Profit. co, a company that offers a platform to help clients establish, monitor, and evaluate objectives and key results (OKRs) for their employees, announced on Tuesday that it has received $11 million in its initial round of external funding after being self-sustained for around four years.
The latest investment round for Profit. co was completed in August 2022, led by Elevation Capital, who invested $9 million in equity and was joined by the company’s CEO and founder, Bastin Gerald. The remaining debt funding was obtained from various banks in the United States, as per reported by BW Disrupt.
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According to a statement, the newly acquired capital will be utilized to increase the sales and customer success teams at Profit.co. The company was founded by Bastin Gerald in 2018 and offers a platform for planning, reviewing, and executing OKRs within its clients’ businesses.
Presently, Profit. co serves around 1,300 clients from a diverse range of industries, including financial services, telecommunications, manufacturing, consumer and retail, services, non-profits, technology, and government.
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About Profit. co
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 culture.
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