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New York City-based Namely, a human resources software provider, announced today it raised an additional $30 million.
Existing investor Sequoia led the round with support from Matrix Partners, True Ventures and Greenspring Associates. It's a follow-on to its Series C funding round in June and brings the total venture capital raised to $107.8 million.
The 4-year-old company also announced it now processes more than $2.5 billion in annual payroll, doubled its client base, added a leadership team and deepened core technology and operations.
With today's $30 million, Namely will continue to invest in its core HR, payroll and benefits technology and operations in order to help mid-market companies streamline their end-to-end HR process, address regulatory challenges and increase employee engagement.
“The amount of regulatory complexity facing HR has grown tremendously in the last year, and we expect that trend to continue in 2016,” Matt Straz, founder and CEO of Namely, said in a statement.
He added that Namely, makes it "much easier for HR leaders to manage compliance, so they can spend their time on strategy, engagement, and developing people — the things they love to do.”
Namely plans to open an office in Austin. In addition to its headquarters, it also maintains an office in San Francisco.
New President for Canto
San Francisco digital asset management (DAM) provider Canto appointed the former CEO of YuMe, Inc. and SET Media Inc. as its new president. Michael Mathieu joins the provider and will focus on expanding Flight, the company’s Software-as-a-Service (SaaS), cloud-based DAM solution.
Flight aims to help enterprises organize and manage digital assets, from logos and stock imagery to video content, "without the restrictions or permission problems found in simple file sharing services," according to Canto officials.
Jack McGannon, Canto CEO, said Mathieu has a track record of growing businesses from the ground up.
Mathieu will focus on the continuing development of Flight’s management and services while leading the culture responsible for Flight’s sales growth in 2015, Canto officials said.
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“I saw an opportunity with Canto given the current shift to cloud-based computing,” Mathieu said. “Because of my background in providing services to marketers and content providers, I’ve noticed a gap in the type of available services for which Flight is perfectly suited."
According to his LinkedIn profile, Mathieu also serves as founder and CEO of Shannon Road Ventures, LLC, a gig he landed a year ago. He was also president of Interactive, a Freedom Communications, Inc. company for two years after a six-year stint as senior vice president at United Online.
Cash for Social
It's not as big as Sprout Social's investment last week, but it's another round of cash for social management.
San Diego-based SOCi, Inc., a social media content discovery and marketing company, has raised an additional $2.25 million to expand into new sales verticals and grow its platform.
New investors included Taner Halicioglu, Facebook’s first full-time, non-founding employee, Doug Hecht, former COO and president of Digitaria (acquired by J. Walter Thompson), and the venture capital fund GrowthX. Repeat investors Trevor and David Klein, co-founders of AutoAnything (acquired by AutoZone), and Asaf Benheim, founder of iMatrix (acquired by Internet Brands), also participated.
SOCi will use the funding to help enterprises, multi-location brands, franchises and digital agencies take a more scientific and scalable approach to social media management.
Since its hard launch in early 2015, SOCi has grown from serving five partners to more than 85, according to company officials. SOCi has hired more than 20 new team members in the past year and will continue to hire "aggressively" in 2016. The new funding will complement SOCi’s $1.5 million Series A.
“SOCi is not for people who tweet from their couch,” Hacioglu, creator of Facebook’s infrastructure, said in a statement. “As an investor, I’m impressed by SOCi’s ability to provide a social media management platform that works for complex, global businesses. The fact that social teams can gauge how well content will perform before they even post it is extremely powerful. Social media is normally a trial and error endeavor — SOCi has made it more scientific than ever before.”
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