Ashby Valuation, Funding & Investors
Ashby is valued at $35M as of August 2020.
Last Ashby valuation
$35M
Series A · Aug 2020
Last Ashby funding round
$50M
Series D · Jul 2025
Cumulative funding Ashby raised
$120M
across 5 funding rounds
Key investors in Ashby
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Lachy GroomF-Prime
Y Combinator
Gaingels
Elad Gil
Caffeinated Capital
About Ashby
Ashby is a provider of all-in-one recruiting software tailored for high-growth tech companies. The platform integrates applicant tracking, CRM, AI sourcing, and interview scheduling to streamline hiring workflows. San Francisco-based, Ashby serves over 1,000 customers including Rippling, Notion, and Ramp, processing millions of job applications annually. Founded in 2020, it raised $40 million in Series B funding in 2022 from investors like Sequoia and Y Combinator. The company employs around 100 people and focuses on enterprise-grade tools that reduce time-to-hire by automating repetitive tasks for recruiters and hiring managers.
Founded
2018
HQ
San Francisco, CAWebsite
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Valuation
$35M (Aug 2020)
Ashby Valuation
Ashby is currently valued at $35M, based on its Series A in August 2020.
The $10M round was led by Elad Gil, with participation from Y Combinator, F-Prime, Lachy Groom and Caffeinated Capital.
Ashby valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Aug 2020 | Series A | $35M |
Ashby Funding History
Ashby has raised a total of $120M across 5 funding rounds.
Ashby's first fundraising round was a $4M seed round in March 2019. The most recent completed round was a $50M Series D in July 2025.
Ashby funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Jul 2025 | Series D | Alkeon Capital (lead); Lachy Groom (lead); F-Prime; Gaingels; Elad Gil | $50M | - | Ashby, a San Francisco-based all-in-one recruiting platform offering AI-powered applicant tracking, CRM, scheduling, and analytics, raised $50 million in a Series D funding round on July 22, 2025. The round was co-led by Mark McLaughlin at Alkeon Capital and Lachy Groom, with participation from F-Prime, Elad Gil, Gaingels, and other existing investors. Customers include OpenAI, Shopify, Notion, Snowflake, UiPath, Confluent, Zip, AuditBoard, Deepgram, and Verkada. The company more than doubled its customer base to over 2,700 and reported 135% ARR growth in the past year, with enterprise segment growing 123% year-over-year, primarily through word-of-mouth. Ashby maintained a healthy valuation described as 2x its Series C (raised ~$30M a year prior), staying disciplined on dilution despite the round being oversubscribed. The funding, following a low burn multiple below one and substantial Series C cash remaining, supports expansion of AI features, enterprise capabilities, customer success, and talent community initiatives like Ashby One conference and local ACE chapters in Seattle and Denver. CEO Benji Encz and co-founder Abhik Pramanik lead the seven-year-old company, positioning it as an intelligent hiring operating system for the AI infrastructure era. Investors view Ashby as evolving from a comprehensive ATS to a leading talent OS loved by sophisticated tech talent teams, enabling precision, speed, and human-focused hiring. The preemptive interest reflects rapid growth and financial discipline, with plans to invest over multiple years before profitability while accelerating product velocity in HR tech. |
| Jun 2024 | Series C | Lachy Groom (lead); Y Combinator; F-Prime | $30M | - | Ashby is a San Francisco-based recruiting platform that streamlines hiring processes from startups to enterprises, offering automation, AI-driven features, superior talent data, and consolidated workflows for over 1,300 customers including fast-growing startups and enterprises with 18,000+ employees. Founded in late 2018 by Benjamin Encz and Abhik Pramanik, the company emerged from stealth with its Series B in September 2022 and has raised approximately $70 million total prior to the Series C. The $30 million Series C, announced June 3, 2024, was led by Lachy Groom (who also led the seed), with participation from Elad Gil, F-Prime, Y Combinator, and existing clients. This round was pulled forward due to strong demand, following 6X revenue growth since Series B, amid market challenges where talent teams seek tool consolidation. The Series C funds product development and enterprise expansion, capitalizing on trends like AI and automation in a sector with historically low NPS. Ashby differentiates with high-quality data for workflows, proprietary reports, and strong customer experience. Subsequently, Ashby raised a $50 million Series D in July 2025, led by Alkeon Capital with co-lead Lachy Groom and participation from F-Prime, Elad Gil, Gaingels, and others. This doubled the Series C valuation, supported 135% YoY ARR growth, customer base expansion to 2,700+, and elite clients like OpenAI and Shopify. Burn multiple remained below 1x, with most Series C funds intact, positioning Ashby for further AI enhancements and scaling. |
| Mar 2022 | Series B | F-Prime (lead); basecase capital; Terrence Rohan; Gaingels; Lachy Groom; SemperVirens Venture Capital; DVC | $27M | - | - |
| Aug 2020 | Series A | Elad Gil (lead); Y Combinator; F-Prime; Lachy Groom; Caffeinated Capital | $10M | $35M | - |
| Mar 2019 | Seed | Lachy Groom (lead); Y Combinator; Leblon Capital; Konstantin von Unger | $4M | - | - |
Who has invested in Ashby?
13 investors have backed Ashby across its funding rounds, including Lachy Groom, F-Prime, Y Combinator, Gaingels, Elad Gil and Caffeinated Capital.
Lead investors include Alkeon Capital, Lachy Groom, F-Prime and Elad Gil.
Ashby Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Lachy Groom | San Francisco, CA | 5 | Lead | Mar 2019 |
| United States | 4 | Lead | Aug 2020 | |
| San Francisco, CA | 3 | Participant | Mar 2019 | |
| New York City, NY | 2 | Participant | Mar 2022 | |
| United States | 2 | Lead | Aug 2020 | |
| San Francisco, CA | 1 | Participant | Mar 2022 | |
| San Francisco, CA | 1 | Participant | Mar 2022 | |
 Munich | 1 | Participant | Mar 2019 | |
| New York City, NY | 1 | Lead | Jul 2025 | |
| San Francisco, CA | 1 | Participant | Mar 2022 | |
| Konstantin von Unger |  London | 1 | Participant | Mar 2019 |
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Start Free TrialAshby Competitors
Ashby competitors include listed companies like PaySauce and Baiya International Group, and private ones like JANZZ.technology, Magneto Global, Jibble Group and Legion Technologies.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
 Zurich | Private | - | - | $36M | - | |
 Medellín | Private | - | - | $37M | - | |
| San Francisco, CA | Private | - | - | $33M | - | |
| San Jose, CA | Private | - | - | $39M | - | |
 New Zealand | Publicly listed | $4M | ($582K) | $20M | 1.3x | |
 China | Publicly listed | $16M | ($9M) | $14M | - |
Ashby Public Comps
Ashby is still privately-owned, but its public comps include Kinatico, PaySauce, Safeture, Baiya International Group, Coel, Xref, Dillistone Group, Reliability, Emplocity and Human Technologies.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $25M | $4M | 1.5x | 1.4x | 9.3x | 8.4x | |||
| $4M | ($582K) | 2.0x | 1.3x | (12.2x) | 65.8x | |||
| $6M | $766K | 1.9x | 1.7x | 14.6x | 9.5x | |||
| $16M | ($9M) | 0.9x | - | (1.5x) | - | |||
| $15M | $2M | 0.3x | - | 3.0x | - | |||
| $15M | $2M | 0.7x | - | 6.4x | - | |||
| $6M | $1M | 1.5x | 1.6x | 6.9x | - | |||
| $21M | ($1M) | 0.1x | - | (2.2x) | - | |||
This data is available for Pro users. Sign up to see all Ashby competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Ashby
| When was Ashby founded? | Ashby was founded in 2018. |
| Where is Ashby headquartered? | Ashby is headquartered in San Francisco, CA, United States. |
| Is Ashby publicly listed? | No, Ashby is a private, VC-backed company. |
| What is Ashby's valuation? | Ashby was last valued at $35M in its Series A in August 2020. |
| How much funding has Ashby raised? | Ashby has raised $120M across 5 funding rounds. |
| What was Ashby's last funding round? | Ashby's last funding round was a $50M Series D in July 2025, led by Alkeon Capital and Lachy Groom. |
| Who are Ashby's investors? | Ashby's investors include Lachy Groom, F-Prime, Y Combinator, Gaingels, Elad Gil, basecase capital, Terrence Rohan, Leblon Capital, Alkeon Capital, SemperVirens Venture Capital and 3 others. |
| Which companies are comparable to Ashby? | Companies comparable to Ashby include JANZZ.technology, Magneto Global, Jibble Group, Legion Technologies, PaySauce and Baiya International Group. |
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