Hiring Hub has secured a multimillion-pound investment from private equity fund MonacoSol to scale its operations in the UK and internationally.
The Manchester-based recruitment marketplace connects businesses with recruiters to help them find the best candidates and is used by major employers such as On The Beach, SSE, Henkel and Sega.
Hiring Hub has already brought in 14 new team members with the new funding, and its further growth plans include recruiting up to 20 more people in 2023.
Hiring Hub aims to democratise the recruitment market by linking businesses with recruitment agencies to find quality candidates quickly. Its platform provides organisations with an on-demand network of peer-reviewed, specialist recruitment agencies, with a view to taking the pain out of recruiting for HR managers and heads of departments alike.
This is MonacoSol’s second investment in the Manchester recruitment sector. It previously invested in graduate sales recruitment and training business Furza, and current Furza chairman Simon Wilkinson will also step in as chairman at Hiring Hub following the deal. Hiring Hub Simon Swan continues as CEO.
Swan said: “We’re excited to partner with MonacoSol, an organisation which is as ambitious as we are about the opportunity to democratise the UK’s recruitment industry while helping companies recruit senior hires faster and more efficiently online.
“We all use marketplaces to do things like book travel and find insurance, and at a time when the war for talent makes it more challenging than ever to find candidates, using the same model is helping companies find candidates quickly with less hassle through our trusted network of specialist recruitment agencies.”
Newly appointed chair Wilkinson, who had already invested in Hiring Hub as an angel investor prior to the latest announcement, added: “Hiring Hub has always been an exciting business and proposition. It’s great to get more involved now. I’m looking forward to helping the team build on its foundations and drive growth in the UK and Europe.”
MonacoSol is the family office of Manchester software entrepreneur Richard Beaton. It is growing its own team this year as it seeks to further expand its investment portfolio, which also includes WebContractor and OpenECX in Manchester.
