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Ally.io bags USD 50 million funding in Series C round led by Greenoaks Capital

Ally.io

Source: GeekWire

Ally.io is a Bellevue-based Software as a Service company that deals in strategic goal planning and execution management by the means of its software services. The company is known to have its technology development centre in Chennai and recently it has announced to have raised USD 50 million in its latest Series C financing round led by Greenoaks Capital, a California-based global management firm.

The company has known to have made remarkable growth in the OKR segment of the industry which stands for Objectives and Key Results. As mentioned in a report by YourStory, Ally.io is a technology platform that has broken ground in the Software as a Service industry with its business execution software.

Founded back in 2018 by Vetri Vellore, Ally.io operated with an execution management software that helps businesses in reaching their goals and execute strategies for growth. The Software as a Service company enables enterprises and businesses to transform from traditionally scattered framework of growth to a more simpler OKR model that becomes a seamless part of the company’s daily workflow which eventually becomes its medium for growth.

Vetri Vellore, founder of Ally.io stated in an exclusive interview with YourStory stated that the company is shaping and moulding the way modern businesses bring focus and purpose to the work their teams are engaged with. In addition to this, she also mentions about the inbound interest that the company has been receiving from investors.

Furthermore, when asked about the company’s latest infusion of funds, Vellore mentioned utilising these funds for rapid expansion as there is a strong demand in the market for OKR software.

In previous funding rounds, the start-up has raised USD 15 million back in 2019 from Tiger Global Management as a part of its Series B financing round. Prior to that, Ally.io has successfully concluded its Series A funding round with USD 8 million from Accel.

Ally.io is backed by the likes of seven existing investors in its latest Series C funding round which includes the lead investor- Greenoaks Capital, followed by Madrona Venture Group- a US-based Venture Capital firm, Addition- a US-based early-stage growth fund, Tiger Global Management, Accel, Vulcan Capital and Founder’s Co-op.

As mentioned in the report by YourStory, the company claims to have recorded over 3.3 times growth in revenues last year with more than 600 customers across the globe which include top brands like Nike, Slack and Dropbox.

 

 

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