Fountain Valuation, Funding & Investors

Fountain is valued at $950M as of June 2022.

Last Fountain valuation

$950M

Series C · Jun 2022

Last Fountain funding round

$100M

Series C · Jun 2022

Cumulative funding Fountain raised

$219M

across 6 funding rounds

Key investors in Fountain

  • Uncork Capital
  • DCM Ventures
  • Commerce Ventures
  • Origin Ventures
  • Y Combinator
  • SoftBank Group

Fountain Overview

About Fountain

Fountain is a recruiting software platform automating high-volume hiring for retail, hospitality, and logistics employers. San Francisco-based Fountain processes applications via SMS and chatbots, serving clients like McDonald's and 7-Eleven with screening and scheduling integrations.


Founded

2014

HQ

United StatesSan Francisco, CA

Status

Privately held

Customer focus

B2B

Revenue model

Subscription

Valuation

$950M (Jun 2022)

Fountain Valuation

Fountain is currently valued at $950M, based on its Series C in June 2022.

The $100M round was led by B Capital, with participation from SoftBank Group, Origin Ventures, Mirae Asset Venture Investment, Commerce Ventures, Uncork Capital and 2 other investors.

Fountain valuation by funding round

Fountain valuation by funding round
DateStageValuation
Jun 2022Series C$950M

Fountain Funding History

Fountain has raised a total of $219M across 6 funding rounds.

Fountain's first fundraising round was a $2M seed round in May 2015. The most recent completed round was a $100M Series C in June 2022.

Fountain funding rounds

Fountain funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Jun 2022Series CB Capital (lead); SoftBank Group; Origin Ventures; Mirae Asset Venture Investment; Commerce Ventures; Uncork Capital; DCM Ventures; SemperVirens Venture Capital$100M$950MFountain is the world's leading all-in-one applicant tracking system (ATS) designed for high-volume hiring, helping companies automate sourcing, screening, and hiring processes for hourly workers. It powers hiring for brands like sweetgreen, Stitch Fix, Flink, and Just Eat Takeaway, having processed over 68 million applications and facilitated hires for more than 9.2 million workers across 75 countries. The platform offers insights and analytics to streamline qualification verification and optimize hiring managers' time. On June 15, 2022, Fountain announced a $100 million extension to its Series C round, led by B Capital Group, with participation from SoftBank Vision Fund, Mirae Asset Venture Investment, DCM Ventures, Origin Ventures, Commerce Ventures, SemperVirens Venture Capital, Uncork Capital, and others. This brought the total Series C to $185 million and overall funding to around $225 million. The post-money valuation was reported at $950 million, approaching unicorn status near $1 billion. The company demonstrated explosive growth, with business tripling year-over-year from 2020 to 2021 and on track to nearly triple again in 2022, alongside a more than 300% increase in employee headcount since its Series B in 2019. At the time, Fountain had about 230 employees, planning to expand to 325 by year-end, and focused the new capital on international expansion into Europe and Asia, platform enhancements for analytics, and workforce growth. Fountain's traction was recognized when it was named to Forbes' Next Billion-Dollar Startups list in August 2022, selected based on factors including valuation, growth metrics, customer count, and headcount.
Nov 2021Series CSoftBank Group (lead); Origin Ventures; Flucas Ventures; Mirae Asset Venture Investment; Commerce Ventures; Uncork Capital; B Capital; DCM Ventures; SemperVirens Venture Capital; Peak State Ventures$85M--
Oct 2019Series BDCM Ventures (lead); Industry Ventures; 51job; Uncork Capital$23M-Fountain raised a Series B round of $23M on October 29, 2019, led by DCM Ventures, matching the specified investors including 51job, Industry Ventures, and Uncork Capital. This followed a seed round in June 2015 ($1.65M) and Series A rounds in April 2017 ($1.53M and $7.54M). Subsequent rounds included Series C funding of $85M in November 2021 and $100M in April 2022, with investors like B Capital Group and SoftBank.
Jul 2017Series AOrigin Ventures (lead); Salesforce Ventures; Industry Ventures; Y Combinator; Commerce Ventures; Uncork Capital; Invariantes Fund; Crosslink Capital$9M-Fountain, formerly OnboardIQ, raised $9.1 million in a Series A round on July 7, 2017, led by Origin Ventures with participation from Commerce Ventures, Crosslink Capital, Industry Ventures, Invariantes Fund, Salesforce Ventures, Uncork Capital, and Y Combinator. The company provides a hiring platform for hourly workers in high-volume recruiting sectors like retail, delivery, food and beverage, manufacturing, and hospitality. Clients including Uber, Safeway, Deliveroo, John Lewis, and Grubhub used Fountain for large-scale employee hiring and contractor vetting across 50 countries.
Aug 2015Pre-seedY Combinator (lead)$100K--
May 2015SeedUncork Capital (lead)$2M--

Who has invested in Fountain?

16 investors have backed Fountain across its funding rounds, including Uncork Capital, DCM Ventures, Commerce Ventures, Origin Ventures, Y Combinator and SoftBank Group.

Lead investors include B Capital, SoftBank Group, DCM Ventures, Origin Ventures, Y Combinator and 1 other investor.


Fountain Investors

Investors in Fountain by funding rounds participated
InvestorHQRoundsRoleFirst check
Uncork CapitalUnited StatesSan Francisco, CA5LeadMay 2015
Origin VenturesUnited StatesChicago, IL3LeadJul 2017
Commerce VenturesUnited StatesSan Francisco, CA3ParticipantJul 2017
DCM VenturesUnited StatesSan Francisco, CA3LeadOct 2019
Industry VenturesUnited StatesSan Francisco, CA2ParticipantJul 2017
Y CombinatorUnited StatesSan Francisco, CA2LeadAug 2015
SoftBank GroupJapanTokyo2LeadNov 2021
Mirae Asset Venture InvestmentSouth KoreaSeongnam2ParticipantNov 2021
B CapitalUnited StatesLos Angeles, CA2LeadNov 2021
SemperVirens Venture CapitalUnited StatesSan Francisco, CA2ParticipantNov 2021
Salesforce VenturesUnited StatesSan Francisco, CA1ParticipantJul 2017
51jobChinaChina1ParticipantOct 2019
Flucas VenturesUnited StatesWest Palm Beach, FL1ParticipantNov 2021

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Acquisitions by Fountain

Fountain has acquired 1 company to date.

Last acquisition by Fountain was on June 7th 2023. Fountain acquired Clevy for undisclosed valuation.


Latest Acquisitions by Fountain

Clevy
Description
Clevy is a Paris-headquartered software firm specializing in conversational AI technologies. It developed the CSML open-source language for building chatbots and voice assistants, used by enterprises for customer service automation.
HQ CountryFrance
HQ City
Paris
Deal Date7 Jun 2023
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Fountain Competitors

Fountain competitors include listed companies like Freee and Teamshares, and private ones like Gem, Phenom, Sense and Teamtailor.

Public and private companies comparable to Fountain
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
GemUnited StatesSan Francisco, CAPrivate--$1.2B-
PhenomUnited StatesPhiladelphia, PAPrivate--$1.3B-
SenseUnited StatesSan Francisco, CAPrivate--$500M-
TeamtailorSwedenStockholmPrivate$20M-$341M17.0x
FreeeJapanJapanPublicly listed$214M$6M$1.5B4.8x
TeamsharesUnited StatesUnited StatesPublicly listed$472M($23M)$545M1.4x

Fountain Public Comps

Fountain is still privately-owned, but its public comps include McMillan Shakespeare, Kforce, UT Group, Michael Page, Timee, FESCO Group, JAC Recruitment, Barrett Bus Services, Open Up Group and Synergie.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
McMillan Shakespeare$336M$179M4.5x3.5x8.4x11.4x
Kforce$1.3B$52M0.8x0.8x19.9x13.1x
UT Group$1.1B$82M0.7x0.7x9.4x9.2x
Michael Page$2.1B$105M0.5x0.5x10.0x9.1x
Timee$132M$23M6.3x2.8x36.0x13.5x
FESCO Group$6.7B$296M0.0x0.0x0.5x0.7x
JAC Recruitment$296M$77M3.2x2.9x12.3x10.6x
Barrett Bus Services$1.2B$80M0.6x0.6x9.5x11.0x

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Common questions about Fountain

When was Fountain founded?Fountain was founded in 2014.
Where is Fountain headquartered?Fountain is headquartered in San Francisco, CA, United States.
Is Fountain publicly listed?No, Fountain is a private, VC-backed company.
What is Fountain's valuation?Fountain was last valued at $950M in its Series C in June 2022.
How much funding has Fountain raised?Fountain has raised $219M across 6 funding rounds.
What was Fountain's last funding round?Fountain's last funding round was a $100M Series C in June 2022, led by B Capital.
Who are Fountain's investors?Fountain's investors include Uncork Capital, Origin Ventures, Commerce Ventures, DCM Ventures, Industry Ventures, Y Combinator, SoftBank Group, Mirae Asset Venture Investment, B Capital, SemperVirens Venture Capital and 6 others.
Which companies are comparable to Fountain?Companies comparable to Fountain include Gem, Phenom, Sense, Teamtailor, Freee and Teamshares.
How many companies has Fountain acquired?Fountain has acquired 1 company, including Clevy.

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