TORONTO, June 15, 2021 (GLOBE NEWSWIRE) -- Flow Capital Corp. (TSXV: FW) (“Flow Capital”) today announces that it has provided an investment to Performio, an Irvine-based SaaS software Incentive Compensation Management solution.
Founded in Melbourne, Australia in 2006, Performio was designed to be flexible and easy to use for mid-market and enterprise companies looking to automate their sales compensation programs. Since its inception, Performio has processed over $2 billion in commissions and has saved its customers over 1 million administrative hours. With Flow Capital’s investment, Performio is aiming to accelerate its growth within the US.
“Performio saw over 100% revenue growth in North America in 2020. Flow Capital’s investment will help them invest in sales and marketing more aggressively to further accelerate that sales momentum globally,” said Alex Baluta, Chief Executive Officer of Flow Capital. “We look forward to supporting Performio on the next leg of its growth.”
“We are delighted to partner with Flow Capital in this next stage of Performio’s growth,” said Grayson Morris, Chief Executive Officer, Performio. “This investment is a testament to the strong growth in North America that we have experienced since we entered the US market in 2018. The team at Flow Capital is comprised of seasoned software investors and we are looking forward to a dynamic partnership.”
Headquartered in Irvine, California, and with offices in San Francisco and Melbourne, Performio is a new breed of incentive compensation management software that combines enterprise-grade functionality with the ease of use required of modern software applications. Their product is used by large global enterprises such as Veeva, Optus, REA, Johnson & Johnson, and Vodafone, as well as growing mid-market companies worldwide. Performio's feature-rich cloud application enables enterprises to automate their sales compensation calculations, provide increased transparency to their sales reps, and adapt to changing market conditions with confidence. For more information, visit www.performio.co.
About Flow Capital
Flow Capital Corp. is a diversified alternative asset investor and advisor, specializing in providing minimally dilutive capital to high-growth businesses. To apply for financing, visit www.flowcap.com.
For further information, please contact:
Flow Capital Corp.
Chief Executive Officer
1 Adelaide Street East, Suite 3002,
PO Box 171,
Toronto, Ontario M5C 2V9