Businesses execution software FinTech Ally.io has closed 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.
The new funding round brings the total raised by Ally.io $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 of Ally.io.
“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.”
The company plans to use the new cash injection to continue to shape a business execution platform that closes the gaps between goals, day-to-day work, team engagement and productivity, meetings and reviews, and strategy development. It is also aiming to expand globally.
“The fundamental challenge for every enterprise is aligning and executing on key goals across the organisation,” 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 organisations to define their goals, cascade these goals across an organisation, 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.”
Greenoaks Capital recently supported TripAction’s $155m Series E round that saw the business travel and spending platform hit a $5bn valuation.
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