![]() ![]() If the move works, Koan could progress from seed maturity to Series A preparedness. In marketing-speak, the startup wants to widen the top of its funnel. So to juice the number of folks using its product in hopes of it spreading widely, Koan is adding a free tier to its service. The method has proven popular with collaboration-focused software, so it could make sense for Koan if one team at a company uses the startup’s software, its use could spread to other teams. ![]() Software products that entice individuals to sign up, who then invite colleagues aboard, can benefit from product-led growth strategies. ![]() It’s cheap, and if it works, very effective. Via a Koan deck that TechCrunch reviewed, here how individual reports of progress against a KR can be viewed in its software. OpenView Partners defines the go-to-market method as follows: “n end user-focused growth model that relies on the product itself as the primary driver of customer acquisition, conversion and expansion.” Koan is pursuing a growth strategy called product-led growth, also known as product-led selling. If individual workers keep updating their progress, the company’s picture of how it is progressing toward goals will sharpen. In that vein, while Koan offers the OKR tools you’d imagine, it also has a check-in feature that helps individuals report their performance and progress in a manner that is aggregated across teams to provide a clear picture of how individuals across teams are feeling about any particular KR. Koan’s software is built around a single core philosophy, Tucker told TechCrunch in an interview, namely that small, positive actions done repeatedly will amount to a big impact in time. The goals-tracking software market saw a wave of venture funding over the last year, including Ally’s $15 million Series B, Gtmhub’s Series A, WorkBoard’s Series C, among others.įor more on what OKRs are and how they work, I’ve written a bit of an explainer here. The OKR-focused startup competes in a somewhat crowded space. Jive focused on enterprise social networking, went public in 2011 and later sold itself in 2017 for an all-cash deal worth $462 million. Koan, which raised $3 million in seed funding last October, was co-founded by Matt Tucker, who previously co-founded Jive. This week Koan, a startup that provides objectives-and-key-results (OKR) and status-tracking software, announced that it has raised an additional $1 million, added a free tier to its service and acquired a design firm with which it has worked. ![]()
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