Namely

Namely is an all-inclusive mobile-first HR platform with a wide range of  tools covering payroll, benefits, compliance, and talent management to name a few. The company was a pioneer in bringing HR tools to the cloud and offering a Software-as-a-Service (SaaS) model for payroll. The company was founded by Matt Straz (former CEO) who successfully exited his previous venture Pictela (a content marketing platform) in a sale to AOL for USD 20 million in 2010. 

Namely focuses on targeting small and medium-sized enterprises (SMEs) and serves over 1,400 clients (April 2021) employing over 250,000 people across 134 countries, with USD 50 million in annual recurring revenue (ARR). Its subscription pricing starts at USD 12 per month per employee and it manages more than USD 16 billion in annual payroll. However, the company has been hit hard by the Covid-19 pandemic given its customer base is composed of SMEs.  Namely announced it has let go of around 40% of its employees.

Funding and financials

In September 2022 , Namely was acquired by a holding company created via the merger of  PrismHR and Vensure Employer Services for an undisclosed amount. The combined company was expected to go public in the future.

Namely’s last round of funding was in August 2018 when it raised USD 60 million in a Series E offering. At the time, the company prioritized product development and customer acquisition through partnerships.