Ally.io, a hypergrowth technology company specializing in goal-setting and business execution software, has announced a $50M Series C funding round led by Greenoaks Capital. Tiger Global, who led the company’s Series B round, and Madrona Venture Group also joined the round, as well as previous investors Accel, Addition Ventures, Founders’ Co-Op, and Vulcan Capital.
With this funding, Ally.io has raised a total of $76M. “We are shaping the way modern businesses are able to bring focus, happiness, and most importantly, purpose to the work their teams are doing,” said Vetri Vellore, CEO and founder. “A company’s goals are the starting point, but too often, they’re siloed at a leadership level, or used as a stand-alone component of a disjointed strategy. We’re bringing those goals into the executional rhythm across every aspect of the business, automating countless hours of work, and helping companies become resilient and accelerate growth.”
“With the additional investment, Ally.io is shaping a business execution platform that closes the gaps between goals, day-to-day work, team engagement and productivity, meetings and reviews, and strategy development. The company is also rapidly expanding its global footprint, bolstering its strategic service offering, and growing its partner ecosystem with consultants around the world,” a statement made by the company said.
“The fundamental challenge for every enterprise is aligning and executing on key goals across the organization,” said Neil Mehta, Managing Partner of Greenoaks Capital.“We studied the space closely and we believe that Ally.io is building the best-in-class solution to solve this fundamental problem. Ally’s software allows organizations to define their goals, cascade these goals across an organization, integrate into the core business system to provide metric-driven progress, and collaborate efficiently to achieve results. Vetri and the team are seasoned leaders who built enterprise-grade products at Microsoft, Smartsheet, and Amazon, and we believe they are building a next-generation enterprise platform with Ally.io.”
“Ally.io is a lynchpin for how we do business across the company,” said Alex Oberg, Chief of Staff for Ticketmaster. “By aligning the work being done across every function and group, we’re able to move quicker and more confidently than we ever thought possible. This past year, we’ve been met with unprecedented challenges to our business, and the need to pivot quickly across the entire company. Ally.io keeps our teams tethered to the outcomes that matter while allowing us to be strategically nimble. We’re excited to partner with the Ally.io team as they add more functionality to support our business execution process, and in turn produce greater results.”
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.