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With OpenAI and Shopify As Customers, Ashby Raises $50M Series D For AI-Powered Talent Platform

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In today’s competitive hiring environment, the ability for companies to move quickly on talent is more paramount than ever. That includes identifying high-quality candidates and moving them through the pipeline faster than competitors are able to.

Enter Ashby. The 7-year-old San Francisco-based startup has built an “all-in-one” AI-powered platform designed to help businesses more efficiently manage the recruitment process. As a testament to its growing popularity, Ashby says it more than doubled its customer base over the past year — from about 1,300 to more than 2,700 — and saw its ARR jump by 135%.

Those customers are a high-profile bunch, including the likes of startups Ramp, OpenAI, Harvey.ai, Notion and Cursor, as well as enterprises such as Shopify and Snowflake. The company aims to replace three or four products at any given company with its offering.

“We’re becoming a default for startups and for the midmarket,” said CEO and co-founder Benji Encz in an interview. “The vast majority of our growth has been word of mouth.” Ashby’s enterprise segment is growing as well — 123% year over year.

Benji Encz and Abhik Pramanik, co-founders of Ashby

Investors appear to like what they see. Today, Ashby is announcing that it has raised $50 million in a Series D round of funding, just over one year after raising its $30 million Series C, it tells Crunchbase News exclusively. The company declined to reveal its valuation, saying only it was a 2x increase compared to its most recent raise.

Alkeon Capital and returning backer Lachy Groom co-led the round, which also included participation from F-Prime, Elad Gil, Gaingels and others.

Encz claims the company still has the “vast majority” of its Series C left in the bank.

“Our burn multiple has been below one for all of this year,” he told Crunchbase News. “We got preemptive interest on strong terms and since there are a number of years we’re going to invest before turning profitable, we felt it was a good time to add to the cash balance.”

“The extra $50 million puts us in a much more comfortable position,” he added.

Integration is key

Ashby co-founders Encz and Abhik Pramanik met while working at construction software startup PlanGrid. As director of engineering, Encz spent much of his time recruiting. Pramanik was a senior product manager.

They spent the first two years after starting Ashby building out the product before launching in 2020. Their strategy was to build everything in-house so all the products could be integrated, and to do so in a way in which it would have the ability “to build future products.”

“The underlying foundation that we invested in significantly in the first two years of building Ashby is what enables us to add on these additional products into one platform with a clean user experience across all needs of a talent acquisition team,” Encz said.

At the core of Ashby’s offering is an Applicant Tracking System, which manages all of the interactions of applications for any given company, down to extending offers. But also layered into its software is a CRM to help companies discover talent; a scheduling tool that allows applicants to self-schedule; and pipeline analytics and sourcing via LLM-powered search.

The tasks Ashby’s software can do for a company include posting job openings on platforms outside of a company’s website, ask qualified and open-ended questions in job postings “to get signals from a candidate,” and personalizing outreach in sourcing.

A big part of what Ashby touts is that it not only helps companies manage applicants but also “goes after candidates who are not applying,” Encz said.

Early AI adoption

The company claims it was among the first to market with AI functionality at the time of its Series C. Doing so means teams don’t need to add on another AI tool, but rather take advantage of the fact that AI is embedded into Ashby’s product, according to Encz.

“We have a number of existing and upcoming AI features, with usage of AI in Ashby growing 50% over the past year alone,” he told Crunchbase News.

However, Encz is quick to point out that Ashby is not totally reliant on AI.

“The way we’ve designed it is that we always still keep the human in the loop,” he said. “… but it’s still always a human reviewing date in the end.”

‘Intelligent hiring operating system’

Ashby is using its new capital primarily to invest in product development (specifically focusing on advancing its AI capabilities), customer success and its talent community programs.

Presently, the remote-first company has 220 employees in over 21 countries. It also has customers around the globe but is currently focused on North America and EMEA.

Mark McLaughlin, general partner at Alkeon Capital, told Crunchbase News via email that he views Ashby as an “intelligent hiring operating system” that helps companies “operate with precision, speed and intelligence.”

“The world is entering a new infrastructure cycle. Every system that companies rely on — CRM, ERP, finance, security, and yes, hiring — is being rebuilt with AI at the core,” he added. “We believe Ashby is the clear candidate to own not just the traditional ATS swim lane but also, and more importantly, the expanded footprint of what a modern talent OS can be.”

Related Crunchbase query:

Illustration: Dom Guzman


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Southwest Airlines (LUV) 2Q 2025 earnings

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A Southwest Airlines Boeing 737 taxis at Ronald Reagan Washington National Airport on May 16, 2025 in Arlington, Virginia.

Kevin Carter | Getty Images

Southwest Airlines on Wednesday posted second-quarter earnings and revenue that fell short of Wall Street’s estimates but said travel demand has stabilized, echoing other airlines in recent weeks.

The airline also announced a new $2 billion share buyback.

Here’s how Southwest performed in the second quarter compared with Wall Street expectations, according to consensus estimates from LSEG:

  • Earnings per share: 43 cents adjusted vs. 51 cents expected
  • Revenue: $7.24 billion vs. $7.3 billion expected

The carrier pulled its 2025 guidance in April, citing economic uncertainty in the U.S. Like other airlines, Southwest said it would cut flights during off-peak periods as carriers grappled with weaker domestic travel demand than expected at the start of the year. CEO Bob Jordan told CNBC last month that there has been more discounting this summer, which is generally the busiest travel period of the year.

Southwest expects its third-quarter unit revenue, a gauge of airlines’ pricing power, to range between a 2% drop to a 2% increase over the same July-through-September period of 2024.

Read more CNBC airline news

The airline has been overhauling its business model, getting rid of blanket policies like two free checked bags for all customers and moving from open seating to assigned seats and new boarding orders, which the carrier announced on Monday.

Southwest said sales of basic economy suffered on its website after it launched the restrictive new fares in May. It said they have since returned to “expected levels” but that it hurt its unit revenue in the second quarter by a half a point and would hurt unit revenue by about a point in the third quarter.

Southwest posted net income of $213 million, or 39 cents a share in the second quarter, down 42% over last year, on sales of $7.24 billion, 1.5% lower than a year earlier. Adjusting for one-time items, Southwest’s second-quarter earnings were $230 million, or 43 cents a share, down 38% from last year.

Passenger revenue per seat mile came in at $14.10, below the $14.19 that Wall Street had expected, according to Street Account.



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June Hits 3-Year High In Unicorn Births Across AI, Robotics And More

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Twenty companies joined The Crunchbase Unicorn Board last month — the highest number of companies to join in a single month since July 2022, when the venture funding downturn deepened, Crunchbase data shows.

The most highly valued to join last month was Thinking Machines Lab, which raised a $2 billion seed round at a $12 billion value.

The U.S. led unicorn creation in June with 11 companies, followed by China with four. Israel, India, UAE and Switzerland each added one, as did New Zealand, with its first unicorn company, per Crunchbase data.

Eight exits

Six companies from the board went public, including four from the U.S. The most notable of the bunch was neobank Chime, which went public at a value of $9.8 billion. Other U.S. unicorns that exited in June include Circle, a stablecoin service for payments, AI-driven precision medicine startup Caris Life Sciences, and behavioral health company Omada Health.

Two unicorn companies from China went public: voice AI company Unisound and vehicle sharing service Caocoa Chuxing.

Two unicorns were also acquired in June: SMB accounts payable service Melio, was purchased by New Zealand-based accounting software service Xero, and Movable Ink, which was acquired by private equity firm Symphony Technology Group.

June’s newly minted unicorns

Here are the 20 newly minted unicorns in June, by sector.

AI

  • Mira Murati’s AI research lab Thinking Machines Lab raised a $2 billion seed round — the largest seed round on record — led by Andreessen Horowitz. The less than 1-year-old San Francisco-based company was valued at $12 billion.
  • Decagon, a conversational AI for customer experience, raised a $131 million Series C led by Accel and Andreessen Horowitz. The 2-year-old San Francisco-based company was valued at $1.5 billion.
  • Seekr deploys GenAI for companies and governments. It raised a $17.3 million first close in a round of funding, led by AMD Ventures and Danu Venture Group. The 4-year-old Reston, Virginia-based company was valued at $1.2 billion.
  • Fireflies.ai, an AI meeting assistant, raised a secondary financing for its early team members, valuing the company at $1 billion. The 9-year-old San Francisco-based company is reportedly profitable and says it’s used by people at 75% of Fortune 500 companies.

Robotics

  • Unitree Robotics, developer of humanoid and quadrupedal robotics for industrial and consumer use, raised a $97 million Series C led by China Mobile Innovation Industry Fund. The 8-year-old Hangzhou, China-based company was valued at $1.7 billion.
  • Gecko Robotics, a robotic AI inspection service for defense, energy and manufacturing, raised a $125 million Series D led by Cox Enterprises. The 12-year-old Pittsburgh-based company was valued at $1.3 billion.
  • Galaxy Bot, a developer of a humanoid robot for retail that manages inventory, replenishment and packaging, raised a $153 million funding led by Contemporary Amperex Technology. The 2-year-old Beijing-based company was valued at $1 billion.

Financial services

  • Kalshi, a platform to trade on event outcomes, raised a $185 million Series C led by Paradigm. The 6-year-old New York-based company was valued at $2 billion.
  • Juniper Square, a fund administration platform for private equity and venture, raised a $130 million Series D led by Ribbit Capital. The 12-year-old San Francisco-based company was valued at $1.1 billion.

Developer tools

  • Linear, a product management tool for software teams, raised an $82 million Series C led by Accel. The 6-year-old San Francisco-based company was valued at $1.3 billion.
  • Coralogix, a real time data observability platform for software, raised a $115 million Series E led by NewView Capital. The 9-year-old Tel Aviv, Israel-based company was valued at $1.1 billion.

Web3

  • Zama, a cryptography company building encryption solutions for blockchain, raised a $57 million Series B led by Blockchange Ventures and Pantera Capital. The 5-year-old Switzerland-based company was valued at $1.2 billion.
  • The Open Platform, a blockchain infrastructure developer integrated into Telegram, raised a $29 million Series A led by Ribbit Capital. The 3-year-old Dubai-based company was valued at $1 billion.

Software

  • Kylinsoft, an open source operating system to compete with Windows and MacOs in China, raised a $418 million corporate funding led by China National Software & Service Co. The 5-year-old Guangdong, China-based company was valued at $1.6 billion.

Healthcare

Sports

  • Teamworks, a software service for high performance sports team development, raised a $235 million Series F led by existing investor Dragoneer Investment Group. The 15-year-old Durham, North Carolina-based company was valued at $1.2 billion.

Defense tech

  • Military planning software company Onebrief raised a $24 million Series C extension led by Battery Ventures. The 6-year-old Honolulu-based company was valued at $1.1 billion. Its Series C funding 3 months earlier led by General Catalyst and Insight Partners valued the company at $650 million.

Network services

  • Meter, a networking infrastructure company, raised a $170 million Series C led by General Catalyst. The 9-year-old San Francisco-based company was valued at $1 billion.

E-commerce

  • Jumbotail, a B2B e-commerce marketplace for food and groceries, raised a $120 million Series D led by SC Ventures. The 9-year-old Bangalore, India-based company was valued at $1 billion. Jumbotail also announced in June that it completed an acquisition of Solv, a B2B marketplace, incubated by SC Ventures.

Devices

  • Halter, a smart collar technology to manage cattle grazing, raised a $99 million Series D led by Bond. The 9-year-old Auckland, New Zealand-based company was valued at $1 billion.

Related Crunchbase unicorn lists

Methodology

The Crunchbase Unicorn Board is a curated list that includes private unicorn companies with post-money valuations of $1 billion or more and is based on Crunchbase data. New companies are added to the Unicorn Board as they reach the $1 billion valuation mark as part of a funding round.

The unicorn board does not reflect internal company valuations — such as those set via a 409a process for employee stock options — as these differ from, and are more likely to be lower than, a priced funding round. We also do not adjust valuations based on investor writedowns, which change quarterly, as different investors will not value the same company consistently within the same quarter.

Funding to unicorn companies includes all private financings to companies that are tagged as unicorns, as well as those that have since graduated to The Exited Unicorn Board.

Exits analyzed here only include the first time a company exits.

Please note that all funding values are given in U.S. dollars unless otherwise noted. Crunchbase converts foreign currencies to U.S. dollars at the prevailing spot rate from the date funding rounds, acquisitions, IPOs and other financial events are reported. Even if those events were added to Crunchbase long after the event was announced, foreign currency transactions are converted at the historic spot price.

Illustration: Dom Guzman


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UK tourists stuck in Majorca airport for 20 hours in ‘horrendous’ situation

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The Jet2 passengers said they were told it was for “operational reasons”

The passengers due to fly back from Majorca said the situation they faced was “horrendous”(Image: Nicholas.T.Ansell/PA Wire)

UK tourists flying back from Majorca have shared how they were stuck in the airport for 20 hours due to “operational reasons.”

Passengers booked onto the Jet2 11.35am flight on July 21 from Palma Airport to Belfast were allegedly sent to board their flight as travellers would usually expect, before they were told of a delay.

At first, the airline reportedly told flyers this would be a few hours, however, shortly after, holidaymakers claimed the journey was pushed back 12 hours, with the plane estimated to take off at around midnight that day.

But, in an unexpected turn of events, passengers described how they were then informed the flight would not be taking off at all at this point.

READ MORE: Brit mum blasted after claiming sunbeds for ‘big family’ before going on outing

The airline ensured travellers were allocated a hotel room for the night, but some shared their concerns after it was alleged this process took around three hours.

Due to this, passengers claimed they had been waiting in the airport for 20 hours before they were shipped to temporary accommodation for the night.

A woman due to board the flight, who wished to remain anonymous, told BelfastLive of the “horrendous” experience: “We have always thought Jet2 were an excellent company, but the communication has just been awful.

“I have three young children, and there were a lot of other children getting on that flight. They had a few nappies, but there was no ready-made milk left for any of the babies, and they had power but couldn’t provide us with boiling water. When we went to get that, you were charged for it in the cafes.

“They sent out information to the passengers before their own staff to tell us the flight was delayed by 12 hours. The staff would give us no information, they said the window wiper was broken on the plane, and apparently the wrong replacement part was sent.

READ MORE: UK tourists face France rule change as locals demand ‘explanation’ on their behalf

“I was on the 24/7 helpline constantly, and they couldn’t give us any information. They kept telling us our flight was going to go at 12.20am. Between 12.30am and 1am, they told us the flight wasn’t happening.”

She explained how the hotel allocation process had worked the day after the incident, alleging: “We all had to go down and get our luggage then we stood for around three hours while they tried to get us hotels. We were getting our hotels at around 4am, after having been in the airport from about 8am the day before.

“I asked if there would be a cot in the hotel for my baby and they said there would be. I Googled the place before we left and it was adults only – they were sending me there with my three young children.

“They booked us in to a different hotel, and didn’t tell the driver we were going to this new hotel. The situation has been horrendous.

“Our flight is meant to go at 5.35pm today, and I have been on the phone with the helpline all day and nobody can guarantee it will happen.”

A spokesperson for Jet2 told the publication: “Flight LS362 from Palma to Belfast International has been delayed due to operational reasons. Despite our best efforts to get customers back to the UK yesterday, the flight had to night stop at Palma Airport and our teams have been working very hard to look after everyone including arranging hotel accommodation and refreshments.

“We have continued to communicate with customers throughout and will be flying customers back to Belfast today.

“We understand the inconvenience that this may have caused, and we would like to apologise to customers affected by this unforeseen delay.”



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