Daily News

View All News

HR tech deals: Hired.com raises $30 million, HyreCar plans IPO and more

June 26, 2018

Recent big news in recruiting and human cloud technology included Recruit Co. Ltd.’s $1.2 billion acquisition of Glassdoor, which was completed this month, and Microsoft’s $7.5 billion deal to buy GitHub. But there are other announcements as well, including Hired.com’s raising of $30 million in a funding round, and the proposed initial public offering for HyreCar, which enables human cloud, ride-sharing drivers to rent other people’s cars.

Here are some of the developments:

Hired.com

Recruiting platform Hired.com raised $30 million in a funding round, according to a post by CEO Mehul Patel. The company collects information from candidates and then uses an algorithm to match them to the best job, and aims to sell its services to companies under a subscription deal, according to TechCrunch. One competitor in this space is Recruit Holdings, which owns jobs websites Indeed and Glassdoor.

“We’ve raised $30 million in Series D funding which will take us to profitability in a round led by Investment Management Corporation of Ontario, a global investor with over $60 billion in assets under management, bringing our total funding raised to-date to more than $130 million,” Patel wrote in his post.

The company also hired John Kelly as senior VP of revenue. Kelly has more than 25 years of experience including at companies such as InsideView, Findly (now Symphony Talent), Icarian, SAP and Oracle.

Hired says it has seen a total of $57.5 billion worth of salary offers to date.

HyreCar IPO

A car-sharing platform for human cloud, ride-sharing drivers is planning an initial public offering. The company, HyreCar, enables individual car owners to rent their vehicles out to drivers for firms such as Uber and Lyft. HyreCar had revenue of $3.2 million in 2017, but posted a net loss of $4.3 million. It has posted an operating loss each year since its founding in 2014. The Los Angeles-based company operates in 34 states and the District of Columbia. The IPO calls for issuing 2.1 million shares at between $5 and $6 each.

Pared.com

Pared.com, an online marketplace that matches restaurants with workers, announced in a blog post that it raised $10 million in a funding round. The company says it has filled more than 40,000 restaurant shifts since its founding in December 2015 with customers in the San Francisco Bay Area and New York City.

“We’ve created a platform that allows operators to book pre-vetted restaurant professionals who have the skills to fill their shifts,” according to the post. “Pared creates more transparency between the needs of a restaurateur and the skills and availability of restaurant labor. Rather than trying to find part-time and full-time staff that turns over constantly, we identify the under-utilized capacity in the market and find them gigs that work with their schedules. We match skilled restaurant professionals with operators that need those specific skills. Operators get the talent they require to get through service, pros gain flexibility and higher pay for their much needed skill set.”

Zinc

Zinc, a blockchain-based recruitment platform, raised £2.2 million in one month using a cryptocurrency “crowdsale framework,” Silicon Republic reported. London-based Zinc plans to use the money to continue developing its platform to authenticate proof-of-work history and reputation in the technology sector.

Talentry

Talentry has raised €6 million in a series A funding round, PE Hub reported. The Munich, Germany-based social recruiting firm enables companies to find employees by using their existing employees’ social networks. The funding round will help Talentry move into new markets such as the US and the UK. The company was founded in 2013 and employs 40 people.

tilr

Human cloud platform tilr announced it entered 12 new markets in the US. The company connects temporary, project and temp-to-perm workers using an algorithm focused only on skills. The new markets for tilr are Charlotte, NC; Dallas; Denver; Jacksonville, Fla.; Kansas City; Louisville, Ky.; Madison, Wisc.; Nashville, Tenn.; New Orleans; Orlando, Fla.; Seattle; and Tucson, Ariz. It had already operated in Cincinnati, Columbus and Dayton in Ohio; Indianapolis: and Northern Kentucky.