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|Founded||2012 ( 2012 )|
|Founders||Sarah Nahm, Nate Smith, and Randal Truong|
|Headquarters||San Francisco, CA|
|Website||www .lever .co|
Lever, software startup that helps companies streamline hiring, laid off about 40% of its workforce on Wednesday, according to employees from company. Lever did not immediately respond to Business Insider's request for comment. At the beginning of the year, venture capitalists predicted that startup would boom thanks to its ability to let hiring managers focus on people rather than process. But as coronavirus outbreaks have forced companies to put a pause on their hiring process, company itself has also felt the need to cut costs. Visit Business Insider's homepage for more stories. Lever, software startup that helps companies streamline hiring, laid off a significant number of employees from its workforce, according to former employees who post on LinkedIn. In a LinkedIn post, one employee said nearly 40% of the workforce about 109 employees, based on PitchBook Data, were affected by cuts. Lever did not immediately respond to Business Insider's request for comment. Startup makes its name of its analytical tools, which hiring managers can use to get tips on how often they should contact candidates and who on the team is in the best position to get through to candidates. Lever's service can even give insight on the average time IT will take to fill position. Until the coronavirus outbreak hit the country, Lever's prospects were especially promising. Venture capitalists had touted Lever as a startup that would thrive in 2020 because IT simplifies recruiting, process that typically sucks up time and effort. It count Netflix and Cirque du Soleil among its customers as early as 2017. Lever streamlines that process to enable hiring managers to focus on people, not process, Aileen Lee of Cowboy Ventures told Business Insider's Julie Bort in January. And its CEO, Sarah Nahm, is something of a role model in Silicon Valley: Nahm, former Google employee who once worked as speechwriter for Marissa Mayer, is now leader of All Raise, venture - capitalist networking organization for women. But the economic downturn prompted by the coronavirus outbreak has created second - and third - order effects among all industries, causing many to scramble to pause hiring, cut costs, lay off workers, and even shutter their businesses, which in turn has strangled Lever's own source of customers. Lever Raise total to 72. 8 million in funding over six funding rounds and counts venture - capital firms like Khosla Ventures and Index Ventures among its backers. Its last round raised 40 million in 2017.
Smith, who graduated from Olin College of Engineering in 2007 and worked previously as product manager at Google, began Lever in 2012. He spent year building a real - time web framework, derbyjs. Com. He applied and was accepted into Y Combinator with the goal of applying this framework to the ubiquitous problem of scaling talent. Smith connected with Nahm and Truong through Stanford University and Google networks. All three had previously worked at technology companies. Nahm, who received a BS in Engineering and product design from Stanford University, joined Google as Marissa Mayer's speechwriter and led the growth of the Chrome browser from launch to over 150M active users. In September 2012, Lever raise 2. 8 million in the seed round led by SV Angel. Other investors include Marissa Mayer, Aaron Levie, Jeremy Stoppelman, and Y Combinator. In October 2014, Lever raised 10 million in its Series round led by Matrix Partners. Matrix Partner's Dana Stalder joins the board. Other investors include SV Angel, Redpoint, Index Ventures, Y Combinator, and Khosla general Partners Keith Rabois and Ben Ling. In July 2017, Lever raised an additional 40 million in its Series C led by Adams Street Partners, with additional investment from Matrix Partners, Scale Venture Partners and Top Tier Capital Partners. Stacey Bishop of Scale Venture Partners joined Lever's board. As of September 2015, minorities represent 49% of the Levers workforce. The company has a 43% female leadership team, 47% female people managers, and a 50: 50 gender ratio. In March 2017, Lever named Mike Bailen as its First Vice President.
Human - centered design is embed in Levers roots. Our founding team members all came from design backgrounds, and what united them from the very beginning was their conviction to utilize the design process to shape their insights before building a product. They want to build a tool that gets right to the core of pains around recruiting and hiring, not one that makes incremental improvements to the existing process. For Sarah, Nate, and Randal, creating Lever was just as much about channeling what all experts know - recruiters, hiring managers, leaders - to define problem around recruiting and hiring, as it was about finding a solution. And more founders connect with Levers future users during six months of intense user research, more deeply they come to empathize with users ' pains and feel connected to their hopes for the future. When the founding team was finally ready to design the first Lever mocks, they scrapped all preconceived notions of what ATS should be. By broadening the problem and reinventing it, they built the world's first collaborative ATS that solves real problems for real people. This isnt design on pedestal, its design for the real world, and we continue to encourage everyone at Lever to consider design as part of their toolkit. Were never thought about users and applying our roots in design toward building enterprise apps that will change the world.
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