Spiff: The New Addition to Salesforce’s Portfolio of Automated Commission Management Solutions

Salesforce has announced plans to acquire Spiff, a platform that automates commission management for sales teams. The deal also constitutes the latest in a line of ecosystem companies that Salesforce has eventually brought in-house. Back in September Salesforce acquired Airkit, a low-code platform for building AI customer service agents. And similar to Spiff, Airkit was also available on AppExchange. So it’s clear that Salesforce continues to see tried-and-tested ecosystem companies as a safe bet for its M&A endeavors, with “low-code” playing a key factor too.

Salesforce, the prominent CRM company, has recently made a big announcement – they plan to acquire Spiff, the leading commission management platform for sales teams. The terms of this deal have not been disclosed by either party.

Founded back in 2017, Spiff prides themselves on offering a low-code interface that allows businesses to effortlessly generate a sales compensation plan, complete with dynamic updates based on personnel meeting their designated targets. With built-in integrations for popular enterprise CRM and ERP systems, Spiff boasts the ability to handle even the most complex commission structures, including any conditions that may trigger payments. In addition, sales representatives can view their earned commission in real-time.

The Utah-based startup has managed to secure over $110 million in funding throughout their six-year history, including investments from none other than Salesforce Ventures, the venture capital arm of Salesforce. Notably, Salesforce Ventures participated in Spiff’s Series B round in 2021 and also led their latest Series C round, investing $50 million earlier this year.

Once the acquisition is finalized, which is anticipated to occur in the early months of 2024, Salesforce plans to incorporate Spiff’s capabilities within their own Sales Performance Management software. This product is designed to connect customer and sales team data for seamless management.

It’s worth mentioning that this isn’t the first time these two companies have crossed paths. Spiff has been available on the Salesforce AppExchange for several years, showcasing their ongoing relationship.

This acquisition is just the latest in a string of ecosystem companies that Salesforce has brought under their wing. In September, they acquired Airkit, a low-code platform for constructing AI-driven customer service agents. Interestingly, the founders of Airkit had previously sold a data startup to Salesforce for $390 million in 2014 and had also received investment from Salesforce Ventures since their establishment in 2017. Similar to Spiff, Airkit was also featured on the AppExchange.

It’s clear that Salesforce values these well-established ecosystem companies as reliable choices for their M&A ventures, with the “low-code” aspect being a major factor in their decision making.

Avatar photo
Kira Kim

Kira Kim is a science journalist with a background in biology and a passion for environmental issues. She is known for her clear and concise writing, as well as her ability to bring complex scientific concepts to life for a general audience.

Articles: 867

One comment

Leave a Reply

Your email address will not be published. Required fields are marked *