PaletteHQ

PaletteHQ offers a cloud-based software-as-a-service platform tailored for finance and operations teams to design, manage, and automate sales commission plans. The company was established in December 2020 by Jean-Edern Lorillon, Fabien Pinel, and Jean-Yves Delmotte. Lorillon's background includes experience as a sales executive at Algolia, where he contributed to its significant customer growth. Pinel is a serial entrepreneur with a background in software development and user experience.

The firm's primary clients are B2B companies, ranging from mid-market to large enterprises. Its business model is subscription-based, with pricing tiers structured around the number of users. PaletteHQ generates revenue by automating the complex process of calculating sales commissions, thereby eliminating the need for manual spreadsheets. The platform serves as a single source of truth by integrating with a client's existing CRM, accounting software, and ERP systems.

The core of PaletteHQ's service is its powerful commission plan designer, which accommodates complex, transaction-based, and usage-based business models. Key features include the ability to automate calculations, handle commission splits, overwrite data manually, and leave comments to track changes. The platform provides real-time performance dashboards for sales representatives to track their earnings and quota achievement, which aims to increase motivation and transparency. For finance and operations departments, it offers tools for forecasting, scenario modeling, and reconciling CRM data with invoices to ensure commissions are paid accurately when revenue is collected. The company is SOC-2 Type II compliant, ensuring data security. In May 2022, PaletteHQ announced a $6 million seed funding round led by Bain Capital Ventures, with participation from Y Combinator, Liquid 2 Ventures, Twenty Two Ventures, and Kima Ventures, to fuel product development and market expansion.

Keywords: sales compensation management, commission automation, incentive compensation, sales performance management, commission calculation software, finance automation, revenue operations, sales commission tracking, quota achievement, compensation plan design, real-time dashboards, B2B SaaS, commission forecasting, sales incentive plans, SOC-2 compliant, automated commission payments, CRM integration, ERP integration, sales motivation, commission management