Workboard, the industry pioneer in active strategy management software, today announced a $9 million Series A round led by Microsoft Ventures and Floodgate.
The funding enables the four-year-old startup to accelerate sales and marketing of their Active Strategy Management SaaS offering.
The Workboard SaaS Solution is a breakthrough for enterprises that need to iterate, measure and achieve strategy at market speed.
It provides real-time goal management solutions to help leaders and teams operate at their best and achieve big, bold goals. Its next-generation mobile and web app helps business leaders increase their velocity through dynamic short-range goals or Objectives and Key Results (OKRs), goal-aligned execution, and higher impact coaching and recognition.
Workboard is attempting to solve the problem of enterprise’s ability to iterate and engage teams on new strategic priorities. Due to rapid market and technology change, the traditional enterprise approach to strategy iteration, communication, and execution alignment is outpaced.
Today, the rate of market and technology change far exceeds most enterprise’s ability to iterate and engage teams on new strategic priorities.
As big digital innovators continue to disrupt markets faster, companies must rapidly and continuously adjust strategies and engage employees in new business directions.
According to a recent survey by the Economist Intelligence Unit, nine out of ten corporate strategy plans fail to meet stated goals and more than half of companies say they struggle to fix the problem and lose business to competitors as a result.
The Workboard SaaS solution transforms an antiquated approach to strategic alignment and progression into a dynamic, data-driven practice augmented by analytics and intelligence.
The California based startup is seeing strong demand for its Active Strategy Management solution. Currently, it has more than 67,000 teams using the solution to make work easier, more meaningful, and successful.
“It’s a promising solution at a time when enterprises are looking to transform all aspects of their businesses,” said Nagraj Kashyap, corporate vice president, Microsoft Ventures.