SAN FRANCISCO--(BUSINESS WIRE)--CaptivateIQ, the leading incentive compensation management (ICM) solution, today announced that it has received a strategic investment from Workday Ventures and joined the Workday Software Partner Program. As a Workday Software Partner, CaptivateIQ plans to build a product integration for shared customers, which will help serve the needs of enterprises facing challenges in transforming rigid, outdated incentive compensation systems.
Through an integration with Workday Human Capital Management, customers will be able to automate employee lifecycle management – such as new hires and departures – to more easily calculate commission payments within CaptivateIQ. This partnership will bolster Workday’s presence in the ICM market, and enable both companies to jointly deliver a world-class integration and automation experience for performance-based teams.
“Enterprise workforces require a robust, flexible solution to manage incentive compensation for large teams with complex compensation plans,” said Mark Schopmeyer, co-CEO and co-founder of CaptivateIQ. “This investment from Workday Ventures is a testament to our ability to support enterprise customers at scale now and into the future.”
“CaptivateIQ and Workday share a commitment to deliver modern solutions to automate manual work and provide real-time data and insights,” said Mark Peek, managing director and head of Workday Ventures. “Together, Workday and CaptivateIQ will be able to help customers more effectively provide transparency in how their employees are rewarded for their efforts.”
About CaptivateIQ
CaptivateIQ is on a mission to bring transparency and joy to incentive compensation management. We believe that getting paid should be fun and that work should be a breeze for compensation plan administrators. Yet, most companies still rely on spreadsheets or legacy software providers to manage this significant and influential line item in a sales budget. That’s why we’ve created a scalable, flexible, no-code solution that enables finance and operations teams to model, automate, and optimize performance incentives. Twenty of the Forbes’ Cloud 100, including leading brands like Amplitude, Gong, and Hopin, use CaptivateIQ to power their incentive compensation programs.
To learn more, visit www.captivateiq.com and follow @captivateiq.
About Workday Ventures
Workday Ventures is the strategic investment arm of Workday, Inc., focused on accelerating the growth of emerging enterprise software companies that enhance the Workday customer experience and are complementary to Workday products and services. The $250 million fund was launched in February 2018 with investments in areas including employee engagement and talent acquisition, integration and robotic process automation, strategic sourcing and spend analytics, and financial management.
