rasies $50M Series C as the OKR software market stays explosive – ClearTips

This morning, an OKR (a software startup with a focus on objectives and key results that you’ve somehow avoided being exposed to) goal-setting technology, announced that it has raised $ 50 in new capital Has closed million. The Series C round was led by Green Oaks Capital, Madron Capital and its Series B lead, Tiger Global.

The affiliate raised $ 8 million Series A in August, 2019 and $ 15 million Series B in October of the same year. Series C exceeds its A and B rounds – and doubles.

The ally raised such a big round that there really wasn’t a huge surprise. OKR-software rival Gtmhub raised a $ 30 million Series B earlier this year, and companies in this particular software niche reported rapid-fire increases last year. ClearTips collected growth metrics from an affiliate of companies competing in the OLR and corporate targeting markets, including the affiliate. In 2020, Gtmhub, Perdoo, WorkBoard, and all grew in three digits.

ClearTips saw in a blog post before publication that Madrona investor and associate Backer S. Somesgar noted that “approximately $ 300 million” has been invested in OKR startups over the past two years. Such a rapid growth from so many players at such a competitive location could indicate a large market.

The latest round of collaborators makes it clear that investors expect similar growth from the cohort in 2021.

For flavor, we got new development numbers from Earlier the startup shared a 3.3x increase in 2020. Its CEO Vetri Vellore told ClearTips in an email that’s “revenue has increased 5x [has] More than 600 customers were added ”, since its Series B, which arrived about 15 months ago. It’s early

This is the type of development that investors want to invest. So, even though Vellore told ClearTips that his company “has the most” [its] Series B money in the bank, “decided to take more capital” to accelerate further, “to which we will add.” Because it can happen.

The ally did not have to turn his arms to lift more. Vellore described the round as “extremely competitive” in an email, noting that he had “started” [fundraising] Process in early January. “It’s just mid-February, so this round came together quickly:” Within two weeks of starting the process, we were able to wrap it up, “the CEO wrote, noting that the investment was” heavily due to strong interest from both Overbus was the existing investor and our new investor. “

The market for OKR software and corporate targeting software in general is proving to be large and attractive. Let’s see which rival player is the next player.

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