Revcast, a Raleigh, NC-based revenue capacity management platform designed to empower modern revenue operations leaders to plan, manage, and optimize sales capacity, raised $3 million in a seed funding round.
The round was led by CRV, with significant contributions from investors including Coughdrop Capital, Firsthand Alliance, IDEA Fund Partners, Lorimer Ventures, Tiferes Ventures, and Oldslip.
The newly raised capital will be used to further develop Revcast's vision of creating a central and transparent hub that assists organizations in building and managing revenue plans.
Revcast is driven by a mission to overhaul the traditionally spreadsheet-dominated realm of RevOps, with a focus on quotas, hiring plans, ramps, and attrition rates. Revcast's software provides real-time insights into sales team staffing, "quota-on-the-street" metrics, onboarding ramp times, and performance against projections by integrating with CRM and HR systems.
In addition to streamlining the RevOps process, Revcast aims to enhance visibility into revenue planning across the enterprise, recognizing the growing importance of the modern RevOps function. The company envisions providing agile data and transparency that enable CEOs, CFOs, CROs, and sales leaders to better understand their business, manage risks, and optimize revenue.
Eric Boduch, Revcast CEO said, “We feel that a strong RevOps team, backed by software purpose-built for RevOps, can radically change how people build and manage their revenue organisations, how they plan, how they identify and mitigate risks, how they adjust to changing market conditions to optimize how they allocate team members and resources to maximize the achievement of revenue. We feel that execution here can have a profound impact on the value of a business.”
Company: Revcast
Raised: $3.0M
Round: Seed Round
Funding Month: July 2023
Lead Investors: CRV
Additional Investors: Coughdrop Capital, Firsthand Alliance, IDEA Fund Partners, Lorimer Ventures, Tiferes Ventures, and Oldslip
Company Website: https://www.revcast.com/
Software Category: Revenue Operations (RevOps)
About the Company: Revcast, founded as the first startup from venture studio 24 and Up, aims to revolutionize the spreadsheet-dominated world of RevOps. The platform focuses on areas such as quotas, hiring plans, ramps, and attrition rates, aiming to increase transparency, identify risks, and uncover missed opportunities. The Revcast solution is purpose-built to drive revenue predictability, improve business agility, and help revenue teams identify risk and opportunity sooner. The company firmly believes that purpose-built software can greatly enhance revenue planning processes.
Source: https://fintech.global/2023/07/03/revcast-the-pioneer-of-modern-revops-secures-a-robust-3m-seed-round/