Total amount raised
$161.4 Millions
Latest funding date
4/1/2021
Location
Phenom has successfully raised significant funding across multiple rounds, attracting notable investors such as OMERS Growth Equity and B Capital. The platform leverages AI to enhance the talent experience, connecting candidates, employees, recruiters, and HR professionals.
Keep reading to explore the intricacies of Phenom's fundraising journey and the investors backing this innovative platform.
What Is Phenom?
Phenom, founded on August 6, 2010, is an HR technology company based in Ambler, Pennsylvania. The company was established by Brad Goldoor, Hari Bayireddy, and Mahe Bayireddi.
Phenom offers an AI-powered talent experience platform designed to enhance hiring, development, and retention processes. Their solutions include hyper-personalization for candidates, intelligent career pathing for employees, and automation for recruiters.
With a workforce of 1001-5000 employees, Phenom connects candidates, employees, recruiters, and HR professionals to streamline talent management.
How Much Funding Has Phenom Raised?
- Series A (Oct 20, 2015)
- Amount Raised: $7M
- Date: October 2015
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop and enhance their AI-powered talent experience platform.
- Series A (Feb 10, 2016)
- Amount Raised: $2.4M
- Date: February 2016
- Lead Investors: Sierra Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand their market reach and improve platform capabilities.
- Series B (May 24, 2018)
- Amount Raised: $22M
- Date: May 2018
- Lead Investors: AXA Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and scale operations.
- Series C (Jan 16, 2020)
- Amount Raised: $30M
- Date: January 2020
- Lead Investors: WestBridge Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance AI capabilities and expand global presence.
- Series D (Apr 7, 2021)
- Amount Raised: $100M
- Date: April 2021
- Lead Investors: B Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue innovating the Talent Experience Management (TXM) platform.
Total Amount Raised: $161.4M. Current Valuation: Not publicly disclosed.
Key Investors
- B Capital
- Details: B Capital is a global investment firm that partners with extraordinary entrepreneurs to shape the future through technology. They focus on investing in growth-stage companies that are transforming large industries.
- Investment Focus Areas: Enterprise Software, Fintech, Healthcare, Industrial and Transportation, Consumer Enablement
- Notable Investments: Phenom, Evidation Health, Ninja Van
- WestBridge Capital
- Details: WestBridge Capital is an investment firm that focuses on investments in India and South Asia. They invest in both public and private companies, providing growth capital to high-quality businesses.
- Investment Focus Areas: Consumer Services, Financial Services, Healthcare, Technology, Industrials
- Notable Investments: Phenom, OYO Rooms, PolicyBazaar
- AXA Venture Partners
- Details: AXA Venture Partners is a venture capital firm that invests in high-growth, technology-enabled companies. They provide both early-stage and growth-stage funding to innovative startups.
- Investment Focus Areas: Fintech, Enterprise Software, Digital Health, Insurtech, Consumer Technology
- Notable Investments: Phenom, Zenjob, Happytal
- Sierra Ventures
- Details: Sierra Ventures is a Silicon Valley-based early-stage venture capital firm. They focus on investing in enterprise and emerging technology companies, providing support from seed to growth stages.
- Investment Focus Areas: Enterprise Software, Cloud Computing, Big Data, Mobile, Security
- Notable Investments: Phenom, Sourcegraph, Treasure Data
What's Next for Phenom?
Phenom stands at the cusp of significant growth, driven by the increasing demand for AI-powered talent management solutions. With a robust platform already serving over 400 global enterprises, including nearly 50 Fortune 500 companies, the potential for expansion is vast. The company aims to enhance its Talent Experience Management (TXM) platform, focusing on areas like Diversity & Inclusion, Internal Mobility, and Career Pathing.
Future fundraising opportunities seem promising, given the successful $100 million Series D round led by B Capital Group. This financial backing positions Phenom well for further investment rounds, should they choose to pursue them. However, the path forward is not without challenges. The company must navigate intense competition, rapid technological advancements, and the complexities of ensuring data privacy and security on a global scale.
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