Xactly Corporation provides cloud-based incentive compensation solutions for employee and sales performance management in the United States and the United Kingdom. The company offers Xactly Incent Enterprise, which helps large enterprise and mid-market companies manage the critical elements of incentive compensation; Xactly Incent Express, an incentive compensation solution for companies with fewer than 350 employees; and Xactly Objectives, a solution for sales and non-sales personnel, allowing managers and employees to collaboratively track and achieve individual and shared goals. It also offers Xactly Insights, a solution that helps its customers to motivate employees and drive business pe...
300 Park Avenue
San Jose, CA 95110
Founded in 2005
Kareo Improves the Health of its Sales Comp Process with Xactly
Nov 17 15
Xactly announced that Kareo has chosen Xactly to manage its complex incentive plans, and reorganize the responsibility of sales compensation within the company. Previously, Kareo was calculating compensation manually, but as the company continued to grow, executives knew the status quo would not be able to scale with the changing needs of the organization. Kareo will be using Xactly to streamline its complex plans as well as shift the responsibility of commission calculation from Sales Ops to Finance. This move will allow leaders to be more strategic about building and testing plans while ensuring that calculations are always timely and accurate. An added bonus is the increased visibility for sales reps, which will inspire them to hit numbers and strive to reach their peak performance.
NewWave Communications Selects Xactly to Increase Transparency Across its Organization
Nov 10 15
Xactly announced that NewWave Communications has chosen Xactly to give executives, reps and administrators a more comprehensive view of the entire sales compensation process.
Xactly Corporation and Centive, Inc. Enter into a Second Amended and Restated Loan and Security Agreement with Silicon Valley Bank
Nov 4 15
On October 30, 2015, Xactly Corporation and its wholly-owned subsidiary, Centive Inc., as co-borrowers, entered into a Second Amended and Restated Loan and Security Agreement with Silicon Valley Bank as lender. This new loan facility, among other things, provides for a secured revolving loan facility in an aggregate principal amount of up to $15.0 million and a secured term loan facility in an aggregate principal amount of up to $10.0 million, for a total loan facility in an aggregate principal amount of up to $25.0 million. On October 30, 2015, the Borrowers (i) borrowed approximately $6.5 million in revolving loans, all of which was used to refinance all indebtedness owing from the Borrowers to SVB pursuant to that certain Amended and Restated Loan and Security Agreement, dated as of August 20, 2012, by and among the Borrowers and SVB, as amended, and (ii) borrowed $10.0 million in the form of a term loan, all of which was used to repay all indebtedness owing from the Borrowers to SVB pursuant to that certain Mezzanine Loan and Security Agreement, dated as of October 24, 2014, by and among the Borrowers and SVB, such that the Mezzanine Term Loan Agreement was repaid in full and was terminated. The new loan facility increases the revolving line available from Borrowers’ previous revolving loan facility with SVB, which was $11.0 million, and enables the Borrowers to borrow revolving loans based upon a formula derived from the Borrowers’ customers’ committed monthly recurring revenue. The Borrowers intend to use the remaining proceeds from the loans under the Loan Agreement for working capital and other general corporate purposes. At the option of the Borrowers, loans under the revolving loan facility and the term loan facility accrue interest at a floating per annum rate based on either (i) the prime rate published in the Wall Street Journal, plus 1.25% or (ii) the LIBOR rate determined in accordance with the Loan Agreement (based on 1, 2, 3 or 6-month interest periods), plus 2.50%. Accrued interest on the revolving loans and the term loan will be paid monthly, or, with respect to loans that are accruing interest based on the LIBOR rate, at the end of the applicable LIBOR interest rate period. Revolving loans may be borrowed, repaid and reborrowed until October 30, 2018, when all outstanding amounts must be repaid. The term loan is payable in 16 equal quarterly installments beginning December 31, 2015, with the final quarterly payment due September 30, 2019. Under the revolving loan facility, the Borrowers may borrow, prepay, and reborrow from time to time before the revolving loan facility maturity date. Prepayments of the term loan facility prior to its termination date will be subject to early termination fees, subject to certain exceptions. The Borrowers are required to pay a monthly unused line fee of 0.35% per annum based upon the average daily unused portion of the revolving loan facility. The Borrowers are also obligated to pay customary fees, including a commitment fee, for a loan facility of this size and type. The Borrowers’ obligations under the loan facility are secured by a security interest on substantially all of their assets, including their intellectual property. Additionally, the Borrowers’ future subsidiaries may be required to become co-borrowers or guarantors under the Loan Agreement.