Founded in 2010 by Sara Jones and Simon Swan, Hiring Hub connects employers to an approved network of specialist recruitment agencies that will compete to fill a company’s vacancy for a fixed fee that the employer sets, thereby making recruitment easier and more transparent. This innovative business model gained significant traction over the past few years with 750 registered recruitment agencies and over 400 employers. This year, the company sought new investment to embark on its next phase of growth and chose VentureFounders to support them.
VentureFounders has been created to make angel style investing in startups more affordable and accessible to all. Each investment opportunity put forward to investors has been subject to a detailed process of due diligence by the VentureFounders team to ensure that they have potential for growth and profit, a sustainable competitive advantage, a clear path to commercialisation, a strong management team and viable monetisation options.
VentureFounders sourced the funds for Hiring Hub’s fundraise from 23 UK-based investors and the £425,000 investment was completed within 38 days of launching the transaction, with ticket sizes ranging from £2,500 to £100,000.
Sara Jones, co-founder of Hiring Hub, commented: “This capital injection will allow us to expand our recruitment agency and employer network nationally and internationally, accelerate the continued technical development of our online platform and invest in PR, targeted digital marketing and the scaling of our direct sales team to accelerate brand awareness and customer acquisition.
James Codling, co-founder of VentureFounders, added: “We were drawn to Hiring-Hub because of their innovative and disruptive technology and the high calibre of the management team. Simon, Sara and the whole Hiring-Hub team have the potential to shake up the recruitment market and we’re delighted to partner with them and make this a huge success.”
This is the second successful completion from VentureFounders since the platform launched last month, following a £525,000 fundraise for EcoHydra Technology Ltd, the hand hygiene innovator in September.