Every founder dreams of building something meaningful, but the real test comes when you have to decide what comes next.
When we started Clevy in Paris back in 2017, our vision was simple yet ambitious—transform the way people interact with technology at work through conversational AI. Looking back now, after our journey with Fountain concluded, I realize that some of the most important decisions in a company's life aren't just about technology or market fit; they're about finding the right partners who believe in your vision as much as you do.
We founded Clevy in 2017 with a clear mission: to make human-computer interactions feel simple and intuitive rather than clunky and frustrating. Our conversational AI platform automated HR processes and queries, helping employees quickly access key resources and apps within one organic interface. From our headquarters in Saint-Ouen, France, we built something that would eventually serve over 350 customers across 60 countries, including major enterprises like Danone, Sanofi, and Capgemini.
By 2023, we had developed our proprietary CSML (Conversational Standard Meta Language) and created an AI platform that could handle employee requests in 35 languages, automatically resolving 73% of HR queries without human intervention. But success brought its own challenges—we needed to scale globally, and that required not just capital but the right strategic partner.
As we grew, we faced the classic founder's dilemma: continue building independently or find a partner. Our market, particularly in North America, was exploding with opportunity. Companies were desperately seeking AI solutions to streamline their hiring processes, and we knew our conversational AI could make a significant impact in this space.
Fountain, the San Francisco-based leader in high-volume hiring platforms, had been processing millions of applications for hourly workers across 75+ countries. They served companies like sweetgreen, Just Eat Takeaway, and Stitch Fix, helping them hire over 2 million workers since 2015. When we learned about their mission to revolutionize hiring for the hourly workforce—which represents 85% of the global workforce—we saw an incredible alignment with our technology's potential.
Company: Clevy
Founders: Salim Jernite, Francois Falala-Sechet
Transaction Type: Full Sale
Buyer: Fountain
Financial Advisors: Venero Capital Advisors
We needed an M&A advisor who understood our technology, our market, and most importantly, our perspectives as founders.
When we decided to explore strategic options, we knew we needed more than just a typical investment banker. We needed someone who understood our technology, our market, and most importantly, our perspectives as founders. That's when we found Venero Capital Advisors.
Venero stood out. This wasn't just another transaction for them—it was their specialty. The Venero team had completed more deals in this space than any other investment bank, ranking #1 globally by deal volume.
What impressed us most was their founder-first approach. They understood that for entrepreneurs like us, a transaction isn't just about numbers—it's about preserving what you've built while enabling it to reach its full potential. Their deep expertise meant they could grasp why our positioning was differentiated and how it could fit into the broader HR tech ecosystem.
Venero was the ideal partner for us. Their reach and expertise made this complex and exciting cross-border deal possible in a competitive market.
Venero's approach was refreshingly different from what we'd heard about typical M&A processes. They began by conducting an in-depth analysis of our technology and market position, crafting a narrative that positioned Clevy not just as a chatbot vendor, but as an AI orchestration layer that could accelerate any buyer's roadmap significantly.
Rather than rushing to market, they took time to understand what truly mattered to us as founders. Cultural preservation was paramount—we wanted our team in Paris to continue driving innovation. Product vision was equally important—we needed assurance that our technology would remain central to the combined offering, not just bolted on as an afterthought.
The team designed a structured process that balanced speed with thorough evaluation. They approached strategic buyers and growth equity platforms while requiring all interested parties to complete product demonstrations and customer reference calls before moving forward. This filtering approach ensured we only spent time with serious, well-informed potential partners.
Throughout the process, Venero shielded us from distractions so we could keep building and serving our customers. They managed the complex cross-border negotiations, handled due diligence coordination, and kept all parties moving toward closure efficiently.
When Fountain emerged as the clear strategic winner, everything clicked into place. Sean Behr, Fountain's CEO, immediately understood how our conversational AI could transform the hourly hiring experience. Rather than seeing Clevy as an acquisition target to be absorbed, Fountain viewed us as a critical innovation engine that would enhance their platform's capabilities.
The strategic rationale was compelling: Fountain's massive scale—serving over 1,500 organizations globally—combined with our AI technology could revolutionize how companies hire hourly workers. Our CSML language and conversational interface could streamline the entire candidate journey, from initial application through onboarding.
Beyond the business logic, the cultural fit felt right. Fountain shared our commitment to using technology to improve people's work experiences. They wanted to preserve our Paris team as a center of excellence for AI development, ensuring our innovation culture would continue to thrive.
When we announced the acquisition in June 2023, I felt a deep sense of accomplishment—not because we had achieved an exit, but because we had found a way to amplify our impact. Fountain gained our AI capabilities and accelerated their product roadmap, while we gained access to a global platform serving millions of hourly workers.
The integration exceeded our expectations. Within months, candidates were experiencing faster response times, and Fountain's enterprise clients saw dramatic improvements in conversational workflow adoption. Our CSML technology became the foundation for Fountain's AI marketplace, attracting thousands of developer downloads.
Most importantly, our team remained intact and empowered. I transitioned to Head of Worker Experience at Fountain, ensuring our product vision would guide the roadmap priorities. Our Paris office became Fountain's European AI hub, with most of our team members continuing their careers in expanded roles.
Looking back, what made this journey successful wasn't just the financial outcome—it was finding partners who understood that great technology companies are built by great people with shared values. Venero understood this from the beginning, structuring the process to protect what mattered most to us while maximizing strategic value.
The lesson I'd share with fellow founders is this: when you're ready to take that next big step, choose advisors who see your vision as clearly as you do. Technical expertise matters, but cultural understanding and genuine partnership matter more. Venero didn't just manage a transaction—they helped us write the next chapter of our story.
Today, as I watch our AI technology helping millions of people find better jobs faster, I'm grateful we took the time to find the right partners for this journey. Sometimes the most important decision isn't whether to grow—it's choosing who to grow with.
Fueling our growth: Venero navigated the capital maze to find our perfect investment partners.
To achieve our international ambitions, we needed an advisor with a global perspective and a proven ability to run a competitive process.
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