Ashby, a leading recruiting platform designed to scale hiring efficiently from startups to large enterprises, has raised $30 million in Series C equity financing. This round was led by Lachy Groom, who also led the company’s seed round, with participation from Elad Gil, F-Prime, Y Combinator, and existing Ashby customers. To date, Ashby has raised approximately $70 million.
Key Highlights:
- Revenue Growth: Ashby has seen a 6X increase in revenue since its Series B round.
- Purpose of Funding: The new funds will be used to enhance product development and expand enterprise operations.
- Company Background: Founded in late 2018 by Benjamin Encz and Abhik Pramanik, Ashby supports over 1,300 customers, including fast-growing startups and large enterprises with over 18,000 employees.
Statements from Leaders:
- Benjamin Encz, Co-Founder and CEO of Ashby: “At its best, fundraising accelerates something that is already going really well. We’re fortunate to have found ourselves in that position and as a result, we’ve decided to pull forward our Series C by a couple of quarters.”
- Lachy Groom: “It’s been amazing to see Ashby’s growth and product velocity in the last few years. Despite a tricky market, Ashby has 6X’d the business since the Series B and has garnered a lot of love from customers in a space that historically had really low NPS. In the current environment, more and more talent teams are looking to consolidate tools and ‘do more with less,’ and Ashby, which is packed with automation and AI-enabled features, is perfectly positioned to benefit from that trend.”
- Veronica Salcido, Head of Global Talent at Multiverse: “It’s the first ATS I’ve ever been impressed with. We were looking for an innovative partner that was looking to build the future of talent acquisition, not one stuck in the way things had been done 10, 20 years ago. And in switching to Ashby All-in-One, I got rid of a lot of vendors we no longer needed, so that made me look absolutely brilliant to my finance team.”
Product and Market Position:
Ashby’s platform differentiates itself with high-quality and accessible talent team data, which underpins seamless workflows, AI functionality for efficiency and personalization, and consolidates the recruiter workflow into a single system. Their focus on customer experience, proprietary data reports, and commitment to the talent community have driven their rapid growth.
Strategic Hires:
To support their growth and ambitious product roadmap, Ashby has made several key hires, including:
- Jim Miller, VP of People and Talent (15 years at Google)
- Shane Gallaher, VP of Finance (first FP&A hire at Fastly)
- Kelsey Peterson, VP of Customer Success (HubSpot)
- Allie Hurley, Head of Support (ClickUp)
- Jack Hanratty, Head of EMEA Sales (Asana and LinkedIn)
Conclusion
Ashby’s latest funding round signifies strong investor confidence in its growth trajectory and product innovation. The new funds will enable Ashby to continue its rapid pace of development and expand its enterprise reach, solidifying its position as a leader in the recruiting platform space.
