After raising $8m this summer, Ally closes a $15m funding round

25 Oct 2019220 Views

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Ally plans to use the funding to accelerate its investment in global sales and marketing while expanding its product offering.

Ally, a software platform that enables users to set goals using an objective key results (OKR) framework, has announced the closure of a $15m Series B funding round, led by Tiger Global Management.

The company’s platform aims to help start-ups and large enterprises accelerate business performance to match the needs of their evolving markets, using the OKR framework famously popularised by Google and other Silicon Valley giants.

The business plans to use the fresh funding to accelerate its investment in global sales and marketing, expanding the product offering and enhancing professional services.

Ally closed its Series A round in August, raising $8m to develop its solution, which can be integrated with Slack and Salesforce.

The Series B marks Ally’s third round of funding in 2019, with the company closing its seed round in January. To date, the business has raised $26m.

‘Validation’

Since Ally was founded in 2018, its technology has been adopted by customers including Slack, Remitly, DoorDash, UrbanClap and Nike. In the last three months since the company’s Series A, Ally has added at least 100 new customers and has doubled its number of employees.

Vetri Vellore, founder and CEO of Ally, said: “We are thrilled to be in the company of other category-defining companies in Tiger Global’s portfolio and are thankful for the the strong support of our existing investors, Accel, Vulcan Capital, Founders Co-op and Lee Fixel.

“Tiger Global’s investment is a validation of Ally’s strong growth trajectory and vision to create the new business operating system that powers modern enterprises to deliver exceptional results through alignment, agility, transparency and data-driven execution.”

Scott Shleifer, partner at Tiger Global, added: “Enterprises of all sizes are shifting towards aligned, agile, data-driven business processes to improve results. Ally’s OKR solution improves productivity and we’re excited to partner with Vetri and the Ally team.”

Kelly Earley is a journalist with Siliconrepublic.com

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