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05/23/2007

Makana Solutions Announces $3 Million in Series A Funding

 

Makana Solutions, innovative developer of on-demand software for designing sales compensation plans, announced recently 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.

“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.”

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. “Makana” means reward in Hawaiian, and it’s no coincidence that the word figures prominently in Makana Solutions' name, since Hawaii represents the ultimate reward in many sales incentive programs.

The company’s mission is to help companies achieve strategic corporate objectives and to enable them to simply, cost-effectively, and efficiently compensate the individuals and teams who got them there.

Founded in 2004, Makana Solutions offers powerful tools that enable even occasional plan designers to devise and build effective sales comp plans that attract and retain key employees, motivate groups to work together to achieve corporate goals, and enable executives to predict costs associated with the plans. Built-in best practices lead users through the process. The outcome is easy-to-build plans that get results, and employees who know exactly what they must do to win.

For more information, see www.makanasolutions.com