OPTYMYZE

Optymyze Pte Ltd began in 2013 with the Singapore company's purchase of a partially-designed and coded sales compensation management software product from SPM Software, Inc. for $5.5 million. The software had been used by SPM Professional Services in the provision of outsourcing services, but the technology needed a significant investment for it to be able to be used by enterprises on their own without the help of a service bureau. After receiving a commitment of $24 million in funding from E... lverta Capital in 2014, the company hired a President, built out a management team based in Silicon Valley, and ramped up to over 300 people, mainly in Asia and Eastern Europe, and in January 2015, the company debuted as a Visionary on Gartner's 2015 Magic Quadrant for Sales Performance Management. During 2015, the company released its first enterprise software product and signed its first enterprise software customer (ARR of $1,050,000). One year later, in January 2016, Gartner recognized the company's new set of SPM products with a move from being a Visionary in 2015 to being a Leader in the 2016 Magic Quadrant for Sales Performance Management. Two years later, in January 2018, Gartner recognized the new Optymyze sales compensation management platform as a service with improved positioning in the Leaders Quadrant on the 2018 Magic Quadrant for Sales Performance Management. The new sales compensation platform was designed from scratch for the cloud and elastically scales to hundreds of data sources, thousands of users, and millions of gigabytes of data processed per month. Since then, Optymyze Pte Ltd has been a reseller and distributor of the original 2015 Optymyze SPM products and the 2017 sales compensation management platform as a service that the company developed, and most recently, a reseller and distributor of the 2019 Optymyze no-code enterprise automation system for doing no-code data operations and user app development (developed by Optymyze Group Limited).More