Top 10: OKR software
Updated: July 30, 2023
OKR (Objectives and Key Results) software is a specialized tool that helps businesses and organizations implement and track their OKR framework effectively. OKRs are a goal-setting methodology that aligns individual and team objectives with overall organizational goals, ensuring focus and accountability. OKR software enables businesses to define clear and measurable objectives and key results, providing a transparent and centralized platform for teams to set and track progress towards their goals. With features for cascading OKRs across different levels of the organization, these platforms ensure alignment and collaboration between teams and departments. OKR software also offers real-time visibility into goal progress, allowing for continuous monitoring and adjustment as needed. By leveraging OKR software, organizations can foster a goal-driven culture, enhance performance, and achieve better business outcomes through a more strategic and focused approach to goal setting and execution. Some of the most popular OKR software options are listed below.
See also: Top 10 Talent Management Systems
See also: Top 10 Talent Management Systems
2021. Gtmhub raises $120M for its OKR software
This morning, the OKR startup Gtmhub announced the successful closure of a Series C funding round, raising an impressive $120 million. The OKR software market, in which Gtmhub operates, has experienced significant activity throughout the year. This context helps to make sense of the substantial funding round, particularly when comparing it to Gtmhub's comparatively smaller Series A and B rounds. In this competitive landscape, Gtmhub's rival, Ally, was acquired by Microsoft, and WorkBoard secured a $75 million funding round earlier in the year. More recently, Koan, a smaller player in the OKR space, ceased operations and eventually sold to Gtmhub.
2021. Microsoft acquires OKR startup Ally.io
Microsoft has completed the acquisition of Ally.io, a software service designed to assist companies in assessing their progress towards objectives and key results (OKRs) – a widely used method for measuring individual and organizational achievements. This acquisition aligns with Microsoft's strategy of integrating Ally into its Viva suite of employee experience products. The purpose behind Viva and the inclusion of Ally is to establish a more transparent approach in communicating company goals and objectives to employees. The acquisition of Ally by Microsoft may serve as a precursor to a potential wave of consolidation in the OKR-focused software market, which currently features several prominent competitors like WorkBoard, Koan, Gtmhub, Perdoo, and WeekDone.
2021. OKR-focused WorkBoard raises $75M
WorkBoard, a software startup specializing in solutions to aid companies in planning, has recently announced the successful completion of a $75 million Series D funding round. WorkBoard enables organizations to align their strategic priorities and localize objectives and key results (OKRs) across cross-functional teams and individuals. With its OKR software, WorkBoard facilitates automated measurement of critical metrics that truly matter, allowing for tracking, calculation, and sharing of progress on key results and success indicators across various platforms such as the web, mobile, Slack, and Microsoft Teams. WorkBoard competes with other startups focusing on OKR implementations, including Ally.io, Perdoo, Gtmhub, Koan, and WeekDone. Notably, while these companies may appear similar from an external perspective, they each rely on unique strategies and differentiators to gain an edge within their respective segments of the OKR market.
2021. OKR-focused startup Gtmhub raises $30M
Gtmhub, a startup specializing in software solutions for corporate planning, has announced the successful completion of its Series B funding round, securing $30 million. The company focuses on the implementation of the OKR (Objectives and Key Results) methodology, which has gained popularity among technology firms for effective planning. It will be intriguing to observe if other software startups, which also raised funds around a year ago, will follow suit and seek additional capital. Among the notable contenders in this category are WorkBoard and Ally. Additionally, we are eager to learn about the 2020 growth of other players in this space, such as Perdoo.
2020. Koan raises $1M more as it adds a free tier to its OKR software
Koan, a startup specializing in objectives-and-key-results (OKR) and status-tracking software, has recently secured an additional $1 million in funding. Alongside this milestone, the company has introduced a free tier to its service and completed the acquisition of a design firm it previously collaborated with. Despite operating in a competitive landscape that includes Ally, Gtmhub, WorkBoard, and others, Koan distinguishes itself through its software's central philosophy. It emphasizes that consistent, small positive actions can lead to significant long-term impact. While Koan offers the expected range of OKR tools, it also incorporates a check-in feature. This feature allows individuals to report their performance and progress, which is then aggregated across teams. By doing so, Koan provides a comprehensive overview of how individuals across teams perceive and engage with specific key results, contributing to a clearer understanding of team dynamics and overall progress.
2020. OKR software WorkBoard raises $30M
WorkBoard, a dynamic SaaS startup specializing in goal setting and management software, has exciting news to share: the successful closure of a $30 million Series C funding round. WorkBoard offers comprehensive software and services to assist companies in planning and monitoring their progress towards achieving their goals. In essence, WorkBoard empowers organizations to establish and leverage OKRs, which stands for "Objectives and Key Results." This strategic framework is widely embraced, particularly in Silicon Valley, where it was popularized by Google. With WorkBoard's support, companies can establish a robust planning system and effectively track their objectives and outcomes.
2019. OKR platform Koan has raised $3M
Koan, an online platform established three years ago, has successfully raised $3 million in seed funding. Its primary objective is to assist teams in achieving their goals and maintaining engagement. Koan distinguishes itself from the multitude of performance management tools available by shifting its focus away from HR departments and instead targeting Chief Operating Officers (COOs) or Chiefs of Staff. These key individuals, who currently rely heavily on static products like emails and spreadsheets that can impede execution speed, are provided with a dashboard by Koan. This dashboard streamlines goal tracking, feedback provision, and other tasks related to people management, thereby enhancing their efficiency. The company also caters to leaders of small to mid-sized companies, aiming to aid them in goal management and simplify their progress tracking against their own metrics and objectives.