GGV Capital co-leads NY-based HR platform Namely’s $60m Series E

Elisa Steele, CEO of Namely (PRNewsfoto/Namely)

Namely, an HR technology firm focused on mid-sized companies, has completed a $60-million Series E round co-led by GGV Capital and US-based venture capital firm Tenaya Capital this week, it announced on Thursday.

Existing investors including Sequoia Capital, True Ventures, Matrix Partners and Scale Venture Partners also joined the round.

Namely, founded in 2012 and based in New York, currently serves more than 1,000 clients with over 175,000 employees globally. It provides an all-in-one platform for HR applications, including payroll, time management and benefits.

Upon the completion of Series E, it has raised a total funding of $217.8 million to date.

The company also announced the appointment of Elisa Steele as CEO. She joined Namely’s board of directors in 2017 and has been the head of the office of the CEO since May.

“Serving alongside Elisa on Namely’s board, I have already seen her make a tremendous impact,” David Skok, General Partner at Matrix Partners, said in the company’s statement. “Namely is addressing a critical challenge: companies must fight to retain the best talent. It is key to provide employees with the same seamless technology experiences that they enjoy as consumers in their workplace applications. That’s one of many areas where Namely excels and why it will continue to grow.”

Steele has over 25 years of leadership experience at technology companies. Before joining Namely, she was President and CEO of Jive Software and held senior positions at Microsoft, Skype, Yahoo! and NetApp.

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Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.