Ally, a Bellevue-based startup, announced its Series B this morning, a $15 million round led by Tiger Global.
The OKR-focused software startup raised a Series A in July (it was announced in August), an $8 million round led by Accel.
Ally founder Vetri Vellore worked at Microsoft in the past, explaining the location of his new company.
Hunting for other models concerning how business might change, Vellore ran across OKRs, a neat method for corporate planning that companies seem to mainly execute in spreadsheets.
Each key result should be trackable as the quarter progresses, helping the OKR-guided company in question grade itself as it works towards its objectives.
By integrating into Slack and other daily-use tools, the company wants to help “ease people into OKRs” according to Vellore, helping employees create intelligent objectives and key results and keep them updated.
Rewinding, Vellore told Crunchbase News that Ally raised a $3 million Seed round in January.
Asked why he raised again, and why Tiger Global had led such a comparatively modest round, Vellore said that Lee Fixel, who led Ally’s Series A for Accel, introduced the company to someone at his former employer (Tiger Global).
The introduction went well, and Ally wound up raising $15 million now instead of what Vellore hypothesized could have been a $30 million round in a year and a half.