Total amount raised
$217.8 Million
Latest funding date
08/01/2018
Location
Namely has successfully navigated 10 funding rounds, with its latest being a Series E involving six investors, including Notable Capital. The company has also been acquired by PrismHR and has made one acquisition, Vensure Employer Services.
Namely's platform offers a comprehensive suite of Human Capital Management (HCM) solutions, including core HR, Payroll, and Time management, along with enhanced modules and managed services. Keep reading to explore the intricacies of Namely's fundraising journey and the investors backing this innovative platform.
What Is Namely?
Namely, based in New York, New York, operates in the Enterprise Software, Human Resources, Management Information Systems, SaaS, and Software industries. The company employs between 1001 and 5000 people.
Namely offers an all-in-one Human Capital Management (HCM) platform that streamlines HR processes, enhances employee experiences, and improves organizational efficiency. Their services include HR, payroll, benefits administration, compliance, and more.
How Much Funding Has Namely Raised?
- Series E
- Amount Raised: USD 60,000,000
- Date: August 2018
- Lead Investors: Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growth and development of Namely's HR platform.
- Series D
- Amount Raised: USD 50,000,000
- Date: January 2017
- Lead Investors: Altimeter Capital, Scale Venture Partners
- Valuation at Round: Close to $1 billion
- Motivation Behind the Round: To grow Namely's existing business and expand into new products, including timekeeping and hardware for businesses that employ hourly workers.
- Series Unknown
- Amount Raised: USD 30,000,000
- Date: February 2016
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance the platform's capabilities and expand market reach.
- Series C
- Amount Raised: USD 45,000,000
- Date: June 2015
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and improve product offerings.
- Series Unknown
- Amount Raised: USD 11,000,000
- Date: March 2015
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance service capabilities.
- Series B
- Amount Raised: USD 12,000,000
- Date: November 2014
- Lead Investors: Matrix
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the customer base and improve platform features.
- Seed
- Amount Raised: USD 4,700,000
- Date: June 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and enter the market.
- Series A
- Amount Raised: USD 3,350,000
- Date: June 2013
- Lead Investors: True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To build out the team and enhance the platform.
- Seed
- Amount Raised: USD 750,000
- Date: October 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fund early-stage development and operations.
- Angel
- Amount Raised: USD 1,000,000
- Date: January 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop the initial concept.
Total Amount Raised: USD 216,800,000. Current Valuation: Not publicly disclosed.
Key Investors
- Altimeter Capital
- Details: Altimeter Capital is a technology-focused investment firm. They led Namely's Series D funding round.
- Investment Focus Areas: Technology, software, internet sectors
- Notable Investments: Snowflake, Unity Technologies, Roblox
- Scale Venture Partners
- Details: Scale Venture Partners invests in early-in-revenue technology companies. They co-led Namely's Series D funding round.
- Investment Focus Areas: SaaS, cloud computing, digital health
- Notable Investments: Box, DocuSign, HubSpot
- Sequoia Capital
- Details: Sequoia Capital is a venture capital firm known for its investments in technology and healthcare. They participated in Namely's Series D funding round.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Apple, Google, WhatsApp
- Matrix Partners
- Details: Matrix Partners focuses on early-stage investments in technology and software companies. They participated in Namely's Series D funding round.
- Investment Focus Areas: Technology, software companies
- Notable Investments: HubSpot, Zendesk, Oculus
- True Ventures
- Details: True Ventures invests in early-stage technology companies. They participated in Namely's Series D funding round.
- Investment Focus Areas: SaaS, consumer tech, digital health
- Notable Investments: Fitbit, Peloton, Ring
What's Next for Namely?
Namely stands poised to capitalize on several significant opportunities. With plans to expand into new products like timekeeping and hardware for hourly workers, the company is set to tap into a growing market. Additionally, Namely's focus on mid-sized companies and its robust SaaS platform position it well to absorb customers from competitors facing challenges.
Future fundraising opportunities appear promising, particularly with the potential for an IPO as a billion-dollar company. This move could provide the necessary capital to further enhance their platform and expand their market reach. However, Namely will need to navigate competition from established players and maintain compliance with evolving regulations to sustain its growth trajectory.
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