Performio provides a cloud-based sales performance management platform that sales and finance teams at organizations use to manage, calculate and communicate incentive compensation information.
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Irvine-based software company Performio has received a $75 million growth investment led by JMI Equity.
Along with the financing, JMI Chairman Paul Barber and Vice President Jack Duane have joined Performio’s board.
Performio provides a cloud-based sales performance management platform that sales and finance teams at organizations use to manage, calculate and communicate incentive compensation information, a complex process that is frequently performed manually. Performio said the funding will support and accelerate the company’s innovation and advancement of products for automating incentive compensation management.
In other L.A.-area tech and startup news:
- Impulse Space Inc., an El Segundo-based company developing in-space transportation services for the inner solar system, has secured $10 million in funding by Lux Capital. The financing follows the company’s recently raised $20 million seed round led by Founders Fund. Launched in September by CEO Tom Mueller, a founding member of SpaceX, Impulse aims to provide economical last-mile space payload delivery services spanning in-space transportation, orbital transport of satellites to optimal orbits, in-orbit servicing, space debris deorbit and space station orbit keeping.
- Los Angeles-based Tango, a workflow intelligence platform that aims to streamline the creation of process documentation, has raised $14 million in Series A funding, bringing its total funding to $19.7 million. Tiger Global Management led the round, with Slack Fund and Atlassian Ventures participating. Existing Tango investors also participated, including Wing VC, General Catalyst, GSV Ventures, Red Sea Ventures and Outsiders Fund. In conjunction with the funding, Zach DeWitt, partner at Wing VC, will join Tango's board. Tango launched its Chrome extension in September and now has 100,000 users.
- L.A. fan engagement platform Tally Technology has closed an oversubscribed $4 million seed round. The financing was led by Acies Investments, a venture fund focused on the sports wagering, sports technology, iGaming and esports industries. Tally Technology was founded in 2018 as a free-to-play prediction game for brands, professional sports teams, leagues and media platforms seeking a turnkey fan engagement platform. As part of the natural game play, Tally is building a database of unique users and gathering data on those users' gaming, wagering, brand preferences, consumer spending and other insights.
- Kairos Ventures, an early-stage venture capital firm based in Beverly Hills that invests in physical and life sciences, has closed its third fund with capital commitments of $58 million. Kairos said Fund III has made 27 investments in companies and is close to fully invested. Founded in 2015 by Jim Demetriades, Kairos has invested in more than 55 companies.
