Houston-based WizeHire has raised more capital to scale its hiring platform for small businesses.
New York-based Tiger Global Management led WizeHire's $30 million Series B funding round, the firm announced May 10. The round also saw participation from returning investors Houston-based Mercury Fund and Spring-based Amplo.
The local company develops a hiring platform for small companies that might not have a hiring or HR manager. Employers can create customized job ads, which are optimized by hiring coaches and posted on dozens of different job boards. As applicants roll in, their resumes and profiles are gathered in a single platform for review.
WizeHire, which launched in 2014, now serves more than 15,000 employers. During the Covid-19 pandemic, the company expanded the scope of its platform to assist small businesses with finding available tax credits and streamlining the Paycheck Protection Program forgiveness process.
"The pandemic was an incredibly tough time for Main Street, and we were right there with them. We're constantly amazed by the depth of our clients' trust in us and, in response, have stepped up to serve them as a trusted adviser in their business growth," said Sid Upadhyay, co-founder and CEO at WizeHire. "We plan to build a marketplace for small businesses to have access to the resources they need to succeed."
With the new funding, WizeHire aims to add more capabilities to its hiring platform, like offerings for tax, payroll and insurance advice and capabilities for background checks and legally approved offer letters. The company also aims to expand into new industries, including automotive, hospitality, insurance and home services. WizeHire said it recently launched mobile apps for iOS and Android devices.
"Rapid adoption of the WizeHire platform by small businesses illustrates the market's potential, and we are excited to partner with Sid and the WizeHire team," said Tiger Global Partner Sam Harland.
The new capital brings WizeHire's total funding to $37.5 million and its valuation to $250 million, the company said. Last year, WizeHire announced raising a $7.5 million Series A round co-led by Mercury Fund and Amplo. The firm doubled its customer base and tripled its headcount during 2021.
