INSUBCONTINENT EXCLUSIVE:
This week Gtmhub announced a $9 million Series A led by CRV
The investment was not a large round, even for an A
the same.And, the firm was willing to talk about its financial performance in some detail
Objectives and key results, better known as OKRs, are a method for organizational planning
planning method for corporations of all sizes and types.Gtmhub deals with them, providing software and services around OKR implementation,
Ally does it (it also raised capital recently), along with WorkBoard, Koan and Lattice, among others.Given the crowded market, Gtmhub
stressed during our call how it thinks of itself as differentiated
The company has three things that it hopes will give it an edge in the market
The first is a focus on enterprise customers
Instead of starting with a small or mid-sized business target market and later targeting enterprise-scale customers, Gtmhub is going after
tracking as it ingests information to help teams vet how they are progressing against their goals
And, the firm is working on a marketplace where, over time, customers will be able to learn from existing OKR setups and leverage analytics
enterprise focus, is not abandoning smaller companies
According to Elliot, the startup is announcing a new, stripped-down, $1 per user per month plan next week called START, aimed at smaller
firms.If START is an attempt to onboard companies when they are small so they can be upsold later, or if it is more a contra-competitor
But the new, cheap plan (priced at about 10% of other Gtmhub tiers) could shake up the OKR software space by making table-stakes features
You might think, given its global footprint and number of employees, that the company had raised lots of capital to fund its operations
raised (here) in February of 2018
early 2017.All told, Gtmhub has raised just over $10 million to date, making its Series A about 87% of its known raised capital
more sin than virtue; after all, private companies backed with venture dollars are built for expansion.The opposite, as it turns
Over 400% year-over-year (YoY)Gross margin: Above 90%, up from over 80% YoYACV trends: +650% YoYTake a moment and square those results with
how much capital Gtmhub raised and ask yourself if the performance matches the raise
I suspect that Gtmhub could have raised a lot more money than it chose to, given its growth rate and other marks of financial health.But,
to watch the OKR and OKR-empowered software space grow over the next few years
There will be eventual consolidation, right?Correction:This post misstated the amount of capital raised by Gtmhub before its Series A and
