CellarStone, a provider of cloud based sales performance management solutions, is to receive funding from Seattle-based Lighter Capital.
The financing will be used to expand the sales and marketing of the CellarStone solutions.
“Lighter Capital started following our company and the sales performance management market space a few years ago. With 17 million salespeople in the USA alone, the sales commission market space presented a tremendous opportunity,” says Gopi Mattel, CEO of CellarStone. “Lighter Capital was also particularly interested in our cost-effective business model in solving the sales commission management problem.”
“CellarStone’s veteran leadership, profitable and solid growth, sophisticated technology, compelling market presence and proven business model made it clear that this was a great company to invest in,” says BJ Lackland, CEO of Lighter Capital. “We are thrilled by the addition of CellarStone to our investment portfolio. CellarStone’s recent acquisitions of webKPI and CommTrack also allows expansion into more business opportunities. We’re excited to be their financing partner through the company’s next phase of growth and hope to provide more funding as growth accelerates.”
