Makana Solutions Inc., a
LEXINGTON, Mass.–(BUSINESS WIRE)–Makana Solutions, innovative developer of on-demand software for designing sales compensation plans, announced today that it has secured $3 million in Series A financing from TD Capital Ventures.
TD Capital Ventures joins seed investor William J. Warner, founder of Avid Technology, Inc., and Wildfire Communications, Inc., in backing Makana Solutions with equity financing. The money will be used for product development and launch. Makana Solutions products are geared to small- and medium-size businesses.
Joining Forces to Alleviate the Pain of Sales Comp Planning
“I've been both a CFO and a CEO with responsibility for sales compensation, so I know first-hand how challenging it is to create solid, predictable, yet motivational plans,“ said Daniel A. Keshian, managing director of TD Capital Ventures. “Liz Cobb is a leader in sales incentive management who has already founded two companies in the field. She and her team have created a next-generation solution that will dramatically improve companies' chances of getting a handle on their sales incentives and using it to push toward their corporate goals.“
“I understand the complexity of designing great sales compensation programs and know these planners need better tools tailored to their needs,“ said Elizabeth Cobb, Makana Solutions president and CEO. “I'm excited to be delivering the first product to the market that will truly help this audience, and it's gratifying to have TD Capital Ventures validate our vision and share their significant operations expertise.“
About TD Capital Ventures
TD Capital Ventures is one of the investment groups of TD Capital, the independent private equity arm of TD Bank Financial Group. Located in Boston, TD Capital Ventures invests in early- and growth-stage companies with significant technology assets operating in various industry sectors, including enterprise software; IT infrastructure; semiconductor; and wireless and emerging technologies. The group's eight investment professionals have strong investment, technology, and operating experience. TD Capital, established more than 30 years ago, has US$1.9 billion of capital under management through its offices in Canada and the United States. For more information on TD Capital and its investment groups, go to www.tdcapital.com.
About Makana Solutions
Makana Solutions' on-demand software helps companies design, model, and communicate sales compensation. When properly designed and paid, incentive plans communicate company goals and tell teams how to pull together to achieve them. For more information, see www.makanasolutions.com.