Accel Partners, along with Founders Co-op, Vulcan Capital, and Lee Fixel have infused $8 million (approx ₹57 crore) in Ally, a Seattle-headquartered, business execution startup. The funding was part of the Series A round, which was led by Accel.
The capital invested, will be use to fuel sales and marketing growth globally, expand the product offering and enhance professional services, according to the company.
“We’re off to a phenomenal start and are nearly doubling revenue every quarter,” said Vetri Vellore, founder and CEO at Ally.
Ally was founded by Vetri Vellore in 2018. The platform is a strategic goal-setting and execution management software that enables businesses to improve their organisational alignment, agility, focus, and transparency to match the fast-paced needs of their evolving markets.
Its Objectives and Key Results (OKR) solution enables businesses of all sizes to easily adopt OKRs and transform their business.
The company claims to be used by hundreds of companies in over 70 countries.
“Ally fits into our objective of supporting innovative products that address core business challenges in a growing, global market. We see more and more businesses focusing on increasing productivity by driving alignment, transparency, and visibility across the organization and Ally helps achieve that,” said Abhinav Chaturvedi, partner at Accel.
According to the CAGR report, the enterprise collaboration market revenue is expected to reach $53.83 Bn by 2023, growing at a CAGR of 11.15% during the forecast period 2018-2023.