Profit.co raises $11 million in funding led by Elevation Capital

Profit.co, which provides software that allows clients to set, track and measure objectives and key results (OKR) for their employees, said on Tuesday that it raised $11 million in its first external round of funding after about four years of bootstrapping.

The funding round, closed in August 2022, was led by Elevation Capital that invested $9 million in equity, founder and chief executive Bastin Gerald told ET. The remaining was debt from multiple banks based in the US.