Portland, Ore.-based startup Koan raised $1 million from BMNT and acquired fellow Portland company Horrible Design Co to help fuel growth.
Former Jive Software exec Matt Tucker co-founded Koan in 2016. The company helps teams track their progress toward objectives and key results (OKRs). Customers include SurveyMonkey, New Relic, and others. Koan has grown amid the pandemic and doubled headcount this year. It just joined BMNT’s H4XLabs enterprise accelerator.
Koan is similar to Ally, a Seattle startup that also helps companies track OKRs and won Startup of the Year honors at the GeekWire Awards earlier this year. Other competitors include 15Five, BetterWorks, Khorus and Workboard.
Tucker co-founded Jive Software, which went public in 2011 and was acquired by private equity group Aurea in 2017. Tucker’s former Jive colleague Scott Campbell is Koan’s other co-founder; Campbell departed last month and is now senior vice president of sales at Docker.
Koan raised a separate $3 million round in October 2019.