OKR Platform Profit.co bags $11 Million in funding led by Elevation Capital
- ByStartupStory | February 2, 2023
Enterprise-class OKR platform Profit.co announced on Tuesday that it had raised $11 million in its first institutional funding round led by Elevation Capital.
The latest round of funding will be used to expand the sales and customer success teams in North America, EMEA, and APAC.
The company claims that its ARR has increased 9X+ in the last two years. It currently has thousands of customers in 25 countries, spanning industries such as finance, telecommunications, manufacturing, consumer, retail, services, non-profits, technology, and government organizations.
Profit’s deep product, combined with the implementation muscle, has forged several stories of strong impact on their customers across the United States, India, and EMEA, according to Akarsh Shrivastava, Principal, Elevation Capital.
“What further excited us was the type of customer NPS, scale, and growth they have been able to achieve with very limited capital. We are super excited to partner with Bastin and the team,” he said.
Profit.co, founded in 2018 by Bastin Gerald, is a platform that enables OKR planning, review, and execution. OKRs are a goal-setting framework pioneered by Intel that organisations use to define, measure, and track outcomes. Profit.co’s OKRs assist teams in bridging the gap between strategy and execution.
“Profit.co seamlessly integrates individual employee success with business strategy to ensure that OKR setting is a reliable and value-additive exercise for organisations,” he said.
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