HireArt lands $26.25M to help manage and recruit W2 contractors for clients

HireArt contractors

HireArt contractors


HireArt, which TechCrunch previously described as a “resume-killing” jobs marketplace, today announced that it raised $26.25 million in a Series B financing round led by Three Fish Capital with participation from over a “half dozen” angel investors. CEO Nick Sedlet said that the cash will be put toward product development and more than doubling HireArt’s 82-person headcount within the next year.

HireArt was originally founded in 2012 as an “assessment company” — the startup sourced and screened job candidates for companies much like a temp agency. But the co-founders — Dain Lewis, Eleonora Sharef and Sedlet — discovered that many of HireArt’s clients were hiring its people by putting them on the payroll of staffing firms as contractors.

“It was an ‘aha’ moment for us — here was a market that wanted our sourcing product and had amazing unit economics,” Sedlet told TechCrunch in an email interview. “So in 2017, we ‘re-founded’ the company and launched our current model under which HireArt both sources and employs the workers on behalf of businesses.”


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Prior to HireArt, Lewis was a senior business analyst at commercial real estate company General Growth Properties — since acquired by Brookfield Property Partners. Sharef was a business analyst at McKinsey, and Sedlet was a Goldman Sachs strategist.

Companies often use staffing agencies to hire and employ workers who can’t be classified as independent contractors. Agencies focus on recruiting candidates, but — the way Sedlet tells it — they don’t pay much attention to the post-hire experience.

“As a staffing client, it’s difficult to manage basic workflows, like pulling a roster of workers, giving someone a bonus, or approving PTO. As a worker, the staffing industry only offers bare-bones benefits, makes basic administrative tasks difficult, and certainly provides little support like career growth and performance management,” Sedlet said. “We think that great software — coupled with caring support — solves these problems, by enabling self-serve functionality for businesses and workers, and providing an employment experience that’s worthy of the value that contractors bring to companies.”

With HireArt, a hiring manager can request workers to receive a curated shortlist of candidates and schedule interviews before making any offers. Through the platform, managers can perform tasks like changing pay rates, approving expenses, and pulling reports.

FULL STORY


HireArt contractors

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