Total amount raised
$10.5 Millions
Latest funding date
5/1/2021
Location
Gem has successfully raised significant funding across multiple rounds, attracting notable investors such as Sapphire Ventures and Meritech Capital Partners. The platform offers an all-in-one recruiting solution that integrates with LinkedIn, Gmail, and various applicant tracking systems.
Keep reading to explore the intricacies of Gem's fundraising journey and the investors backing this innovative platform.
What Is Gem?
Founded in 2017 by Nick Bushak and Steven Bartel, Gem is headquartered in San Francisco, California. The company specializes in providing an AI-first all-in-one recruiting platform that integrates with LinkedIn, Gmail, and various applicant tracking systems.
Gem's platform is designed to streamline the recruitment process, offering features such as ATS, CRM, sourcing, scheduling, and analytics. This comprehensive approach aims to save time, reduce costs, and improve recruiter productivity.
With a workforce of 1001-5000 employees, Gem continues to innovate in the recruiting space, helping companies find, engage, and nurture top talent efficiently.
How Much Funding Has Gem Raised?
- Seed Round
- Amount Raised: $10.5M
- Date: May 11, 2021
- Lead Investors: CircleUp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technology.
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: March 1, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and hire more staff.
- Series C
- Amount Raised: $100M
- Date: September 28, 2021
- Lead Investors: ICONIQ Capital
- Valuation at Round: $1.2 billion
- Motivation Behind the Round: For product improvement and international expansion.
Total Amount Raised: $110.5M. Current Valuation: $1.2 billion.
Key Investors
- Sapphire Ventures
- Details: Sapphire Ventures is a venture capital firm that invests in growth-stage technology companies. They have a global presence and a strong track record of successful investments.
- Investment Focus Areas: Technology, enterprise software, digital health.
- Notable Investments: Box, Square, LinkedIn.
- Meritech Capital Partners
- Details: Meritech Capital Partners focuses on late-stage venture capital investments in technology companies. They are known for their strategic support and extensive network.
- Investment Focus Areas: Technology, enterprise software, consumer internet.
- Notable Investments: Facebook, Salesforce, Tableau.
- ICONIQ Capital
- Details: ICONIQ Capital is a financial advisory and venture capital firm that invests in technology companies. They offer a unique blend of investment and advisory services.
- Investment Focus Areas: Technology, financial advisory services, enterprise software.
- Notable Investments: Airbnb, Uber, Snowflake.
- Accel
- Details: Accel is a venture capital firm that focuses on early and growth-stage investments in technology companies. They have a long history of backing successful startups.
- Investment Focus Areas: Technology, consumer internet, enterprise software.
- Notable Investments: Facebook, Slack, Dropbox.
- Greylock Partners
- Details: Greylock Partners is a venture capital firm that invests in early-stage companies in the consumer and enterprise software sectors. They are known for their deep industry expertise.
- Investment Focus Areas: Consumer internet, enterprise software, technology.
- Notable Investments: LinkedIn, Airbnb, Workday.
What's Next for Gem?
Gem's future looks promising as it eyes expansion into high-growth regions like Western Europe and parts of Asia Pacific. The increased demand for modern recruiting software, driven by the COVID-19 pandemic, presents a significant opportunity for growth. With over 800 clients and a valuation of $1.2 billion, the company is well-positioned to capitalize on these opportunities.
Future fundraising seems likely, given Gem's rapid growth and recent successful funding rounds. However, the company will need to navigate challenges such as establishing its brand in new international markets and continuously improving its product to stay ahead of competitors. Managing rapid growth while maintaining service quality will also be crucial for sustained success.
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