Ally raises $15M Series B funding to accelerate business performance using OKRs

Ally, a tech startup and a developer of a strategic goal-planning and execution management software, has raised 15 million in Series B funding to further accelerate its investment in global sales and marketing, expand the product offering and enhance professional services. The Series B investment comes on the heels of the $8 million Series A round that closed in July of this year, bringing the company’s total funding to $26 million.

The round was led by Tiger Global Management, LLC, a New York based investment firm known for investing in strategic, innovative companies such as Facebook, Flipkart, Slack, and Stripe. Previous investors Accel, Vulcan Capital, and Founders Co-op also participated in this round.

Founded in 2017 by Vetri Vellore, the Bellevue, Washington-based Ally helps startups and large enterprises to accelerate business performance through alignment, agility, and transparency to match the fast-paced needs of their evolving markets. Its product is based on the Objectives and Key Results (OKR) framework, the operating model for running agile businesses popularized by Google and other industry leaders. The Series B investment comes on the heels of the $8 million Series A round that closed in July of this year, bringing the company’s total funding to $26 million. In the last three months, Ally has added over 100 new customers and has doubled the number of its employees.

Since its launch in 2018, Ally’s solution has been adopted by hundreds of leading organizations in over 70 countries. Ally’s customers include fast-growing startups and large enterprises such as Slack, Remitly, DoorDash, UrbanClap, Nike, and InVision.

“We are thrilled to partner with Tiger Global and are thankful for 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,” said Vetri Vellore, Founder & CEO at Ally.

Ally will continue to rapidly scale global sales, marketing, and professional services while making significant investments to expand the product offering, cementing the company’s position as a leader in the emerging business performance management software category.

“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,” said Scott Shleifer, partner, Tiger Global.