Software can be a highly useful tool for organizations to expand or address their problems, but it can’t solve every issue. Denver-based Quantive is aware of this, which is why on Thursday it purchased AuxinOKR.
Quantive, formerly known as Gtmhub, was established in 2015 and created a platform to assist businesses in setting and managing their OKRs, or objectives and key outcomes. In order to satisfy the company’s objectives and growth plans, the platform integrates and collects data from teams, which is then used to continue building strategic OKRs.
AuxinOKR, a company based in the UK, offers consultancy services to businesses wishing to implement strategic plans and OKRs. Recently, Quantive purchased AuxinOKR in order to start its own consulting business.
“As a software company, we are aware that we may not always have everything a customer requires. According to Bo Pedersen, chief strategy officer and co-founder of Quantive, “We need services to wrap around the technology so that we can both define the engagements with customers and also define a roadmap for each customer that makes sense based on their maturity and the type of industry they operate in.
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Pedersen claimed that Quantive had collaborated with AuxinOKR before purchasing it in order to better serve its clients. The favorable customer reviews of AuxinOKR and its services that Quantive had attracted led to the company’s acquisition by Quantive.
New artificial intelligence technologies for Quantive’s platform were just being released when the transaction took place. The tools use corporate data to give clients industry- and role-specific OKRs and growth-promoting suggestions. The new AI technologies have reportedly been in development for the previous 12 months, according to Pedersen.
“The idea that we had when we set out on this journey was about making our customers successful,” Pedersen added. “By incorporating intelligence into the solution, we can do a lot more amazing things with the technology.”
Since its debut, Quantive has raised $160.6 million in capital and purchased three businesses. In December 2021, Quantive’s most recent round of fundraising reached a $120 million closure. At that time, the company intended to increase its platform’s prescriptive and predictive capabilities while also double its staff size.