Ashby, a San Francisco-based intelligent hiring platform, has secured a $50 million Series D round led by Alkeon Capital, doubling its valuation since the Series C. The funding follows significant growth—customer count rose from 1,300 to 2,700+ and revenue surged 135% year-over-year. Ashby aims to revolutionize talent acquisition by embedding advanced AI into its all-in-one platform, which includes ATS, CRM, scheduling, and analytics tools. The investment will power further development of AI capabilities like AI Notetaker and Talent Rediscovery, expand enterprise features, scale customer success and education programs, and deepen community initiatives. The company is also pushing forward in defining and operationalizing Quality of Hire metrics for modern TA teams.

Ashby, the fast-rising AI-powered talent acquisition platform, has announced a $50 million Series D round, just 13 months after its $30 million Series C. The round was led by Alkeon Capital, with continued participation from Lachy Groom, F-Prime Capital, Elad Gil, Gaingels, and others. The company confirmed to Crunchbase News that the new funding represents a 2x increase in valuation, though exact numbers remain undisclosed.

But what’s more impressive than the capital is what Ashby has already achieved — and where it’s headed.

In just over a year, the company has more than doubled its customer count from 1,300 to over 2,700 organizations, while growing annual recurring revenue (ARR) by a staggering 135%. Today, Ashby serves elite customers including OpenAI, Shopify, Notion, Ramp, Snowflake, and Harvey.ai — a customer roster that reads like a who’s who of modern tech.

“Hiring is undergoing a foundational shift,” said Benji Encz, Ashby’s co-founder and CEO. “We’re not just another ATS — we’re the intelligent hiring operating system for companies that care about talent quality, operational excellence, and speed.”

Built for Scale — and Speed

Ashby’s platform combines a modern applicant tracking system (ATS), candidate relationship management (CRM), interview scheduling, and LLM-powered analytics — all built in-house from day one for seamless integration and future extensibility.

Ashby isn’t tacking on AI as an afterthought. It’s embedded. From resume parsing and triage to sourcing automation and candidate messaging, Ashby’s AI features have seen usage surge by 50% in the past year. Features like the upcoming AI Notetaker and Talent Rediscovery aim to eliminate redundant recruiter workflows and uncover talent already sitting in the ATS.

And unlike other point solutions, Ashby doesn’t make recruiters juggle tools.

“Our approach is simple: fewer vendors, more velocity, and dramatically better candidate experiences,” Encz added.

Dominating the Mid-Market, Moving Up-Market

Ashby is already becoming the go-to platform for high-growth startups and mid-market companies — a trend the company expects to accelerate. But the new capital signals a deeper push into the enterprise segment, where legacy systems like Workday and Taleo are struggling to adapt.

Ashby’s Enterprise segment grew 123% year-over-year, and integrations with Workday, UKG, and ADP are already in motion. With a customer success strategy that includes 24/7 support and a growing network of Ashby Experts, the company is clearly positioning itself to replace incumbent systems at scale.

A Capital Raise, Not a Lifeline

Unlike many startups fundraising out of necessity, Ashby’s burn multiple has remained below 1x — a rare feat in SaaS today. In fact, the company says it still holds the majority of its Series C funds.

“This raise was preemptive,” said Encz. “We had the leverage, the traction, and the growth. Adding $50 million just gives us the firepower to outbuild, outsupport, and outscale the competition.”

Next Stop: Talent Infrastructure Dominance

Ashby plans to invest heavily in product, particularly agentic AI workflows, advanced analytics, and compliance tooling. It’s also expanding its community initiatives — including Ashby-hosted conferences, certifications, and TA benchmarking reports.

“The world is entering a new infrastructure cycle,” said Mark McLaughlin, General Partner at Alkeon. “Just as CRM and ERP are being rebuilt with AI at the core, so is hiring. Ashby is the clear contender to define what a modern Talent OS should look like.”

With 220+ employees across 21+ countries, and a culture that’s retained its founding executive team and still hires “frustratingly slowly,” Ashby appears ready to not just ride the AI recruiting wave—but command it.

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