Gtmhub raises $9M from CRV after posting 400% ARR growth in the last year
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Gtmhub raises $9M from CRV after posting 400% ARR growth in the last year
This week Gtmhub announced a $9 million Series A led by CRV. The investment was not a large round, even for an A. But the capital found its way into one of the fastest-growing SaaS companies that we've spoken with recently, which made it interesting all the same.
And, the firm was willing to talk about its financial performance in some detail. The combination made its Series A impossible to ignore.
TechCrunch caught up with Gtmhub's CMO Seth Elliott this morning to learn more.
What it does
Let's start with OKRs. Objectives and key results, better known as OKRs, are a method for organizational planning. They are famous thanks to their roots in Google's success, but have since broken free of the technology world and become a well-known planning method for corporations of all sizes and types.
Gtmhub deals with them, providing software and services around OKR implementation, training and tracking. (If you an OKR neophyte, head here for a quick overview of what they are.)
Making OKR software isn't a differentiator in today's market. Ally does it (it also raised capital recently), along with WorkBoard, Koan and Lattice, among others.
Given the crowded market, Gtmhub stressed during our call how it thinks of itself as differentiated. The company has three things that it hopes will give it an edge in the market. The first is a focus on enterprise customers. According to Elliot, enterprise-sized clients are his company's "bread and butter," from a revenue perspective. Instead of starting with a small or mid-sized business target market and later targeting enterprise-scale customers, Gtmhub is going after the top-end of the market first.
Second, the company's software is de