Portland, OR — October 23, 2019 — Koan, the modern leadership platform, today announced a new seed funding round led by Uncork Capital and Crosslink Capital to scale up its vision for enterprise productivity, bringing its total seed funding to $5MM. Koan is a suite of tools to support leadership at every scale, acting as a strategic fabric across the organization. In particular, Koan’s collaborative approach to OKRs and goals is the only solution that scales across a whole company, but is simultaneously simple and engaging for individual teams. Early adopters include fast-growing companies like Carta, Iterable, and Vacasa. With this funding, Koan will scale its team and further extend the platform.
"Koan brings a fresh approach to leadership," says Uncork's Andy McLoughlin. "Leaders in competitive sectors know how important it is to engage every team with the company's strategy through OKRs and other processes. Now is the time to move these critical behaviors out of spreadsheets and off whiteboards and into a software product that users love. Koan is well-positioned to tackle this amazing opportunity."
Companies across the world spend nearly $300B per year on management consulting, yet still struggle with engaging employees to create the lasting behavioral changes that drive alignment and better business execution. To Koan CEO Matt Tucker, that engagement problem is nothing new. Tucker frequently wrestled with the challenges of alignment in his role as CTO and co-founder of business collaboration giant Jive Software. "Great plans just don't cut it," says Tucker. "Employees need to see how their work matters, and you need to be able to understand their work and help them deliver."
Koan has taken a different approach to the problem vs. previous competitors. Instead of linking goals to the performance management of individuals through HR processes, Koan focuses on a collaborative approach to business execution for teams and departments. That approach is resonating: Koan has grown it’s customer base to more than 130 companies across the world.
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