SEEDED: Productivity App Koan Raises $5 Million

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Portland, Oregon based Koan, which provides a modern leadership platform, announced it’s completed its first funding round.

The “modern leadership platform” raised $5 million in seed funding, led by Uncork Capital and Crosslink Capital. Koan will use the funds to scale its team and further grow the platform.

Koan is a suite of tools that support leadership at every scale of business, acting as a strategic fabric organization-wide. Koan’s collaborative approach to objectives and key results (OKR) and goals is the only solution that encompasses an entire company. Carta, Iterable and Vacasa are among the companies using Koan.

Koan CEO Matt Tucker launched the company after learning how difficult it often is to align the roles of CTO and manager at his previous startup, Jive Software.

“Great plans just don’t cut it,” said Tucker in a blog post. “Employees need to see how their work matters, and you need to be able to understand their work and help them deliver.”

“Koan brings a fresh approach to leadership,” said Andy McLoughlin of Uncork Capital “Leaders in competitive sectors know how important it is to engage every team with the company’s strategy through OKRs and other processes. Now is the time to move these critical behaviors out of spreadsheets and off whiteboards and into a software product that users love. Koan is well-positioned to tackle this amazing opportunity.”

Koan’s customer base has grown to more than 130 companies worldwide.