Fri. Mar 29th, 2024
crowdfunding

Ally, a business execution platform, has secured $15 million (approx INR 106 crore) in series B funding from Tiger Global, Accel, Vulcan Capital and others, reported Yourstory.

The startup Ally will be ulitizing the pumped- in capital to surge investments in global sales and marketing, expand the product offering, and enhance professional services to cement the company’s position as an emerging business performance management software company.

Vetri Vellore, CEO and Founder of Ally, said, “We weren’t necessarily looking to raise Series B within 2 months. Through an introduction from an existing investor, I met with Scott Shleifer, Partner at Tiger Global. We had a great discussion. Our values, including being transparent and direct, aligned very well. And of course, Tiger’s portfolio is super impressive. So, when the opportunity presented itself, we decided to do the Series B now instead of 12 to 18 months later as we had originally planned.”

Ally was founded by Vetri Vellore in 2017. The platform Ally supports startups and micro enterprises accelerate business their performance through its product based on the Objectives and Key Results (OKR) framework, the operating model for running agile businesses popularised by Google and other industry leaders.

As per its website, the startup enables organisations to establish a clear structure to their goals by helping managers develop OKRs for their team, integrate them with existing enterprise tools, and provide nudges and reminders for teams to achieve their OKRs and goals.

Vetri further added that Ally aims to become the new ‘intelligent operating system’ for businesses, which would enable enterprises to connect ongoing projects to KPIs and analytics, thus providing a holistic picture of the organisational direction.

Ally claims that it has approximately 400 customers globally and with the current funding, the platform is looking to increase its team in Chennai and Seattle by 2020.

Presently, it make a revenue of $11 to $14 per customer using its solutions every month.

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