Namely Inc., a fast-growing New York-based software company, is opening an Austin office as part of a new $30 million investment.
Founded in 2012, Namely sells human resources software for companies between 40 and 3,000 employees. Its platform helps mid-size companies streamline their HR process, including employee management, performance reviews, payroll, benefits, workflow management and approvals.
Austin was chosen for a sales office because of its large base of innovative mid-sized companies, said Michael Townsend, Namely regional vice president of sales.
“This is a perfect market for us because a large percentage of our customers are tech companies, and we also have a lot of customers in creative industries like digital media and advertising, as well as non-profits,” Townsend said. “Austin really hits all three of those areas.”
Townsend plans to add up to 30 employees at Namely’s office in the Arboretum at Great Hills area. The company is currently hiring in areas including pre-sales, sales and customer support.
Namely, which has 250 employees nationwide, is also adding workers at its New York and San Francisco operations.
Although the Austin office will initially be focused on sales, the company plans to fill other positions here as well.
“We feel Austin is a very talent-rich environment, which is why we chose it for our third office after New York and San Francisco,” Townsend said. “We can fill a job in marketing here just as well here as we can in one of those locations.”
Namely received the new funding from investors including Sequoia, Matrix Partners and Greenspring Associates. It has raised a total of $107.8 million since inception.
In addition to expanding its workforce, the company will invest in product development, including expanding functions to allow companies to manage employee data across all their HR and finance systems.
The company has grown from 150 customers two years ago to more than 400 companies with more than 60,000 employees.
Growth is being driven by the Affordable Care act and other compliance issues that mid-size companies need easy-to-use tools to manage, said Matt Straz, founder and CEO of Namely.
“The amount of regulatory complexity facing HR has grown tremendously in the last year, and we expect that trend to continue in 2016,” Straz said. “At Namely, we make it much easier for HR leaders to manage compliance, so they can spend their time on strategy, engagement and developing people.”