Hirewell, a talent acquisition solutions provider, started out with a staff of just three people. Today, it has more than 200 employees and a global reach. CEO Matt Massucci says this past year the company made significant strides in its growth, having invested heavily in technology and taking some outside funding.
"We've done some acquisitions," Massucci says. "We've invested in technology and really making a switch to disrupt the recruiting and talent market by leveraging technology and people to change the way companies hire and attract talent."
In November 2021, Hirewell received a $21 million capital raise led by Prytek Holdings. Massucci says it was Prytek that approached him about the investment.
"As an entrepreneur and founder, you get contacted all the time by places, whether it be private equity, strategic buyers, you name it," he says. "And the vast majority were not of interest to me. This one was a very interest because I like their model. They invest both early-stage tech companies — so they have a VC arm but they also private equity arm. And so the combination of the two, they effectively invest in services firms and then help them pivot to become more tech enabled."
As part of the investment, Hirewell acquired ICV, a Tel Aviv-based software company. The acquisition, he says, helps Hirewell improve its recruiting operations better in part through a top-of-funnel sourcing tool that helps the company attract and find candidates.
Bringing on a partner with a global reach brought with it several other changes.
"We went from being a U.S.-based recruiting firm and now we have technology solutions, we have employees across probably 10 countries and three continents," Massucci says. "Everything has changed. It's giving us more scale and scope and just a different set of challenges. But a lot of it's been exciting. And it's the challenge I was looking for. When this came about, having founded and led a company for those 20 years, I wanted that next challenge, that next set of things to take on."
Massucci spoke on the Smart Business Dealmakers Podcast about Hirewell, its growth, recent capital investment and acquisitions, and how these changes are affecting the company.