Multimillion-pound investment to drive Hiring Hub’s expansion plans
Manchester recruiter marketplace, Hiring Hub, has secured a multimillion-pound investment from European private equity fund, MonacoSol.
The influx will be used to scale its sales and customer operations in the UK and internationally, including the creation of more than 20 jobs.
Led by founder, Simon Swan, Hiring Hub, a marketplace platform that connects businesses with recruiters to help them find the best candidates, is used by major employers such as On The Beach, London & Partners, SSE, Henkel and Sega.
With MonacoSol’s investment, Hiring Hub has already brought 14 new team members on board to strengthen its offering at its headquarters in Manchester’s Northern Quarter. The business has ambitious growth plans and will be recruiting up to 20 more people in 2023.
With the aim of democratising the fragmented recruitment market, Hiring Hub links businesses with top-rated recruitment agencies to find quality candidates quickly. Its marketplace 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 recruitment sector, following its injection of capital into Furza, a graduate sales recruitment and training business, also based in Manchester, and sees Simon Wilkinson join both companies as chairman.
Mr Wikinson is the former CEO of Wilmslow-based Mobica, and Myriad Group AG. He’s now chair of multiple PE-backed businesses, including: RealityMine (Kennet Partners & GP Bullhound), cti Digital (LDC) and IEG4 (LDC).
Simon 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.
“The partnership with MonacoSol represents a fresh chapter for us, and will allow our team to focus on growth after what has been a challenging period. With the impact of COVID-19 firmly behind us, it’s full steam ahead now as we look to return to double-digit month-on-month growth.”
Simon Wilkinson, newly-appointed chairman at Hiring Hub, said: “Hiring Hub has always been an exciting business and proposition, one in which I was already an angel investor in before this injection of capital from MonacoSol. 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, and is growing its own team this year as it seeks further investments to expand its portfolio of companies, which also includes WebContractor and OpenECX in Manchester.