HeadRace, a Texas-based software company that operates a network for recruiting services, recently announced that it has raised $6 million in seed funding. The round was led by Greylock, Susa Ventures, and Breyer Capital with participation from Packy McCormick, Kindergarten Ventures, and Blue Lion Global.
Co-founded by three early Uber marketplace leaders, Laszlo Korsos, Kevin Brinig, and Amos Barreto, HeadRace is an HRTech company that offers the best opportunities to connect with new customers and earn. Employers who use the platform get access to a network of tenured recruiters via curated recommendations or by posting an opportunity for recruiters to discover.
The startup offers two critical features for employers unique to its platform. First, it is the only technology platform that shows employers’ recruiters’ placement records to give them added confidence that they are working with quality recruiters with vast networks. And second, it helps recruiters collaborate, often lowering the time it takes to fill open roles. HeadRace makes it easier for employers to find qualified and interested candidates to hire in addition to helping independent recruiters grow their earnings.
Speaking about the company, Co-founder & CEO of HeadRace, Laszlo Korsos, said:
As an economist, what always struck me about hiring was that the experience and economics were woefully inefficient. Employers are always looking to lower costs on hiring, but they don’t want to sacrifice on quality. We believe there is an opportunity to democratize the hiring process with technology, and that’s why we started HeadRace.
In addition, HeadRace’s software helps independent recruiters save on overhead costs like legal and payment processing – supporting everything from the retained executive, container, or contingent searches, to even finding new opportunities for amazing final-round candidates.
David Thacker, Partner, Greylock, added:
Employers are frustrated with the recruiting agency model – it 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 prices.
HeadRace has been in private beta for the past few months. During that time, it has helped companies place people in various roles, including COO, CMO, Software Engineer, Account Executive, and Data Scientist. Now that the portal 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.
