The Workplace Accelerator powered by Veremark, the global pre-employment screening platform, has today announced its first investment to come out its inaugural cohort. The investment is in Fitbots OKRs’ platform, a Singapore headquartered startup, to enable companies to work and assign accountability towards their strategic goals. The investment amount was not disclosed.
Fitbots advocates for the adoption of OKRs as the leading management approach for remote working and enabling companies to drive organization-wide strategic alignment execution seamlessly
Fitbots has already had great success in rolling out OKRs in being the only platform across APAC to offer an integrated approach with a SaaS platform for OKR management, along with OKR Coaching and certifications at scale.
The startup, which is headquartered in the Global Financial Hub, Singapore & co-located in Bengaluru, has seen massive growth throughout the Workplace Accelerator program held over 3 months. Key highlights include:
- an impressive 300% growth on 2020 revenues
- 10+ new marquee enterprise customers in professional services and one of India’s largest FMCG players
- 50% increase in average deal size in a continued move upmarket
- launch of OKRs.Pro, a membership and coaching platform for building the largest community of OKR consultants across APAC
Co-Founded by Vidya Santhanam and Kashi KS who were colleagues in their previous company, both realized that there is a big gap in how companies drive strategy to execution. By observing the ineffective time spent on performance practices that yield little outcomes, they set out to create Fitbots to empower businesses to align employee activities to quarterly business objectives.
CEO Vidya says, “We are delighted to have brought on a number of strategically prominent HR leaders as early-stage investors through the Workplace Accelerator, as well our seed-round investor Icarus Feather. We have seen a boom in the OKR market across Europe and the US. Our platform and coaching network is already the strongest in the region. We will use the investment further to bring OKRs to more customers and strengthen the OKR community.”
Jean Pierre Sedaghat, Partner at the Workplace Accelerator and Managing Partner at Vantage Capital Partners said, “Closing the gap between strategy and execution is vital for all organizations and even more so when missing the proximity of in office working. We are delighted to support Vidya and Kashi in their journey and are big believers in their capabilities as well as knowledge of what companies need to execute this framework correctly”.
The Workplace Accelerator, which brought on 7 initial ventures, closed their first cohort in February and is now expected to announce further 3 investments in the coming weeks. For Fitbots, the investment comes at the right time, given the rise for OKRs, fueled by the pandemic-driven remote and hybrid working culture.