Execution Management Software Company Ally Raises $8 Million

By Annie Baker ● August 23, 2019
  • Leading goal setting and execution management software company Ally announced it raised $8 million in Series A funding led by Accel

Ally — a leading goal setting and execution management software company — announced it raised $8 million in Series A funding led by Accel. And Founders Co-op, Vulcan Capital, and Lee Fixel also joined the round.

Ally works with businesses such as Remitly, Slack, T-Mobile, UrbanClap, WellStar Health System, and Armory to accelerate their business performance through alignment, agility, transparency, and focus for matching the fast-paced needs of their evolving markets. Ally’s product is based on the Objectives and Key Results (OKR) framework, which is the operating model for running agile businesses popularized by Google and other industry leaders.

“We’re incredibly passionate about helping businesses accelerate growth through strong alignment, transparency and zen-like focus. We’re off to a phenomenal start and are nearly doubling revenue every quarter. With the support of Accel and our existing investors, we will continue to innovate and enable every business to operate better and deliver stronger results,” said Ally founder and CEO Vetri Vellore.

Ally had raised $3 million in seed funding back in January 2019. And so this round brings Ally’s total funding to $11 million. And since launching last year, Ally has been adopted by hundreds of companies across more than 70 countries.

“We began by using shared documents to align around OKRs at Remitly. When it came time to roll out OKRs to everyone in the company, Ally was by far the best tool we evaluated. OKRs deployed using Ally have helped our teams align around the right goals and have ultimately driven growth. Ally is incredibly simple to use and its integrations with popular applications like Slack ensures that new users engage with it immediately. Ally is on a mission to make goal setting easier and has been a great partner in helping our business to achieve more too,” added Remitly co-founder and COO Josh Hug.

Ally is addressing the core challenges businesses face in adopting OKRs successfully. And it offers a simple, intuitive interface with embedded OKR best practices and templates that make getting started easy.

The solution drives OKR adoption by inserting goals into the daily workstream through seamless integrations with Slack, Jira, Salesforce, Asana, Smartsheet, etc. Ally also partners with its customers to provide OKR coaching and consulting to achieve operational excellence.

“We’re excited to partner with Vetri and his team. Ally fits into our objective of supporting innovative products that address core business challenges in a growing, global market. We see more and more businesses focusing on increasing productivity by driving alignment, transparency, and visibility across the organization and Ally helps achieve that,” explained Accel parter Abhinav Chaturvedi.