Total amount raised
$161.4 Million
Latest funding date
4/1/2021
Location
Phenom has successfully raised funding over five rounds, with the latest being a Series D round involving multiple investors. The company leverages AI to assist businesses in hiring, developing, and retaining employees.
Keep reading to explore the intricacies of Phenom's fundraising journey and the investors backing this innovative platform.
What Is Phenom?
Phenom is an HR technology company that leverages artificial intelligence to assist businesses in hiring, developing, and retaining employees. Founded in Ambler, Pennsylvania, the company operates in various sectors including AI, Human Resources, Machine Learning, Recruiting, SaaS, and Software.
With a workforce ranging from 1001 to 5000 employees, Phenom has a global presence, including offices in the United States, India, Netherlands, Israel, United Kingdom, and Germany. The company serves over 700 global brands, enhancing the talent experience through AI and automation.
How Much Funding Has Phenom Raised?
- Series A (2015-10-20)
- Amount Raised: USD 6,970,000
- Date: October 2015
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance their AI-driven HR technology platform.
- Series A (2016-02-10)
- Amount Raised: USD 2,449,000
- Date: February 2016
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and improve their product offerings.
- Series B (2018-05-24)
- Amount Raised: USD 22,000,000
- Date: May 2018
- Lead Investors: AVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and further develop their AI capabilities.
- Series C (2020-01-16)
- Amount Raised: USD 30,000,000
- Date: January 2020
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance their Talent Experience Management platform and expand globally.
- Series D (2021-04-07)
- Amount Raised: USD 100,000,000
- Date: April 2021
- Lead Investors: B Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue innovating their Talent Experience Management platform and support company growth.
Phenom has raised a total of USD 161,419,000. The current valuation is not publicly disclosed.
Key Investors
- B Capital
- Details: B Capital is a global investment firm that focuses on growth-stage companies. They aim to transform large traditional industries through technology and innovation.
- Investment Focus Areas: Enterprise software, fintech, healthcare, consumer enablement
- Notable Investments: Bird, Evidation Health, Ninja Van
- WestBridge Capital
- Details: WestBridge Capital is an investment firm that focuses on high-growth companies in India and South Asia. They provide capital to companies across various stages of growth.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Not publicly disclosed
- AVP
- Details: AVP, also known as Alpha Venture Partners, is a venture capital firm that invests in early to growth-stage technology companies. They partner with other venture firms to provide additional capital and support.
- Investment Focus Areas: Technology, SaaS, enterprise software
- Notable Investments: Not publicly disclosed
- Sierra Ventures
- Details: Sierra Ventures is a Silicon Valley-based venture capital firm that invests in early-stage technology companies. They have a strong focus on enterprise and consumer technology sectors.
- Investment Focus Areas: Enterprise software, consumer technology, SaaS
- Notable Investments: Phenom, Sourcegraph, Treasure Data
- Dragoneer Investment Group
- Details: Dragoneer Investment Group is a long-term investment firm that focuses on growth-oriented private and public companies. They specialize in technology-enabled businesses.
- Investment Focus Areas: Technology, consumer, healthcare
- Notable Investments: Airbnb, DoorDash, Spotify
What's Next for Phenom?
Phenom's future looks promising with significant opportunities on the horizon. The company has 150 open positions, indicating a substantial hiring effort to support its growth. The recent $100 million Series D funding round provides ample resources to innovate and expand their Talent Experience Management platform, serving over 400 global enterprises, including nearly 50 Fortune 500 companies.
Future fundraising opportunities seem likely, given the strong backing from prominent investors like B Capital Group and Dragoneer Investment Group. However, Phenom may face challenges such as competition from other AI-powered talent management solutions and the need to continuously innovate to stay ahead. Scaling operations and maintaining company culture as they grow will also be critical.
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