January 26, 2023 – Launch of the recruitment software InsuredRef secured pre-seed funding led by Bullhorn Ventures, along with several other entrepreneurs in the recruiting industry. RefAssured’s mission is to show recruitment and talent agencies how to maximize the value of reference checking while building new relationships with clients and talent.
“Bullhorn Ventures is thrilled to be an early investor in RefAssured, not just because of the product but also because of the team,” said Nina Eigerman, senior vice president of alliances and business development at Bullhorn. . “The founders have expertise in the field as commercial recruiting operators and recruiting software providers, which gives us confidence in the direction of their development. RefAssured is not just a tool for recruiter productivity, it’s a way to improve connections throughout the recruiting cycle. Early market feedback reflects how well the product is aligned with the needs of the recruiting industry.”
“Having grown in the recruiting industry, we are excited to continue working with recruiting agencies and software partners to deliver meaningful improvements to talent and the customer experience,” said Brian Vesce, Founder and CEO of RefAssured. .
The investment will be used to accelerate RefAssured’s product development, deepen automation capabilities, advance integrations with partners and expand its growing customer base.
Bullhorn, a global software provider for the recruitment industry, announcement the launch of Bullhorn Ventures to invest in early-stage software companies with the potential to offer unique value to third-party recruiting and staffing firms. In addition to financial investment, Bullhorn Ventures provides mentorship and other resources to help accelerate the growth of promising companies.
Investment financing
Investors pour money into recruitment solutions companies, especially those that have a psychology and data science component. Here is an overview of other recent financing agreements obtained by these companies from the Hunt Scanlon Media Archive:
ShiftKey, a Dallas-based healthcare staffing firm, has closed a funding round sponsored by majority investor Lorient Capital, valuing the company at more than $2 billion. Crunchbase News reported the round was $300 million. Lorient’s investment was made through a continuation vehicle piloted by the Ares Management Secondaries and Pantheon funds. Other participating investors alongside Lorient, Ares and Pantheon include Clearlake Capital and Health Velocity Capital.
Chicago-based referral recruiting service Hunt Club raised $40 million in Series B co-led by WestCap and Sator Grove. The investment round follows Hunt Club’s $10 million Series A funding in October 2021 and will fuel the company’s national expansion, technology platform enhancements and grow its community by more than 20 000 business leaders who help connect the most innovative companies with the best global candidates. “We are reimagining the entire talent management process. Top talent is not only hard to find, it’s also hard to reach – and traditional recruiting firms aren’t equipped to innovate for their clients,” said Nick Cromydas, co-founder and CEO of Hunt Club. “Our technology bridges this gap by introducing a personalized approach to help companies change the way they approach talent acquisition. Hunt Club is proud to partner with WestCap, a leading growth capital firm led by a team that has founded, invested in and operated technology marketplaces such as Airbnb for over 20 years.
JobGet, a mobile app for hourly workers, secured $52 million in Series B funding, including $12 million in venture debt funding. JAZZ Venture Partners and Sanabil Investments co-led the round, with participation from Pillar VC and numerous other investors. “Our app is just the beginning,” said Tony Liu, co-founder and CEO. “We’re building a new kind of platform that enables deeper connections between our talented hourly workers and hiring managers, with smart technology connecting the two to better opportunities.” “We are excited to continue supporting the explosive growth of JobGet,” said Zack Lynch, Managing Partner, JAZZ Venture Partners. “The company has bolstered its leadership team with a wealth of expertise that will energize its efforts to transform the job search experience for hourly workers.”
SeekOut Announces $115M Series C Funding Round Led by Tiger Global Management. The round values the Seattle-based company — an artificial intelligence-powered talent search engine — at more than $1.2 billion. “The big quit remains a priority for employees and employers heading into 2022,” said Matthew Merker, head of research, talent acquisition and strategy at IDC. “The way employees search for work opportunities has fundamentally changed, and employers need to rethink how they find new talent and retain existing talent. SeekOut’s data-driven Talent 360 platform offers organizations an advanced set of features that facilitate this transition and redefine enterprise talent optimization in the future.
Hirewell, a Chicago-based talent acquisition firm, has secured a $21 million investment from Prytek, a global investment firm specializing in integrating global service businesses with cutting-edge technologies. Prytek will provide capital to enable Hirewell to accelerate organic growth and integrate technology into its managed recruiting services. As part of the investment, Hirewell will acquire ICV, a Tel Aviv-based software company. “The talent acquisition space has evolved significantly over the past 10 years, but technology has yet to truly disrupt the industry,” said Matt Massucci, Founder and CEO of Hirewell. “Recruiters increasingly rely on multiple platforms, most of which don’t integrate or have limited functionality, and some of which actually compete with the recruiters they claim to support. The ability to combine best-in-class recruiters with cutting-edge technology will allow us to be the ideal recruiting partner for companies serious about finding top talent. We are thrilled to partner with Prytek to take this step and continue to deliver powerful results to our customers.
Related: LCap Group invests in Rowan Executive Search
Contributed by Scott A. Scanlon, Editor; Dale M. Zupsansky, editor; and Stephen Sawicki, Editor – Hunt Scanlon Media
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