Performio offers incentive compensation management software for businesses to automate sales compensation calculations and provide increased transparency to sales reps. The company is headquartered in Newport Beach, CA, with offices in San Francisco and Australia.

Grayson Morris, CEO
Luke Teeple, CFO & COO
Trilogy Board Member
Mitch Cohen
Newport Beach, CA
Other Offices
San Francisco, CA Melbourne, Australia

Performio is led by CEO Grayson Morris and CFO and COO Luke Teeple, who acquired the company after a 27-month search. Luke and Grayson launched their search fund, Stables Partners, in February 2017 and based their search in San Francisco, CA. During their search, Luke and Grayson focused primarily on software businesses.

Performio was an attractive investment opportunity because it was an exceptionally strong and scalable product selling into a growing market for SaaS sales force management solutions; it was also a great fit for Luke and Grayson. Trilogy was actively involved in the acquisition process, with Mitch Cohen joining the Board of Directors and TSP Operating Executive Stijn Hendrikse supporting the marketing function post-acquisition.

Since the acquisition in mid-2019, Luke and Grayson have focused on making key hires and product improvements while increasing sales. The company also made significant improvements in the new customer implementation process, and implemented new internal processes including comprehensive OKRs for the senior team.

Grayson Morris has 12 years of prior work experience in sales, finance and apparel manufacturing, including as the CEO of the iconic surf brand, Birdwell Beach Britches. He received his BA from Rice, an MS from University of California, Berkeley, and an MBA from Stanford.

Luke Teeple has 14 years of prior work experience in numerous investment roles, including his role as a Partner at a long-only public investment firm. He received his BA from Cornell and an MBA from Stanford.


Q&A with Grayson Morris


Tell us about a challenging moment during your search – how did you persevere?

“For me the most challenging moment came around month four. The initial euphoria of the launch had worn off and we were struggling with which industry to search in. More than that, we were struggling with a definition of ‘industry’ that made sense to us. We were either too broad (data services!), too narrow (equipment rental data services!), or too opportunistic (what’s in today’s Wall Street Journal?). For us, the breakthrough came when we acknowledged that our process wasn’t working. We took a break, went back to our initial list of ideas, and asked ourselves which one we were most excited about. For us it was software, so we settled on that. More of a business model than an industry – but it allowed us to focus our search and start making progress.”

If you could go back and tell yourself one thing at the start of your search process, what would it be?

“The perfect deal doesn’t exist. Pick the two or three things you care most about in a business that you want to buy, and don’t worry about the rest.”

What’s your favorite part about operating Performio?

“Our favorite part about running Performio is the impact we can make on the company. From coaching a young employee, to fixing a broken internal process, to driving sales growth, we have the ability – and responsibility – to make big and meaningful changes in the organization. It’s deeply satisfying to identify something that needs to change and help make it happen.”