Hiring-Hub.com secures over 500k investment
Hiring-Hub.com secures over £500k investment
Manchester-based online recruitment technology company Hiring-Hub.com has secured a “significant investment of over £500k” from John Laithwaite Partners LLP, placing a seven-figure valuation on the business.
Founded by Simon Swan and Sara Jones in 2011, Hiring-Hub.com has enjoyed consistent month-on-month growth since its launch and it was this, combined with the founders’ vision, which led to the investment.
“We were very impressed by Simon and Sara’s achievements to date, and the business plan they had devised,” said Bill Tannahill, CEO of John Laithwaite Partners LLP. “Moreover, it is clear that Hiring-Hub.com’s online recruitment model has the potential to totally disrupt what is a very large industry, and that is an opportunity that excited us.”
A Software-as-a-Service (SaaS) company, Hiring-Hub.com was included in the Startups 100, a collection of the most exciting, creative and innovative startups in the country. It was also praised by Prime Minister David Cameron after its triumph in the Government-backed Local Business Accelerator initiative. In addition, Swan was named Software Entrepreneur of the Year at the 2012 Digital Entrepreneur Awards.
Used by a growing army of companies in the UK, Hiring-Hub.com’s business model turns traditional recruitment on its head. Its free software helps companies find staff via third-party recruitment agencies, firstly by connecting employers to an approved network of specialist recruitment agencies, and then providing both parties with a secure environment in which to trade together online.
“It’s a great model, and another exciting deal for us as we look to invest in high growth businesses where the proposition looks like great fun to be a part of,” added Tannahill.
The investment will provide Hiring-Hub.com with the working capital it needs to grow its sales and marketing operations aggressively in 2013, while enabling it to explore other revenue channels as a technology provider within the recruitment sector.