Tiger Global’s second coming in India is nothing less than a boon for software product companies. The heightened interest of the hedge fund can be gauged from its bets on over a dozen SaaS-based firms. Its portfolio in B2B tech space includes OKCredit, InterviewBit Academy, Clevertap, MyGate, among others.
Continuing its investment spree in the B2B segment, Tiger Global has led $15 million Series B round in Ally. Existing investors, including Accel, Vulcan Capital, and Founders Co-op, also participated in the financing round.
The fresh round for a year-old venture has come in less than two months. In August, it raised $8 million Series A round led by Accel Partners. It’s worth noting that former Tiger Global’s partner Lee Fixel also invested in the company in an individual capacity.
Ally would deploy fresh proceeds to bolster its global sales, professional, and marketing services along with expanding its product portfolio, reports Business Standard.
The Seattle and Chennai-based company is a strategic goal-planning and execution management software that addresses the challenges that businesses face in adopting Objectives and Key Results (OKRs) through seamless integrations with Slack, Jira, Salesforce, Asana, and Smartsheet.
The company offers services to startups, growing departments and large enterprises. Its clientele base includes Remitly, Slack, T-Mobile, UrbanClap, Armory and others.
Ally would be 25th deal across B2B and B2C startups in India for Tiger Global since October 2018. It recently led $56 million round in MyGate and backed Clevertap, Ninjacart, Vedantu and NestAway among others.
Currently operational in about 70 countries, Ally’s major competitors comprise of 7Geese, Wrike, and Corvisio and a few others.
After hiatus of more than three years, Tiger has made a comeback in India at the fag end of 2018. Since then, the hedge fund under Scott Shleifer has been making bolder bets. Unlike its first stint, Tiger has been mainly focusing on early and growth-stage opportunities in B2B space.