Software startup Ally.io raises $50M Series C as the OKR software market stays explosive

Ally.io, a software startup with a focus on the OKR (objectives and key results, in case you’ve somehow avoided being exposed) goal-setting technique, announced that it has closed $50 million in new capital. The Series C round was led by Green Oaks Capital, Madrona Capital, and its Series B lead, Tiger Global.

According to Techcrunch, Ally raised an $8 million Series A in August, 2019 and a $15 million Series B in October of the same year. The Series C is more than its A and B rounds put together – and doubled.

That Ally raised such a large round really wasn’t too big a surprise. OKR-software rival Gtmhub raised a $30 million Series B earlier this year, and companies in this particular software niche reported rapid-fire growth last year. TechCrunch collected growth metrics from a host of companies competing in the OKR and corporate goal-setting market, including Ally. In 2020, GtmhubPerdooWorkBoard, and Ally.io all grew in the triple digits.

In a blog post that TechCrunch saw before publication, Madrona investor and Ally backer S. Somasegar noted that “nearly $300 million” has been invested into OKR startups in the last two years. Such rapid growth from so many players in such a competitive space could signal a huge market.

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