Manchester-based recruiter marketplace, Hiring Hub, has secured a multimillion-pound investment from European private equity fund, MonacoSol.
The funding will be used to scale its sales and customer operations in the UK and internationally.
Led by founder Simon Swan, Hiring Hub connects businesses with recruiters to help them find the best candidates and has been used by On The Beach, London & Partners, SSE, Henkel and Sega.
With MonacoSol鈥檚 investment, Hiring Hub has already brought onboard 14 new team members to strengthen its offering at its headquarters in Manchester鈥檚 Northern Quarter.
The business was founded in 2011 and has ambitious growth plans and will be recruiting up to 20 more people in 2023.
This is MonacoSol鈥檚 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.
Swan said: 鈥淲e鈥檙e excited to partner with MonacoSol, an organisation which is as ambitious as we are about the opportunity to democratise the UK鈥檚 recruitment industry while helping companies recruit senior hires faster and more efficiently online.
鈥淲e 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.
鈥淭he 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鈥檚 full steam ahead now as we look to return to double-digit month-on-month growth.鈥�
Wilkinson, newly-appointed chairman at Hiring Hub, said: 鈥淗iring 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鈥檚 great to get more involved now. I鈥檓 looking forward to helping the team build on its foundations and drive growth in the UK and Europe.鈥�
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.