San Francisco-based talent acquisition platform Lever announced Monday that it raised $50 million in a Series D round led by Apax Digital Fund. The fresh raise will be used to support the company’s growth in new markets as well as accelerate product development. It’s also Lever’s largest to date.
The latest investment couldn’t have come at a better time. Employers are facing a tough market for hiring and retaining talent as employees around the United States continue to leave their jobs at a record pace. As a result, recruitment platforms like Lever have seen a huge uptick in interest from companies in search of new ways to acquire fresh talent.
Founded in 2012, Lever offers talent acquisition leaders a range of complete applicant tracking systems (ATS) and candidate relationship management (CRM) capabilities in one product, LeverTRM. The company’s core solution tracks DEI data at the top of the recruitment funnel as well as at the offer stage so that talent acquisition teams have a full view of how their inclusive hiring practices are progressing over time.
Lever also offers an advanced analytics add-on that works to uncover specific candidate records and track pay across race and gender to ensure fairness and equity.
“Enabling organizations, big and small, to find and hire great talent at scale is very exciting,” Todd Martin, executive vice president of customer experience at Lever, told Built In. “We have so much more to do to realize our vision — offer talent leaders the reach of a marketing leader, the forecast of a sales leader, and the insight of a finance leader in a unified talent acquisition suite.”
Lever serves more than 4,000 customers around the world including corporate heavyweights like Netflix and Spotify.
Following the latest raise, the company plans to create additional data and analytics that will help recruiters identify unconscious bias and understand pay gaps as well as support an organization’s overall ability to tap into a diverse hiring pool. Lever itself is also hiring, with nearly a dozen open positions available across its engineering, finance and marketing teams, to name a few.
“We’re bringing empathy back into hiring, leveraging technology to build more human connections, rather than remove them,” Martin said.
