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


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