Ninety raises $35m funding to develop tools to help SMB leaders transition to the new era of work
Ninety, the all-in-one cloud-based platform supporting many Business Operating Systems (BOSs), has raised a $35 million Series B round of funding, led by Blue Cloud Ventures with participation from Catalyst Investors and existing investor Insight Partners.
Ninety is a platform built for small to mid-size businesses (SMB) leaders wrestling with growth challenges to provide them with clear strategies and accountability structures to empower their teams to find success in the modern business environment. Valuing the company at over $200 million, this new round of investment will be used to provide impactful enhancements to what has already become an industry-leading platform.
Currently, Ninety's platform is being used by over 10,000 businesses and helping thousands of their coaches, like those associated with the Entrepreneurial Operating System® (EOS®), master the art and science of building a great organization. Since its inception in 2016, Ninety's average customer has consistently experienced more than 20% annual growth rates, as compared to the 2–5% annual growth rate associated with the average small to midsize business in the US.
Eric Guardiola, Principal, Blue Cloud Ventures: "It is incredibly exciting to see a platform unleash the potential of small businesses and entrepreneurs. The opportunity to join Ninety in reshaping the way work is done - locally, regionally, nationally, or internationally - is extremely compelling for us. We believe Ninety and its partnerships with some of the world's leading coaching communities, is uniquely positioned to meet the needs of the ever-evolving world of work, and we couldn't be more happy to partner with them to make this happen."
Fueled by the increased demand for tools that make it easier for teams to successfully work from anywhere, Ninety has experienced over 80% year-over-year growth since the company was launched. This has brought the company to nearly $25 million in annual recurring revenue with net dollar retention that positions it in the upper quadrant of all software providers, not just those in SMB.
Mark Abbott, Founder and CEO, Ninety: "What we are seeing today at Ninety is the evidence of how a relatively small collection of time-tested concepts, tools, and disciplines; a not inconsequential amount of technology; some great support from our coaching partners; and our world-class educational materials, can dramatically help owners transition from simply operating a business into having a lasting company that is built for the next age of work. This round of funding comes at a crucial time as we are now developing additional tools that will help empower leaders and teams to cut through all of the static that exists in today's economy and create collective clarity among all their ideal stakeholders so they can help us all get a bit closer to achieving our true potential. For the ambitious leaders who are currently wrestling with growth challenges, we are the perfect companion to help them capture core data, document core processes, and instill humane based accountabilities that are essential for creating lasting success."