Total amount raised
$34.5 Millions
Latest funding date
9/1/2022
Location
Ashby has successfully raised $30 million in its latest Series C funding round, attracting a diverse group of investors. The company specializes in developing human resource software designed to streamline hiring and manpower management for high-growth companies.
Keep reading to explore the intricacies of Ashby's fundraising journey and the investors backing this innovative platform.
What Is Ashby?
Ashby, founded in 2018 by Abhik Pramanik and Benjamin Encz, is headquartered in San Francisco, California. The company specializes in developing human resource software aimed at streamlining hiring and manpower management for high-growth companies.
With a team of 101-250 employees, Ashby offers an all-in-one recruiting platform that includes ATS, Scheduling, CRM, and Analytics. Their software is designed to be user-friendly, scalable, and capable of automating various hiring processes.
By providing comprehensive tools for recruiters and hiring managers, Ashby enables companies to run their hiring processes more efficiently and effectively.
How Much Funding Has Ashby Raised?
- Seed Round
- Amount Raised: $3.5M
- Date: March 2019
- Lead Investors: Lachy Groom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their HR software and establish a market presence.
- Convertible Note
- Date: March 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide additional working capital for early-stage operations.
- Series A
- Amount Raised: $10M
- Date: August 2020
- Lead Investors: Elad Gil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the product and expand the team.
- Series B
- Amount Raised: $26.5M
- Date: March 2022
- Lead Investors: F-Prime Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product features and support a growing customer base.
- Series C
- Amount Raised: $30M
- Date: June 2024
- Lead Investors: Lachy Groom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue product development and expand enterprise operations.
Total Amount Raised: $70M. Current Valuation: Not publicly disclosed.
Key Investors
- Lachy Groom
- Details: Lachy Groom is a prominent investor known for his early-stage investments in technology companies. He has a background in product management and has been involved in several successful startups.
- Investment Focus Areas: Technology, Fintech, SaaS
- Notable Investments: Stripe, Figma, Notion
- F-Prime Capital
- Details: F-Prime Capital is a venture capital firm that invests in technology and healthcare sectors. They have a global presence and a strong track record of successful investments.
- Investment Focus Areas: Technology, Healthcare, Biotech
- Notable Investments: Moderna, Datadog, Iora Health
- Elad Gil
- Details: Elad Gil is a well-known entrepreneur and investor with a history of successful investments in high-growth technology companies. He has also co-founded several startups.
- Investment Focus Areas: Technology, Biotech, Consumer Internet
- Notable Investments: Airbnb, Coinbase, Stripe
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded numerous successful startups. They provide seed funding, mentorship, and resources to early-stage companies.
- Investment Focus Areas: Early-stage Startups, Technology, Consumer Internet
- Notable Investments: Dropbox, Airbnb, Reddit
What's Next for Ashby?
With $30 million in Series C funding, Ashby is poised to capitalize on significant opportunities in product development and enterprise expansion. The company supports over 1,300 customers, including large enterprises, indicating a substantial market presence and potential for further growth.
Future fundraising opportunities seem promising as Ashby continues to enhance its product features and expand its customer base. However, the company may face challenges such as competition from other HR technology providers and the need to keep up with rapid technological advancements. Scaling operations to support a growing number of large enterprise customers will also be crucial.
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