San Francisco, CA, July 21th, 2021. COR, the leading project profitability solution, today announced a $6 million investment from important VCs and six Silicon Valley-based unicorn founders. At the time of funding, COR’s average growth was 9% MoM for the last 6 months with a 114% NRR and 4% 12-month Churn.
In the US, roughly $5 trillion per year (a quarter of the country’s GDP) comes from professional services including advertising, consulting firms, IT, legal and accounting services. On a global scale, there are almost one billion people offering services.
Most of these services are delivered as fixed price projects despite fees being derived from variable hours. Poor project estimates and overpromised deliverables can quickly shrink profit margins.