WizeHire Closes $7.5M Series A Round to Transform How Small Businesses Hire
- Series A funding round co-led by Amplo and Mercury; additional investors include existing backers Ruchit Shah and RigUp co-founder Sandeep Jain
- Personalized end-to-end hiring resources and integrated personality assessment technology was previously only available to large enterprises; WizeHire recruiting platform has been implemented across the real estate, mortgage and insurance industries with growing traction in the hospitality vertical
- Prior to institutional funding round, WizeHire bootstrapped to over 7,000 paying customers and $4.7M ARR in 2020
HOUSTON–(BUSINESS WIRE)–#ApplicantTracking—WizeHire, the most user-friendly, effective hiring solution for small businesses, today announced the closing of $7.5 million in Series A funding co-led by Amplo and Mercury. Additional investors include existing backers Ruchit Shah and RigUp co-founder Sandeep Jain.
WizeHire intends to use the funds to provide small businesses a faster, easier hiring experience previously only available to large corporations. That includes creating more personalized resources to address clients’ unique hiring needs, hiring more support staff and expanding its partner program to build a network of experts in its key industries of real estate, insurance, mortgage, legal and hospitality.
“We’re a small business helping small businesses with a team of people looking out for you,” said Sid Upadhyay, WizeHire’s co-founder and CEO. “Hiring is complex and personal. Our customers see what we do not just as software; they see us as a trusted advisor.”
Transforming Hiring Into a Hyper-Personalized Service
Most small business owners don’t have the time or resources to hire the right talent. Recruiters and staffing services are too expensive, and horizontal job platforms don’t cater to specific industry needs. WizeHire provides convenience and quality for an affordable price, helping businesses find and hire the best candidates with expert coaching and software that simplifies the recruiting process.
The U.S. unemployment rate was 6.3% in January, and more than 10 million people remained out of work. As more service-oriented industries get ready for the rebound following COVID-19, employers must be equipped with the resources they need to find the right talent in their local labor market. WizeHire provides a service that is hyper-personalized for different industries. By digging deeper into what it takes to hire in each sector, WizeHire delivers a custom solution based on an industry’s unique hiring challenges.
Investor Perspectives on $7.5M Series A Funding Round
“WizeHire is focused on a future where small business owners have easy access to the elevated hiring experience large corporations already have,” said Amplo’s Sam Garcia, who will join WizeHire’s board. “They’re not just creating a better alternative to current recruiting solutions; they’re giving employers more peace of mind about the hiring process so they can get back to building their business.”
“We are thrilled to support WizeHire’s opportunity to define talent acquisition for small businesses,” said Heath Butler, Managing Director at Mercury, who will also join WizeHire’s board. “By systematically helping hiring managers align company values, behavioral competencies, technical skills and industry requirements to identify the best candidate, WizeHire is enabling their clients to maximize productivity, reduce turnover cost and increase customer loyalty.”
More than 7,000 businesses trust WizeHire to help them attract top talent and simplify their recruiting process. The company recorded $4.7 million in run rate in 2020, seeing its highest year-over-year growth despite the COVID-19 pandemic. During the height of the pandemic, WizeHire launched a free version of its product to help small businesses rehire, and partnered with lenders for the Paycheck Protection Program (PPP) to make relief more accessible to local businesses.
To learn more, visit WizeHire.com.
WizeHire is a recruiting platform that makes it easy for small businesses to grow their teams. WizeHire started in 2014 as a way to give busy small businesses the elevated hiring experience that was only available to large corporations. Their expert hiring coaches and smart recruiting software give business owners the support and resources that make hiring easy. Over 7,000 businesses trust WizeHire to help them build the best team. Find out more at WizeHire.com.
Mercury is an early-stage venture capital firm headquartered in Houston, Texas. With over $300 million under management, Mercury invests in entrepreneurs and innovation across Middle America. Our investment themes focus on SaaS, Cloud, and Data Science/AI platforms enabling the digital transformation of markets and industries. Learn more at www.mercuryfund.com.
About Amplo VC
Amplo is a global venture capital firm helping build companies that matter. With more than $300 million under management, Amplo portfolio companies include Fundbox, Andela and Two Chairs. Learn more at www.amplovc.com.