The Proft.co enterprise-class OKR platform continues to help companies achieve successful business results by growing sales and customer success teams in North America, EMEA and APAC.
California, USA –News Direct– Profit.co
The bridge between business strategy and successful execution is something all businesses focus on. Yet 60% stumble on this path (according to Gartner) due to gaps in their ability to execute. To support companies on their journey, Profit.co, which focuses on Goals and Key Results (OKRs), announces an $11 million funding round to grow its team and product around the world. The funding round was led by Elevation Capital.
Founded by Bastin Gerald in 2018, Profit.co is a platform that enables the planning, review and execution of OKRs, as it is the people who drive the strategies to ensure businesses stay on a steady course. on their successful execution. OKRs are a goal-setting framework pioneered by Intel and used by organizations to define, measure, and track results. Profit.co’s OKRs help teams bridge the gap between strategy and execution.
Today, companies manage the delivery and execution of their strategy on spreadsheets, presentation slides or using project management software, but these means remain disconnected from what is happening. in the business engine. As a business grows, this approach lacks flexibility and integration with their broader business stack like Slack, Jira, Salesforce, Hubspot, Oracle, and true alignment mechanisms that streamline strategic execution.
Bastin Gerald is an industry veteran with extensive experience working in startups at companies like Oracle. Bastin Gerald, Founder and CEO of Profit.co “Business leaders struggle to see and act on cross-functional dependencies between key results, which makes leaders more reactive and limits the success rate of priority business initiatives. Profit.co seamlessly integrates individual employee success with business strategy to ensure setting up OKRs is a reliable, value-added exercise for organizations. »
“The biggest concern of companies that use sub-optimal solutions to navigate the path to growth is that they have no eye on the levers of their success, the people working on the projects. The use of OKRs is widespread and we help business owners capture the true essence of what works and what needs to be supercharged. Our information is not only dynamic, it shows its trend over time and in real time”.
Akarsh Shrivastava, Principal, Elevation Capital said: “OKR as a philosophy has been appreciated around the world and has seen strong tailwinds. However, the challenge has always been execution, with many programs failing because they are not well put together. implementation or lack of a good product. Bastin and his team with their deep experience in the space, have created an offering to bridge this gap. Profit’s deep product, coupled with the implementation muscle, has forged several high-impact stories about their customers in the US, India, and EMEA. What got us even more excited was the type of customer NPS, scale, and growth they were able to achieve with very limited capital We are delighted to partner with Bastin and his team.
Profit.co provides the functionality that traditional ad hoc solutions lack for a business to execute its strategy. It does this by not only focusing on building OKRs, but also tracking their success and providing real-time visibility for leaders to redirect and redirect their teams as needed. Profit.co provides an enterprise-class SaaS application for businesses to set, manage and execute their goals. Businesses and teams can define their goals as OKRs and manage their collaborative execution throughout the OKR lifecycle. Quarterly Goals (OKRs) can be broken down into daily “tasks” and managed through our “Task Management” app. Profit.co also offers “Employee Development” and “Employee Engagement” modules to facilitate human processes in achieving goals.
The company has seen strong traction lately, growing 9X+ in ARR over the past 2 years. It currently has thousands of customers in 25 countries, spanning industries such as financial services, telecommunications, manufacturing, consumer, retail, services, nonprofits, technology, and government organizations. . Their clients include 70 Fortune 500 companies and feature renowned names such as Deckers Brands, Sandvik, Deriv, Open Government (Singapore), and Phoenix Rescue Mission, among others.
Founded in 2018, Profit.co, HQ in Fremont, CA, USA, is an enterprise OKR platform, integrated with task management. With its easy-to-use user interface, Profit.co enables businesses to practice OKRs at all levels of the organization. Profit.co was recently recognized by Capterra (from Gartner) with a rare score of 100/100 for customer support.
About Elevation Capital
Elevation Capital is a leading venture capital firm that provides seed and start-up capital to emerging businesses in India. Elevation Capital has been investing in India since 2002, deploying nearly $2 billion of capital across more than 150 companies. The company announced its eighth capital pool of $670 million in April 2022. The company is led by co-managers Ravi Adusumalli and Mukul Arora, along with three managing directors Mridul Arora, Deepak Gaur and Mayank Khanduja. The company has invested in over 150 companies across Consumer Internet, SaaS, Fintech, Consumer Brands, Edtech, Healthtech and Web3/Crypto, and has offices in Bengaluru, Gurgaon and Salt Lake City.
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See source version at newsdirect.com: https://newsdirect.com/news/profit-co-announces-11m-funding-as-it-continues-to-help-enterprises-drive-successful-business-outcomes-through – its-okr-based-runtime-platform-898768747