SAN FRANCISCO, Jan. 28, 2016 (GLOBE NEWSWIRE) -- Lever, a software company powering recruiting for more than 700 companies around the world including Netflix, Lyft, Eventbrite and Shopify, has secured $20 million in Series B financing. Scale Venture Partners led the round with participation from existing Lever investors Matrix Partners and Index Ventures, as well as new investors Correlation Ventures and a syndicate led by Naval Ravikant, CEO and co-founder of AngelList. Lever will use the new funding to fuel product development, sales and marketing. Lever has raised $32.8 million to date.
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Recognized by RecruitingDaily as one of the top 10 HR Technology and Recruiting Tools of 2015, Lever’s applicant tracking system (ATS) helps companies of all sizes source, interview, and hire top talent in a fundamentally more human way. Its unique candidate-centric approach, combined with its emphasis on involving all employees in the process, creates an efficient path to hiring the market’s best candidates.
“Lever is effectively addressing a universal pain point – hiring – which has led to, and will continue to lead to, its rapid growth,” said Stacey Bishop, partner at Scale Venture Partners. “The team has provided a fresh perspective to an old problem, creating a platform that makes the process of hiring a more personal, collaborative and positive experience. We look forward to supporting the team in the next phase of the company’s evolution.”
As part of the funding, Bishop will join Lever’s board of directors. This addition will bring Lever’s female board representation to 40 percent – a significant fact given that Lever’s co-founder and CEO Sarah Nahm has long been vocal about her belief that diverse and inclusive teams lead to healthier organizations. Lever’s current team is 48 percent non-Caucasian and 42 percent female, with 43 percent female leadership.
"Companies today are always recruiting, and landing quality hires is incredibly competitive. Organizations that shift to meaningfully involving all the right stakeholders in the hiring process - from recruiters to hiring managers - and building talent relationships, rather than viewing recruitment as transactional, are likeliest to win," said Nahm. “With this new financing, and leveraging Scale’s deep experience with SaaS companies, we are poised to power the process for thousands of companies as they reinvent the way they recruit and hire."
With its unique candidate-centric approach and emphasis on hiring team collaboration, Lever’s applicant tracking and sourcing technology helps businesses source, interview, and hire top talent in a fundamentally more human way. Lever was founded in 2012 in San Francisco. The company has raised more than $32 million in funding from Scale Venture Partners, Matrix Partners, Y Combinator, Redpoint Ventures, and Correlation Venture among others. Lever supports the hiring needs of hundreds of companies around the globe including the teams at Netflix, Yelp, Lyft, and Quora. For more information, visit https://www.lever.co or the company press page at https://www.lever.co/press.
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