I'm excited to share today that Ally.io has raised $50 million in Series C funding. This raise brings the total investment in Ally.io to $76 million. You can read all of the details in our press release. What I want to share with you is why we raised this money.
Since our Series B funding round, Ally.io has increased revenue by more than 5x, been named Geekwire's Startup of the Year and a G2 Crowd Leader in the OKR category (twice), quadrupled our employee count, and added more than 600 new customers. I am very proud of what we’ve achieved as a business, but these metrics share little about our true purpose, and why we come to work every day: our customers.
Our customers will always be at the core of what we do and why we do it. My promise to our customers is that Ally.io will be there through every step of your business journey to help you transform and drive stronger business results.
Every business has goals and dreams - our vision is to become the business operating system that helps you achieve them as a team. We’ve made it easier to write good OKRs, check in or make updates effortlessly, and customize to fit how your teams operate. Making great products is an iterative process, and this funding will allow us to innovate much faster. As we evolve and grow, we will continue to put our customers first. Period.
We are excited to continue our journey to connect people, process, and systems to a business’s most critical priorities so it can achieve breakthrough productivity. In the next year, we see this come to life in the form of the following areas:
Customers come to Ally.io for our flexibility. “Ally.io doesn’t come with the same dogma as other tools,” Ross Rader, CCO at Tucows, told us. We agree, and although our roots are in the OKR goal methodology, as we scale this year we will add options for more flexibility to seamlessly work with any way your organization defines goals. We will be the easiest, fastest and the best goal management platform around, so you can focus on doing your best work.
At Ally.io, we start by addressing the “why” of every project or campaign and identify how it aligns to goals. This gives every project a purpose, and gives every team member visibility into “how” they are helping the company reach its goals.
When we added support for projects, our customers have told us that starting with the "why" and aligning every project or campaign to the goals has changed how it provides purpose to the work teams are doing. Looking ahead, we are integrating with more systems in a deeper way and enabling business leaders to focus on making sure the right work is happening to move the needle on the objectives across the portfolio.
“Execution is everything.” John Doerr calls out the importance of this in his book Measure What Matters. This year we will make it easier to establish a company’s goals as the heartbeat of the organization, powering their regular business rhythms like weekly business reviews, project standups, and OKR check-ins.
At the end of the day, it’s people that make strategy come alive. Every employee wants to know their work matters. To this end, we are connecting business and individual performance to bring focus and purpose to individual reviews, continuous feedback, and employee engagement. We’ll also continue to create tighter integrations with HRIS systems.
We will also be using the funding to accelerate our investments in a few other areas to support our customers:
We are making significant investments in our Strategic Services capability to help businesses move from goals to results with even greater speed and precision. Our business transformation coaches are trusted advisors, laser-focused on helping organizations evolve their business operating systems to meet the demands and opportunities of an economy that is moving faster than ever. Whether it’s leadership workshops, 1-1 coaching, or embedded support, our team is here to go into the trenches and partner with you to achieve your breakthrough results.
We’re investing in a strong partner ecosystem made up of consultants to aid your business transformation, and technology partners to provide the best integrations and workflows possible.
None of this work would be possible without your trust, support, and encouragement. We wouldn’t be able to continue innovating and growing without your partnership. Thank you for being a part of this journey! Here’s to celebrating many more milestones.