# Fountain

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fountain-2

- Industry: Software
- Headquarters: San Francisco, US
- Website: www.fountain.com
- Total disclosed funding: $171M
- Latest round: Series C (Apr 3, 2022)
- Investors on record: 22

## About

OnboardIQ, Inc., based in the US, operates as a frontline workforce management platform that optimizes hiring, enhances employee engagement, and ensures compliance through its innovative technology solutions.OnboardIQ, Inc. is a workforce management company established in 2014, located in San Francisco, US. The company provides technology solutions aimed at enhancing the hiring process. In April 2022, OnboardIQ raised USD 57.05 mn in Series C funding, led by B Capital Group with participation from multiple investors. The total amount raised is also USD 57.05 mn, reflecting the company’s valuation of USD 758.303 mn. The co-founders are Jeremy Cai and Mdmahmudul Sajal, while Sean Behr serves as the CEO.Fountain is a frontline workforce management platform specializing in solutions designed to streamline hiring processes, enhance employee engagement, and ensure compliance. Its core offerings include Fountain Onboard, which facilitates efficient onboarding and I-9 verification, and Fountain Reach, an AI-driven recruitment tool that identifies and engages talent beyond traditional job boards. These products are built to support high-volume hiring in industries such as retail, logistics, hospitality, healthcare, and food and beverage, addressing the unique challenges of recruiting and retaining frontline workers. Fountain's customer base consists of organizations looking to optimize their staffing processes, with notable case studies highlighting significant reductions in time-to-hire, such as an 80% decrease reported by Bojangles. The platform is utilized across various geographical markets, including North America and parts of Europe, catering to businesses grappling with the complexities of frontline management.Fountain generates revenue through a subscription-based model that allows businesses to access its suite of workforce management tools. Clients engage with the platform on a B2B basis, subscribing to services tailored to their specific hiring needs. Transaction structures often involve tiered pricing plans, where customers pay based on the features and functionalities they choose to use, including options for automated onboarding and AI-driven recruiting solutions. By leveraging advanced AI technology, Fountain's flagship products, such as Fountain Onboard and Fountain Reach, enable organizations to reduce hiring times and streamline administrative tasks, ultimately driving greater operational efficiency. The revenue model is designed to offer scalable solutions for businesses of varying sizes, enhancing their hiring capabilities while maintaining compliance and fostering a positive employee experience.In April 2022, OnboardIQ, Inc. raised USD 57.05 mn in Series C funding, which will be utilized to accelerate growth and expand its platforms. The company plans to introduce new products aimed at enhancing its existing offerings and intends to expand into additional European and Asian markets. Specific targeted markets for expansion have not been disclosed, but the funding will support these initiatives as OnboardIQ seeks to broaden its international footprint.

## Funding rounds

- Series C, Apr 3, 2022, $57M — DCM, Origin Ventures, Uncork Capital, Commerce Ventures, Mirae Asset Venture Investment, B Capital, SB Investment Advisers, SemperVirens
- Series C, Sep 6, 2021, $80M — DCM, Origin Ventures, Uncork Capital, Commerce Ventures, Mirae Asset Venture Investment, B Capital, SB Investment Advisers, SemperVirens
- Series B, Oct 29, 2019, $23M — DCM, Industry Ventures, Origin Ventures, Uncork Capital, 51job, Inc.
- Series A, Apr 26, 2017, $9.1M — Industry Ventures, Crosslink Capital, Origin Ventures, Uncork Capital, Y Combinator, Commerce Ventures, Salesforce Ventures, Invariantes Fund
- Seed, May 18, 2015, $1.6M — Crosslink Capital, Uncork Capital, Slow, Commerce Ventures, FundersClub, ACME Capital, Rough Draft Ventures, Winklevoss Capital, 1517 Fund, Kindred Ventures, Thiel Foundation

## Investors

- Crosslink Capital (https://capitalatlas.ai/funds/crosslink-capital) — Seed, Series A
- Uncork Capital (https://capitalatlas.ai/funds/uncork-capital) — Seed, Series A, Series B, Series C
- Slow (https://capitalatlas.ai/funds/slow) — Seed
- Commerce Ventures (https://capitalatlas.ai/funds/commerce-ventures) — Seed, Series A, Series C
- FundersClub (https://capitalatlas.ai/funds/fundersclub) — Seed
- ACME Capital (https://capitalatlas.ai/funds/acme-capital) — Seed
- Rough Draft Ventures (https://capitalatlas.ai/funds/rough-draft-ventures) — Seed
- Winklevoss Capital (https://capitalatlas.ai/funds/winklevoss-capital) — Seed
- 1517 Fund (https://capitalatlas.ai/funds/1517-fund) — Seed
- Kindred Ventures (https://capitalatlas.ai/funds/kindred-ventures) — Seed
- Thiel Foundation — Seed
- Industry Ventures (https://capitalatlas.ai/funds/industry-ventures) — Series A, Series B
- Origin Ventures (https://capitalatlas.ai/funds/origin-ventures) — Series A, Series B, Series C
- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A
- Salesforce Ventures (https://capitalatlas.ai/funds/salesforce-ventures) — Series A
- Invariantes Fund (https://capitalatlas.ai/funds/invariantes-fund) — Series A
- DCM (https://capitalatlas.ai/funds/dcm) — Series B, Series C
- 51job, Inc. — Series B
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Series C
- B Capital (https://capitalatlas.ai/funds/b-capital) — Series C
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C
- SemperVirens (https://capitalatlas.ai/funds/sempervirens) — Series C