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Lever Secures $30 Million in Series C Funding to Fuel Next Phase of Recruiting Innovation

SAN FRANCISCO, July 20, 2017 (GLOBE NEWSWIRE) -- Lever, the recruiting software of choice for more than 1,300 leading companies around the world, has secured $30 million in Series C financing. Adams Street Partners led the round, with participation from existing investors Matrix Partners and Scale Venture Partners. Lever will use the new funds to fuel innovation and R&D, with a particular emphasis on meeting the talent acquisition needs of highly complex, global enterprise more seamlessly and intuitively. Lever has raised $62 million to date.

Lever’s Talent Acquisition Suite consists of Lever Hire, which combines applicant tracking system (ATS) and CRM functionality in a single platform to power hiring across the entire organization; Lever Nurture, a sourcing automation product designed to proactively and personally engage candidates at scale; and Lever Analytics, which enables talent teams to continually assess and improve their recruiting processes.

“Rapid hiring cycles are often associated with high-growth startups, but the truth is that midmarket and enterprise businesses struggle with identifying top-tier candidates as much – if not more – than their smaller counterparts,” said Mike Zappert, Partner, Adams Street Partners. “As efficient hiring is a universal need, we see an enormous market opportunity for Lever, and look forward to working closely with the Company as it continues on its path to becoming the market leader in hiring software.”

As part of the funding, Mr. Zappert will join Lever’s board of directors.

"Hiring today is fiercely competitive – not just in Silicon Valley, but globally," said Sarah Nahm, CEO of Lever. “Candidates are demanding a personalized hiring experience, which means businesses must develop and nurture relationships. Lever provides the tools to create and maintain these relationships. We look forward to using our new financing to share our software with a wider variety of businesses.”

In recent months, Lever has made multiple enhancements to its software to better serve larger clients with more complex needs, including obtaining SOC2 Type II security compliance and creating an EEOC solution to support OFCCP compliance. Lever also recently added two new members to its executive team: Mike Bailen, VP of People and Rob Tomchick, SVP of Sales, both of whom will aid in its expansion to the enterprise market.

Lever has more than 100 employees, of whom 50 percent are women.

About Lever
Built from the conviction that recruiting is the responsibility of everyone at the company, Lever’s Talent Acquisition Suite draws the entire team together to efficiently source, nurture, interview, and hire top talent through effortless collaboration. Lever has been intentionally designed with integrated ATS and CRM functionality, and features a modern interface that helps employers develop stronger candidate relationships in fewer clicks.

Lever was founded in 2012 and supports the hiring needs of over 1,300 leading companies around the globe including the teams at Netflix, Lyft, Hot Topic, and Owens-Illinois. With an overall gender ratio of 50:50, Lever is also fiercely committed to building a team culture that celebrates diversity and inclusion. For more information, visit https://www.lever.co.

About Adams Street Partners
The Adams Street Venture/Growth Team leads $5 million to $30 million investments into high growth technology and healthcare companies. The Team has nine dedicated investment professionals who manage over $2 billion in assets, and focuses on venture capital and growth equity investments in the SaaS, Mobile, Cloud, Security, FinTech, Healthcare IT, Medical Device, and BioPharma spaces.

Adams Street Partners is one of the largest and most established private markets investment firms in the world. Adams Street was founded in 1972, and manages $30 billion of assets across five strategies – primary and secondary private equity fund investments, co-investments, private credit, and venture/growth investments. Adams Street employs 150+ professionals in Beijing, Boston, Chicago, London, Menlo Park, Munich, New York, Singapore, and Tokyo.

Media Contact: Jennefer Traeger Traeger Communications 720-988-6149 jtraeger@traegercommunications.com

Source:Lever, Inc.