Centive
Technology solutions to companies' sales compensation and sales performance management.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor investor investor investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
| investor investor investor investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
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Centive, Inc. was a developer of on-demand software solutions focused on sales performance and incentive compensation management. The company was founded in 1997 and established its headquarters in Lowell, Massachusetts. Centive's core business involved providing technology that automated the complex processes of managing and calculating incentive-based pay for sales teams. This addressed the need for companies to accurately track and distribute commissions and bonuses.
The company successfully secured significant investment to fuel its growth, raising a total of $12.4 million from investors including BancBoston Ventures, Dow Venture Capital, and Mellon Ventures. Another source indicates a total funding of $85M over several rounds, including investments from Polaris Partners and KeyBank. This funding supported the development and marketing of its incentive management software. Over its history, Centive grew to have approximately 50 employees.
In a significant milestone, Centive, Inc. was acquired by Xactly Corporation on January 22, 2009. This acquisition integrated Centive's technology and expertise into Xactly's broader suite of sales performance management tools, marking the conclusion of Centive's journey as an independent, venture-backed company.
Separately, a different entity named Centive Technologies Corporation was founded in Singapore in 2018. This company announced plans to create a blockchain-based incentive network for transactions between businesses and consumers, covering areas like cashbacks, affiliate networks, and crowdfunding. It was reportedly helmed by executives with backgrounds at Rocket Internet and Alibaba and secured pre-seed funding in August 2018. Keywords: Centive Inc, sales compensation software, incentive compensation management, sales performance management, commission calculation, automated compensation, Xactly acquisition, venture-backed, Lowell startup, sales automation technology, Centive Technologies, blockchain incentive network, sales commission tracking, compensation plan management, performance management software