Insight Partners Puts $30 million into High-Flying ScaleUp
DENVER-Tuesday 12 January 2021 [ AETOS Wire ]
(BUSINESS WIRE)-- Gtmhub, a leading provider of OKR-empowered software, has closed a $30 million round, the largest Series B in the history of the category. Led by global venture capital and private equity firm Insight Partners with participation from Singular, existing investors CRV and LaunchHub Ventures contributed as well. The round was marked by strong investor interest from nearly 100 firms attracted by Gtmhub’s remarkable growth story and impressive client roster. Gtmhub selected leading ScaleUp investor Insight Partners to support strengthening of company operations and further international expansion.
Since raising a $9 million Series A in November 2019, Gtmhub has grown by more than 500% in customers and 1,100% in users. The company has shown remarkable strength in numerous verticals, including ecommerce, financial services, and consumer brands. Today, Gtmhub profitably serves more than 800 organizations globally, including Adobe, CNN, Red Hat, and Société Générale and over 100,000 users in 75 countries, helping mission-driven organizations stay focused on their most important business decisions.
“With our experience in bringing strong startups into the enterprise ready ScaleUp stage, we were immediately excited by Gtmhub and knew they were poised to really take off,” said Jeff Lieberman, Managing Director at Insight Partners. “The Gtmhub vision, mission, and addressable market-not to mention its impressive growth record-makes it a great fit for us. We look forward to welcoming Gtmhub to the Insight portfolio.”
Gtmhub estimates the total addressable market for its OKR-inspired business orchestration platform at $25 billion. The company, which has 100 employees and offices in Denver, Sofia, Berlin, and London is a “remote-first” organization and intends to use the funds to expand its sales, marketing, customer success, and engineering teams having recently added multiple senior leaders with previous unicorn and IPO/exit experience to the organization.
“If there was one word to describe this round from start to finish, it would be ‘ludicrous,’” said Ivan Osmak, CEO of Gtmhub. “The number of firms that reached out and the speed they were willing to move at to make it happen was like nothing I’ve seen before. The fact that a firm as prestigious and respected as Insight closed with us as quickly as they did is a great sign of validation for the work we have done and our long-term vision.”
Gtmhub is the leading provider of business orchestration software based on the OKR methodology. The platform offers industry-leading security practices and integrates with more than 160 business applications. Gtmhub fanatically supports more than 800 organizations and over 100,000 users in 75 countries including CNN, Red Hat, Adobe, Société Générale, TomTom, AIG, and the world’s most recognizable sports brand.
For more, please visit www.gtmhub.com
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
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