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

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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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