Namely (company)

Namely is a US human resources software company, founded in Greenpoint, Brooklyn on January 17, 2012. Namely offers human resources management tools to businesses.

Namely
TypePrivate
IndustryHuman Resources Management System
Founded2012
Headquarters
New York City
,
United States
Area served
New York, San Francisco, Atlanta, Austin, and Los Angeles
Key people
Larry Dunivan (CEO)
Number of employees
500
Websitewww.namely.com

History

On January 17, 2012, Namely was founded in Greenpoint, Brooklyn.

Namely’s early service offering included HR information system, social newsfeed, payroll, and performance management tools. In 2016, Namely and Cigna introduced a new benefits exchange[1] that included 12 pre-defined medical, dental, vision, and life insurance plans. That year, Namely also relocated its corporate headquarters to lower Manhattan. In 2017, Namely introduced two new services: Time Management and Managed Services.[2]

Since then, Namely has grown to add four more office locations in San Francisco, Los Angeles, Atlanta, and Austin. Currently, it has over 500 employees and serves more than 1000 clients.[3]

In May 2018, the company fired its founder and CEO Matt Straz for actions “inconsistent with that which is expected of Namely leadership".[4][5] In August Elisa Steele was appointed as Namely’s permanent CEO.[6] In July 2019, Larry Dunivan succeeded Elisa Steele as CEO.[7]

Funding

Namely received its Series A funding in June 2013, raising $3.4M with True Ventures[8] as the lead investor.

In November 2014, Namely raised a $12M[9] Series B. In June 2015, Sequoia Capital lead a $45M Series C.

Led by Altimeter and Scale Venture Partners, Namely raised $50M[10] in Series D funding in January 2017. After nine rounds from 24 investors, the company reached over $157.8M in total equity funding.

In August 2018, Namely announced a $60M growth round led by GGV Capital.[6]

Reception

In 2015, Namely was listed on Crain’s list of Best Places to Work in NYC.[11] In 2016, Namely was included on Forbes’ inaugural Cloud 100 list.[12] In 2018, Namely was included on the Inc. 500, JMP Hot 100, and Crain’s Fast 50.

References
  1. "Namely, Cigna bring new benefits exchange to mid-size companies". Retrieved 2019-04-15.
  2. "Namely Introduces Managed Services". Retrieved 2018-10-30.
  3. "Namely Ranks Among the Fastest-Growing Private Companies on the Inc. 500". Retrieved 2019-04-19.
  4. Alex Konrad (May 15, 2018). "New York HR Startup Namely Fires CEO Matt Straz Amid Investigation". Forbes. Retrieved December 2, 2018.
  5. Lizette Chapman (May 15, 2018). "Another HR Startup Ousts Its CEO Over Misconduct Claims". Bloomberg. Retrieved December 2, 2018.
  6. Connie Loizos (August 2, 2018). "Exclusive: HR startup Namely, once a high flier, gets a new CEO and $60 million in new funding to soar again". TechCrunch. Retrieved December 2, 2018.
  7. Steve Brooks (July 9, 2019). "Namely appoints Larry Dunivan as CEO". Enterprise Times. Retrieved August 29, 2019.
  8. "Namely raises $3.5 million Series A after expanding HR services to media and tech industries". Pando. 2013-06-11. Retrieved 2018-10-30.
  9. "HR software startup Namely catching fire, raises $12M". bizjournals.com. Retrieved 2018-10-30.
  10. "After rejecting Google, Namely raises $50M to take on the biggies in HR". TechCrunch. Retrieved 2018-10-30.
  11. "Crain's names 2015 Best Places to Work". Crain's New York Business. Retrieved 2018-10-30.
  12. "The Cloud 100". Forbes. Retrieved 2018-10-30.
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