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Bulgarian Gtmhub Acquires a Second Company for 2022. Will a New Funding Round Follow Soon?

Gtmhub
Image credit: Radoslav Georgiev, co-founder, and CTO of Gtmhub
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  • The Bulgarian OKRs management software Gtmhub acquires Cliff.ai  (Greendeck Technologies, Ltd.), a UK-based operational intelligence software provider that uses machine learning to help business and operations teams track and analyze abnormal changes in the performance of KPIs.  
  • The deal marks the second acquisition of Gtmhub since the beginning of the year following the one of the OKR and status-tracking software Koan in February 2022. 
  • Having raised its record $120M Series C round in December 2021, Gtmhub might soon be raising another round after its investments in acquiring external technology capabilities. 

 

 

Upon raising its last round, the company announced plans to invest in the expansion of its software’s product offerings by including predictive and prescriptive features. Now with the acquisition of Cliff.ai, Gtmhub will fill in the gap between the data and insights used to inform and improve decision-making. The deal is of an undisclosed amount. 

“Cliff.ai’s capabilities align well with the Gtmhub product vision of delivering insights proactively. In a bit more detail, in Gtmhub, every external data source, KPI, and OKR can be processed through Cliff.ai’s service. The Gtmhub recommended approach to settings goals (KPIs are used to inform OKRs, and OKRs drive KPIs) can be covered even if Cliff.ai stays as a standalone product syncing data from Gtmhub,” Radoslav Georgiev, co-founder, and CTO of Gtmhub shares with The Recursive. 

How does the acquisition change the market position of Gtmhub?

As Georgiev explains, the deal puts Gtmhub at a significant market advantage. The company becomes the only strategic execution solution for businesses of any size, that has the ability to surface actionable insights and change the business segments of strategy execution. “Effective strategic execution can’t exist without operational excellence. Both are necessary for companies to achieve the best possible results, and both have data and insights at their core,” he adds. 

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Gtmhub has built the leading platform for strategy execution that is based on the Objectives and Key Results (OKR) management methodology.  While the AI/ML technologies of Cliff.ai allow enterprises to track and analyze their operations without manual intervention and arrive at better decisions.

What comes next for Gtmhub?

“While Cliff.ai will be available as a standalone offering, we believe that combining the two platforms will create the first truly comprehensive solution for organizations to ensure operational excellence while executing strategic priorities,” Georgiev explains. 

In the future, the Cliff.ai machine learning capabilities will be further leveraged to increase the value of the data analysis, correlation, and forecasting within the Gtmhub Strategy Execution Platform. It will also serve as the basis for future product innovations across the company’s products

Gtmhub has a track record of raising big rounds fast. Its last Series C marked the third consecutive time that the company managed to raise a round quicker than the standard 18-month startup fundraising timeline. It remains to be seen whether Gtmhub will raise more capital in the second quarter of 2022 on its way to becoming a unicorn. 

 

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Elena is an Innovation Reporter at The Recursive, an online media dedicated to the emerging tech and startup ecosystems in Southeast Europe. She is keen on sharing the innovation stories that shape the regional ecosystem and has a great interest in fintech, IoT, and biotech startups. Elena is currently finishing her Bachelor's Degree in Business Administration and Political Science at the American University in Bulgaria.
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