Amount Raised
$11 Million
Round Type
Funding Round
FremontFinancial ServicesSoftwareInvestors
Description
Profit.co, which provides software that allows clients to set, track and measure objectives and key results (OKR) for their employees, said on Tuesday that it raised $11 million in its first external round of funding after about four years of bootstrapping.The funding round, closed in August 2022, was led by Elevation Capital that invested $9 million in equity, founder and chief executive Bastin Gerald told ET. The remaining was debt from multiple banks based in the US.The fresh capital will be used to scale up the sales and customer success teams at the company, as per a statement.Founded by Gerald in 2018, Profit.co’s platform enables OKR planning, review and execution in its clientele’s businesses.Gerald, a Wharton School alumnus, had previously founded another business software maker, Apptivo, and held multiple leadership roles at technology companies such as CashEdge (now owned by Fiserv) and Oracle.The US-based startup, with 220 employees in total, generates 40% of its revenue from the US. It sources another 40% from India and the Europe, Middle East and Africa (EMEA) region. The remaining 20% is generated off the rest of Asia Pacific, Gerald told ET.Discover the stories of your interestBlockchain5 StoriesCyber-safety7 StoriesFintech9 StoriesE-comm9 StoriesML8 StoriesEdtech6 StoriesThe company declined to share exact revenue figures
Quick answer
Profit.co raised $11 Million in a Funding Round round, dated January 31, 2023. Investors: Microsoft, Ally.Io, Oracle, Cash Edge And and Elevation Capital. Profit.co is based in Fremont, California, United States.
- How much did Profit.co raise?
- Profit.co raised $11 Million in a Funding Round round on January 31, 2023.
- Who invested in Profit.co?
- Microsoft, Ally.Io, Oracle, Cash Edge And and Elevation Capital are named as investors in this round.
- What does Profit.co do?
- Profit.co is a best-in-class OKR software integrated with Task, Performance management, and Employee Engagement directed toward 360-degree organization governance for accelerated growth while maintaining the best work..
- Where is Profit.co based and how big is it?
- Profit.co is based in Fremont, California, United States.
- Who are the decision-makers at Profit.co?
- Fundz holds 1 contact at Profit.co, including the Chief Executive Officer. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Financial Services and Software around the same time
Companies in the same sectors as Profit.co that raised within 45 days of this round, from Fundz verified event records.
- Fundpath raised $4.9M (Seed) on March 17, 2023.
- Wingspan raised $14M (Funding Round) on March 16, 2023.
- Doroni raised $3.5M (Seed) on March 16, 2023.
- Streamex Corp. raised $2.5M (Seed) on March 14, 2023.
- Till Payments raised $70M (Funding Round) on March 7, 2023.
- Kita raised $4.8M (Seed) on February 22, 2023.
Who to call at Profit.co, and when
A new round usually means Profit.co is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Profit.co raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Profit.co, from your own LinkedIn network
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Profit.co raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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