Total amount raised
$122.8 Millions
Latest funding date
01/01/2022
Location
Lever has successfully raised funds through multiple rounds, with its last funding round being a Private Equity round that closed on January 5, 2022. The company has attracted 30 investors, including notable names like K1 Investment Management and Apax Digital.
Lever's acquisition by Employ, announced on August 2, 2022, marks a significant milestone in its journey. Keep reading to explore the intricacies of Lever's fundraising journey and the investors backing this innovative platform.
What Is Lever?
Lever, founded in 2012, is a San Francisco-based company that provides a comprehensive talent acquisition suite. The platform, known as LeverTRM, combines applicant tracking system (ATS) and candidate relationship management (CRM) capabilities to help companies build strong relationships with candidates and achieve their hiring goals.
Lever was founded by Juan Miguel de Leon Vera, Nate Smith, Randal Truong, and Sarah Nahm. The company offers features like Lever Hire, Lever Nurture, and Lever Analytics, which assist talent teams in scaling their people pipeline, building authentic relationships, and making data-driven hiring decisions.
With a workforce of 501-1000 employees, Lever focuses on inclusivity and eliminating hiring bias. The platform's tools are designed to support scalable hiring, improve candidate relationships, and enhance the overall hiring process.
How Much Funding Has Lever Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Lever's talent acquisition platform.
- Convertible Note
- Amount Raised: $2.8M
- Date: October 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and expand initial market reach.
- Series A
- Amount Raised: $10M
- Date: October 2014
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product features.
- Series B
- Amount Raised: $20M
- Date: January 2016
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the customer base.
- Series C
- Amount Raised: $40M
- Date: July 2017
- Lead Investors: Adams Street Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in technology and expand market presence.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: October 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support strategic growth initiatives.
- Series D
- Amount Raised: $50M
- Date: November 2021
- Lead Investors: Apax Digital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally, invest in R&D, and enhance DEI initiatives.
- Private Equity Round
- Amount Raised: Not publicly disclosed
- Date: January 2022
- Lead Investors: K1 Investment Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue scaling and improving the platform.
Total Amount Raised: $122.8M
Current Valuation: Not publicly disclosed
Key Investors
- K1 Investment Management
- Details: K1 Investment Management is a private equity firm that focuses on investing in high-growth enterprise software companies. They partner with management teams to build category-leading businesses.
- Investment Focus Areas: Enterprise software, technology-enabled services, cybersecurity
- Notable Investments: Not publicly disclosed
- Apax Digital
- Details: Apax Digital Fund specializes in growth equity and growth buyout investments in high-growth enterprise software, consumer internet, and technology-enabled services companies worldwide. Mia Hegazy from Apax Digital joined Lever's board of directors.
- Investment Focus Areas: High-growth enterprise software, consumer internet, technology-enabled services
- Notable Investments: Lever
- Adams Street Partners
- Details: Adams Street Partners is a global private markets investment manager with investments across venture capital, growth equity, private credit, and private equity. They have a long history of partnering with innovative companies.
- Investment Focus Areas: Venture capital, growth equity, private credit, private equity
- Notable Investments: Not publicly disclosed
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They focus on companies that are poised for rapid growth and have the potential to become market leaders.
- Investment Focus Areas: SaaS, cloud computing, digital health
- Notable Investments: Not publicly disclosed
- Matrix
- Details: Matrix is a venture capital firm that invests in early-stage companies across various sectors. They have a strong track record of helping startups scale and achieve significant growth.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Not publicly disclosed
What's Next for Lever?
Lever's future is brimming with opportunities, particularly in global expansion and enhancing its technology partnerships. With a $50 million Series D funding round led by Apax Digital, Lever is well-positioned to invest in research and development, furthering its capabilities in talent analytics and DEI initiatives.
As the demand for comprehensive talent acquisition platforms grows, Lever's ability to integrate ATS and CRM solutions will be crucial. Future fundraising rounds could be on the horizon to support these ambitious goals. However, challenges such as navigating competition and managing global operations will require strategic planning and continuous innovation.
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