INSUBCONTINENT EXCLUSIVE:
WorkBoard, a SaaS startup that provides goal setting and management software to other companies, announced today that it has closed a $30
The new capital comes less than a year after the startup raised a $23 million Series B
provides software and services to other companies relating to how they plan and track their progress against their plans
Briefly, OKRs are a planning framework that help companies set their course intelligently, and execute across smaller tasks that add up to
the direction they want to go
OKRs are popular in Silicon Valley, where Google popularized the method
It was not clear, at least to your humble servant, how far the idea had spread when WorkBoard raised its Series B last year
What if the startup raised a bunch of money after selling into fertile ground (startups aware of OKRs), but struggled when it went after
other, non-tech companies?Whoops
After boosting its annual recurring revenue 3.5x in 2018, WorkBoard tripled its ARR again in 2019, according to CEO Deidre Paknad
Thinking out loud, WorkBoard raised its Series A in December of 2017
It probably had $1 million to $3 million ARR at the time, a wide but regular-ish range of ARR for a startup raising its first institutional
that its growth can keep up.On that point, I asked Paknad about her market, especially in regards to how much work she and her employees had
software? Or had the need to teach about OKRs themselves gone down?She indicated that instead of needing to pull the market toward her firm,
the trendlines are better than neutral
Companies were stuck on their love of PowerPoint and similar, dated tooling
so.That market movement has helped the company have very efficient operations, in terms of the usual raft of SaaS metrics that we understand
Fast-growing, efficient SaaS companies make investors dream of the next Slack
