this fundraise Qobra will accelerate its commercial development in France and internationally, starting with Germany and the UK.