Namely raises $4.7 million in funding

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Namely is a human resources management company that has raised $4.7 million in funding. True Ventures, Lerer Ventures, Bullpen Capital and VaynerRSE participated in this round. These VC companies also participated to Namely’s Series A in June 2013. Namely will be launching payrolls, benefits administration, and time management services throughout the U.S.

Namely now has over 100 clients and more than 15,000 employees that use its platform. Some of the companies that use Namely include Warby Parker, Hailo, Birchbox, and Mashable.

“Namely has created a unique platform that integrates all aspects of HR, decreasing the amount of time spent on data entry and increasing productivity company-wide. Namely can also be in market much faster and at a lower cost than most existing HCM systems,” stated Matt Straz, founder and CEO of Namely.

By adding payroll, benefits, and time management to the Namely platform, it will let users manage the human capital management process from a single and unified database.

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