Today we announced our investment in Ninety’s $35M Series B – we’re thrilled to partner with Blue Cloud Ventures, Insight Partners and the entire Ninety team as the Company enters this next chapter.
Ninety offers business operating system (“BOS”) software to SMBs. The company is at the forefront of a huge opportunity because literally every single business is already running on a BOS (whether they know it or not). A business’s BOS is kind of like its operating manual – it’s a set of practices that dictate how the business is run, whether day-to-day or quarter-to-quarter. It can be anything from a Fortune 500 company’s detailed set of mission, values, financial targets, policies and procedures; to a meeting routine that a startup unintentionally started following. But while every business runs on a BOS, many fail to leverage best practices, which is Ninety’s opportunity.
CEO Mark Abbott discovered the power of an effective BOS through his own experiences building businesses and managing teams. As Mark was thinking through the possibility of building a universal framework, he was excited to come across Entrepreneurial Operating System (“EOS”), a BOS that was built upon many of the same principles he championed.
But there was one distinct difference – Mark was a strong believer in leveraging technology to supercharge the BOS and drive superior outcomes. Most companies run their BOS manually via spreadsheets, static documents and emails, and EOS was no exception. In 2016, Mark and the Ninety team jumped on the opportunity to develop a SaaS platform for effectively running EOS. Ninety’s platform helps companies execute their mission via tools for defining values and goals, running meetings, creating and assigning tasks, tracking roadblocks and progress, and managing individual performance.
Through customer conversations we learned that companies running EOS on Ninety consistently achieve a measurable positive impact; cited examples included re-accelerated growth, increased profitability, and bandwidth to tackle new initiatives. This results in strong customer retention and expansion (a company often starts with one team on Ninety and implements it across the organization over time). Further, EOS has a network of 700+ licensed coaches (“EOS implementors”) who collectively establish an attractive customer acquisition channel and support Ninety’s capital efficient growth.
The EOS ecosystem represents a massive opportunity for Ninety in and of itself, as there are over 170K companies running on EOS across the word. But Ninety’s reach goes far beyond EOS – again, every company runs on a BOS and therefore can benefit from operating Ninety. As Ninety has grown it has expanded into additional coaching ecosystems such as Pinnacle and Fireproof, and it even has its own proprietary framework called 90os. Ninety can support businesses of all sizes, across industries and geographies, to implement BOS best practices and hit their goals.
This is just the tip of the iceberg. While Ninety currently establishes the foundation on which to run a successful business, soon it will take an active role in driving high performance. Ninety sits on a massive amount of customer data which it will leverage to provide users with training and advice inside the platform, guiding them to effectively collaborate, prioritize tasks and issues, and make informed decisions day-to-day. In other words, Ninety will serve as a company’s digital business coach.
When we first met Ninety, we immediately aligned on our shared mission to help build great businesses. The Company has a massive opportunity ahead and has the right team to go after it. We’re excited to be working with them.