SAN JOSE, Calif., March 10, 2011 /PRNewswire/ -- Xactly Corporation, the leader in on-demand sales performance management (SPM), has been named to The Wall Street Journal's prestigious list of the "Top 50 Venture-Backed Companies." Xactly ranked number three in the annual ranking, which was announced on March 10, 2011(1).
According to The Wall Street Journal, "To be eligible for the ranking — compiled by research firm VentureSource, a unit of Journal owner News Corp. — companies must have received an equity round of financing in the past three years and be valued at less than $1 billion." It also noted that "Some 5,743 candidates were considered."
The "Top 50 Venture-Backed Companies" rating seeks to identify organizations that "have the greatest promise to succeed." Companies were selected based on the track record of success for the venture-capital investors who sit on the company's board, the amount of capital raised by the company over the past three years, an editorial ranking, the track record of success for the entrepreneurial CEO and founders, and the recent growth in value of the company.
"Five years ago, Xactly took a gamble on a new approach to an age old problem – finding a better way to motivate sales personnel," said Christopher Cabrera, president and CEO, Xactly Corporation. "Today, more than 340 customers of all sizes and industries rely on our 100 percent SaaS-based solutions to better manage their sales compensation and drive improved rep behavior and business results. Being named to The Wall Street Journal's 'Top 50 Venture-Backed Companies' is further testament to the success of our business, products, and people, as well as to our Venture Capital partners who had the foresight to take a chance on a then little-known model called Software-as-a-Service."
Xactly was founded by Cabrera and CTO, Satish Palvai in 2005. A pioneer in Software-as-a-Service (SaaS), Xactly was the first company to offer a 100 percent on-demand solution for managing incentive compensation management – eliminating the need for expensive on-premise software solutions and opening the door for customers of all sizes to benefit from automated, real-time visibility into sales performance. Xactly has delivered record business performance every year since its inception – including increasing year-over-year revenues by more than 50 percent in both 2009 and 2010.
Xactly investors include Alloy Ventures, Bay Partners, Bridgescale Partners, Cheyenne Partners, Glynn Capital Management, Key Venture Partners, Outlook Ventures, Rembrandt Ventures and salesforce.com.
About Xactly Corporation
Xactly Corporation is the market leader in on-demand sales performance management. The company's SPM Suite of products, enables sales and finance executives to design, implement, manage, audit and optimize sales compensation management programs easily and affordably. Xactly's solutions automate the process of aggregating data from disparate systems into a secure, hosted repository, and enable companies to leverage this business data, which is the lifeblood of sales performance management. Xactly helps companies improve operational performance, optimize sales effectiveness, proactively manage risk and compliance, and maximize profits. The Xactly family of products is used by sales and finance executives, compensation analysts, sales operations and sales professionals across a variety of industries, ranging from SMBs to large enterprises. For more information, visit www.xactlycorp.com or call 1-866-
(1) The Wall Street Journal, "Web in Money Magnet - The Top 50 Venture-Backed Companies," Colleen Debaise and Scott Austin, March 10, 2011
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