AUSTIN, Texas--(BUSINESS WIRE)--Khorus, a business management system for CEOs to more effectively turn strategy into execution, has closed a $4 million Series A investment round led by company founder Joel Trammell and angel investor Tom Greig. This brings the company’s total funding to $6 million. Khorus will use the investment to market the software to CEOs of mid-size and large companies, advance product R&D, and expand the team.
“I’ve worked with Joel Trammell for more than 15 years and have witnessed his ability to not only develop great technology products but also build and run a world-class organization,” said Tom Greig, senior managing director of private equity firm Liberty Partners. “Khorus is an application that will appeal to any CEO who wishes to have a better handle on what’s really going on in the organization and take action before problems escalate. As an investor, I wish my portfolio companies had access to this years ago.”
Since launching its product in February 2014, Khorus has gained 25 customers in industries ranging from finance to healthcare to higher education. The Khorus application is a single system of record that aligns every employee’s goals with the strategic objectives of the CEO and executive team. Then, on a weekly basis, the system collects crowdsourced, forward-looking intelligence on those goals from all employees.
With this insight, gleaned from a quick dashboard view, the CEO can ensure that all organizational commitments are on track and supporting company strategy, better predict future performance, and make more informed decisions. In addition, the CEO can spot problems that may be developing and take measures to address them.
“CEOs don’t need more data. What they do need is actionable information that helps them manage their businesses better,” said Joel Trammell, Khorus CEO. “The Khorus platform is an early-warning system, showing the CEO and leadership team when they need to adjust and adapt to keep the company moving forward.”
Designed for companies with 100 or more employees, Khorus can be accessed via the Web or iPad. Version two of the software, which will support mobile devices, will be available in the next few months.
Austin, Texas-based Khorus provides business management software and a methodology to help CEOs run their organizations more effectively using weekly, predictive insight from every employee. Designed by veteran CEO Joel Trammell, Khorus enables leaders to align employees to strategic objectives, get timely intelligence, and forecast the likelihood of achieving each goal. With this platform in place, CEOs have a single system for enhancing company performance and their own effectiveness, avoiding uncertainty and surprises, and handling the unique measurement and management challenges of today’s complex knowledge-work. Learn more at khorus.com.