HeadRace, a recruiting platform founded by three former members of the Marketplace team at Uber, has secured $6m in seed funding from Greylock, Susa Ventures, and Breyer Capital, with Packy McCormick, Kindergarten Ventures, and Blue Lion Global also participating in the funding round. The technology platform provided by HeadRace is now available to any recruiter or employer who wants to use it, and is designed to democratize the recruitment industry by bringing the value of network effects to the industry.
Laszlo Korsos, CEO of HeadRace, stated that as an economist, he found that hiring was woefully inefficient in terms of experience and economics. Employers are always looking to lower hiring costs, but they do not want to compromise on quality. This is where HeadRace comes in with its innovative technology platform that aims to democratize the recruitment process. Employers who use HeadRace get access to a network of tenured recruiters via curated recommendations or by posting an opportunity for recruiters to discover and bid on. HeadRace offers two key features unique to their platform: first, HeadRace is the only technology platform that shows employers recruiters’ placement records, giving them added confidence that they are working with quality recruiters with vast networks. Second, HeadRace helps recruiters collaborate with one another, often lowering the time it takes to fill open roles.
For recruiters, HeadRace offers a technology platform that provides the best opportunities to connect with new customers and earn. Whether they have a 20-year track record or are just starting out and want to earn extra income on the side, HeadRace helps them expand their business. Additionally, HeadRace’s software helps independent recruiters save on overhead costs like legal and payment processing, supporting everything from retained executive, container, or contingent searches, to even finding new opportunities for amazing final-round candidates.
According to David Thacker, Partner at Greylock, employers are frustrated with the recruiting agency model, which is outmoded, broken and expensive. HeadRace offers businesses access to a network of experienced recruiters with proven results, a streamlined product experience, and the power to name their own price. Nathaniel Manning, COO of HeadRace customer OurKettle, said that HeadRace has been a game-changer for his team. The platform has enabled them to scale faster than before, and it has created significant cost savings versus every imaginable alternative.
HeadRace has been in private beta for the past few months, during which time the company has helped companies place people in a wide range of roles, including COO, CMO, Software Engineer, Account Executive, and Data Scientist. Now that HeadRace is publicly available, it is expected to revolutionize the recruitment industry by providing employers and recruiters with a more efficient, cost-effective, and user-friendly way to connect with one another.