Gtmhub Raises $30M in Series B Funding Amid Rapid Growth
Gtmhub, a leading provider of Objectives and Key Results (OKR) software, has announced a $30 million Series B funding round. The investment was led by Insight Partners, with participation from new investor Singular and existing backers LaunchHub and CRV.
A Surge in Growth and Funding Momentum
This latest funding follows Gtmhub’s $9 million Series A in December 2019, which itself marked a significant leap from earlier rounds. The company’s ability to attract substantial investment is directly tied to its exceptional growth trajectory.
- 3x ARR Growth in 2020: Gtmhub’s annual recurring revenue (ARR) tripled from December 2019 to December 2020.
- 10x Increase in Annual Contract Value (ACV): Demonstrating strong enterprise adoption, the company’s ACV grew tenfold last year.
- 90% Gross Margins: Maintaining profitability, Gtmhub retained its high-margin business model.
Why OKR Software Is in High Demand
OKR (Objectives and Key Results) methodology, popularized by tech giants like Google, has expanded beyond Silicon Valley. According to Seth Elliott, Gtmhub’s COO, the framework is gaining traction globally across non-tech industries, particularly as companies seek agility and digital transformation.
Gtmhub’s success aligns with two key trends:
- Rising Adoption of OKRs: Businesses increasingly rely on structured goal-setting frameworks.
- Enterprise Digital Transformation: Large organizations leverage Gtmhub’s platform to streamline strategic execution.
A Competitive Landscape
The OKR software market has seen heightened activity, with compe*****s like WorkBoard, Ally, and Perdoo also securing funding in recent years. Gtmhub’s rapid growth suggests the niche is far from saturated, with ample room for multiple high-growth players.
What’s Next for Gtmhub?
While the company has not disclosed its 2021 roadmap, its recent funding underscores investor confidence in its scalability and market potential. The round was finalized in late 2020 after a swift negotiation process, defying the typical 18-month fundraising cycle.
Key Takeaways
- OKR software is a thriving sector, driven by demand for organizational agility.
- Gtmhub’s enterprise focus has paid off, with exponential ACV and user growth.
- The competitive landscape remains dynamic, with other OKR startups likely to follow suit in fundraising.
For businesses evaluating strategic planning tools, Gtmhub’s momentum highlights the increasing importance of data-driven goal management in today’s fast-moving corporate environment.
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