Namely – About | History | Revenue | Founders | Competitors | 

Even though individuals are complex, your HR solution should not be. Provides you with all of the tools you need to make your life easier and your employees happier. Thanks to modern, intuitive technology and a world-class team of HR professionals, Namely equips people teams with an all-in-one HR solution optimized for mid-sized organizations. 

Namely, the leading HR platform for mid-sized organizations, announced today the establishment of a new downtown office and the launch of Managed Services, a new product option. Additionally, the business revealed that Austin employees beat the national average in terms of employee loyalty, based on trends obtained from its massive US customer data.

Namely – Company Highlights:

Name	Namely
Headquarters	New York City, United States
Address	400 W 15TH St Austin, TX, 78701-1600 United States
Industry	Human Resources Management System
Founders	Matt Straz
Founded	2012
Current CEO	Larry Dunivan
Total Funding	$218 M
Similar Companies	ADP, Workday, Zenefits, etc.
Website	https://www.namely.com/

Namely About

The first HR software that workers truly enjoy using is Namely. Companies can manage all of their HR, payroll, time management, and benefits in one location because of Namely’s sophisticated, easy-to-use technology

. Every Namely customer receives the software and service they need to offer exceptional HR and strong, engaged business culture, along with personalized account support.

Over 800 clients with over 125,000 workers utilize Namely internationally. The startup, which is based in New York City, has secured $157.8 million from top investors such as Altimeter Capital, Scale Capital, Sequoia Capital, Matrix Partners, and True Ventures.

Namely is in the Management, Scientific, and Technical Consulting Services industry and is based in Austin, Texas.

Namely was named to Crain’s list of Best Places to Work in New York City in 2015. Namely was included in Forbes’ first Cloud 100 list in 2016. Namely was named to the Inc. 500, JMP Hot 100, and Crain’s Fast 50 lists in 2018.

Website : https://www.namely.com/

Namely’s key differentiators and benefits-

• Save time – Workflows let you save time by automating regular tasks like approving promotions and pay rises. Role-based approvals provided to titles rather than individual workers eliminate the need to designate new users every time an employee quits or changes employment.

• Organize Workflows: Create various processes for different departments, teams, and other organizations inside the corporation.

• Maintain Constant Communication: With a single news feed that allows you to contribute photographs, GIFs, and videos, you can stay up to speed on the newest corporate news.

• Configure Employee Profiles: When creating employee profiles, you may choose which fields to include.

• Create org charts – Create org charts that demonstrate the relationships between each employee. Supports many leaders and teams of any size. When recruits are added, the system changes automatically based on the relationships maintained in the employee database.

• Track Events – Keep track of significant dates such as holidays, legal deadlines, and other events with the calendar tool, which currently includes essential dates. To sync with an online calendar, save it as an ICS file. Monthly HR resources and advice are also included.

• Control Data Access – Assign user roles and configure permissions to ensure that everyone has access to the information they need without jeopardizing sensitive data.

• Plug-In Apps – Integrate with over 50 partner applications, including eSignature and foreign payroll, as well as office management and HR outsourcing. TSheets, Litmos, OneLogin, G Suite, Adobe, Jobvite, and Ameriflex are among the companies represented.

Namely Founder:

– Matt Straz founded the firm in 2012.

Matt Straz: Namely was started in 2012 by Matt Straz. He writes on human resources, entrepreneurship, and technology for many publications and contributes weekly to Entrepreneur.

The New York-based firm was founded in 2012. Namely is an all-in-one platform that centralizes all HR data and provides customized support to help businesses improve and grow. Specifically, provide businesses with the technologies and assistance they require to change their corporate cultures.

It has changed to meet the demands of the business. They manage HR, payroll, time, and benefits administration and compliance so HR teams can focus on growing their people and creating a positive employee experience.

The company’s Board of Directors has dismissed its CEO, Matt Straz, for violating the company’s ideals.

Namely History:

Namely was created in Greenpoint, Brooklyn, on January 17, 2012.

Namely’s early service offerings included an HR information system, social newsfeed, payroll, and performance management capabilities. In 2016, Namely and Cigna introduced a new benefits market with 12 pre-defined medical, dental, vision, and life insurance choices.

That same year, Namely relocated its corporate headquarters to lower Manhattan. In 2017, Namely introduced two new services: Time Management and Managed Services.

Since then, Namely has opened offices in San Francisco, Los Angeles, Atlanta, and Austin. It now has over 500 employees and serves over 1000 clients.

In May 2018, the company’s founder and CEO, Matt Straz, was fired for behavior that was “inconsistent with what is expected of Namely leadership.” Elisa Steele, the company’s permanent CEO, was appointed in August.

Larry Dunivan took the helm after Elisa Steele in July 2019.

Namely Revenue:

The company’s yearly revenue is presently expected to be 59.6 million dollars.

The expected revenue per employee is $165,100.

Namely keeps more than 80% of its gross income each year, while the firm has a revenue churn of roughly 20% every year (at the time of this interview).

Namely Funding & Investor:

True Ventures was the primary investor in Namely’s Series A fundraising round, which raised $3.4 million in June 2013.

Namely raised a $12 million Series B round in November 2014. Sequoia Capital led a $45 million Series C round in June 2015.

Namely secured $50 million in Series D fundraising in January 2017, led by Altimeter and Scale Venture Partners. The firm raised around $157.8 million in total equity capital after nine rounds from 24 investors.

Namely announced a $60 million expansion round sponsored by GGV Capital in August 2018.

Date	Amount	Round	Lead Investors
2012-01-17	$1.0M	Angel Round
2012-10-18	$750K	Seed Round
2013-06-11	$3.4M	A	True Ventures
2014-06-19	$4.7M	Undisclosed	Multiple
2014-11-05	$12.0M	B	Matrix Partners
2015-03-06	$11.0M	Undisclosed	Matrix Partners
2015-06-19	$45.0M	C	Multiple
2016-02-24	$30.0M	Undisclosed	Matrix Partners
2017-01-06	$50.0M	D	Altimeter Capital
2018-08-03	$60.0M	Undisclosed	GGV Capital

Namely Competitors ​:

Users who need additional software features or want to compare other options can look at the best Namely alternatives. Many individuals are seeking simple, easy-to-use software solutions for time, attendance, and PTO, as well as expense management and compliance.

Core HR software is a widely used technology. The convenience of use and dependability are two more important factors to consider while assessing Namely alternatives.

Paylocity, ADP Workforce Now, UKG Pro, and Workday HCM are among the finest overall alternatives and rivals to Namely, according to reviews – 

• Paylocity
• ADP Workforce Now
• UKG Pro
• Workday HCM
• Zenefits
• Paychex Flex
• Rippling
• BambooHR

Namely – Future Plans:

According to Namely’s recent report, HR professionals have a deeper relationship with company executives than with employees. Only 59 percent of HR executives believe their HR departments would receive an 8 or higher for meeting their company’s requirements on a scale of 1 to 10.

HR teams should focus more on creating connections with workers to narrow the gap. Employee trust is equally as important as corporate executive alignment. Employees who have faith in their HR department and company executives are more engaged and productive, and hence less likely to leave.

In the future, HR professionals should plan for the post-pandemic transition, bringing their ingenuity and agility to bear. They should concentrate on strategic goals that use data and analytics to improve productivity and operational outcomes. HR should seek to address any gaps in fulfilling top leadership and employee expectations by strengthening change management skills.

HR should also prepare for a workforce in which remote work continues to play an important role. To guarantee the hybrid workforce’s success, HR should focus on identifying and proactively addressing critical skill shortages within the firm.

They may best prepare for the future of the HR function in a post-COVID era by keeping these essential points in mind.

 Namely – FAQs:

What is the purpose of Namely software?

Namely is a wonderful platform for HR, payroll, and benefits administration inside the organizational framework, as it aids in the creation of better workplaces with changing functionality to adapt in small to mid-size organizations and comply with various workplace standards.

What exactly is Namely payroll?

Namely, Payroll combines HR, payroll, and benefits services for SMBs in one convenient package. Employee management is a significant element of the software. It has ACA (Affordable Care Act) reporting built-in. It includes real-time tracking, review questions that may be customized, and rating scales.

What does the Namely do?

Namely is dedicated to providing HR technology and services to assist mid-sized enterprises in overcoming their unique challenges. We’re probably a good fit if your firm employs 25 to 1000 employees, is situated in the United States, and wants to improve its HR operations.

Who are Namely’s main rivals?

Alternatives to Namely include Zenefits, Paycor, and BambooHR. 

Who is Namely for?

The Computer Software industry and Mid-sized Companies (51-1,000 employees) are the most prevalent Namely users.

Matt Straz was dismissed for what reason?

Straz, who had developed the firm from the ground up, was fired after a probe over activities “inconsistent with that which is expected of Namely leadership,” according to the company’s announcement at the time.

What is the location of Namely’s headquarters?

It was awarded one of the greatest places to work in the city by Crain’s New York Business. Namely opens its new headquarters in New York’s Financial District.

Final Note

Growing businesses and start-ups can benefit greatly from Namely’s role-based access and comprehensive solutions. The software’s excellent customization and user-friendly interface are other significant advantages. Customer service, on the other hand, appears to be slow and unresponsive, according to user evaluations. 

Furthermore, using the time and attendance functions can be time-consuming, and payroll and HRIS connectivity is lacking. However, regular updates give constant progress, so it’s worth considering.