FactoryFix, a recruiting platform that helps manufacturing companies hire skilled workers, has announced a $10 million Series A financing.
Grotech Ventures led the round with participation from Capital Midwest, Great North Ventures, Hyde Park Venture Partners, Revolution Rise of the Rest, and JFF Labs. The company has raised $16 million to date.
This funding caps off a year in which the company saw revenue grow by more than 400 percent. FactoryFix now helps hundreds of industrial companies in sectors like automotive, food and beverage, packaging, and warehousing.
Their talent network has grown to over 300,000 skilled manufacturing professionals like CNC machinists, maintenance techs, machine operators, welders, and more.
Patrick O’Rahilly, CEO and founder of FactoryFix, says: “The manufacturing industry is facing a crippling labor shortage with over a million jobs sitting open right now.
“We plan on chipping away at this problem on two fronts. First, for employers, we’re building technology that streamlines their hiring process and delivers more qualified and responsive candidates.
“Second, we’re actively recruiting the next generation of workers by building a community that helps coach them on how they can build a lucrative, debt-free career in this industry.”
FactoryFix’s platform delivers more candidates but also utilizes a scoring algorithm to automatically pre-screen applicants to ensure their customers only spend time on the people that are qualified and responsive.
Stephanie Elliott, human resources manager at G&L Tube, in Cookeville, Tennessee, says: “FactoryFix is a great addition to our arsenal of recruitment efforts here at G&L Tube.
“The biggest value in using FactoryFix is the depth of candidate pool and the time savings that come from only engaging with prescreened candidates,” said Elliott.
O’Rahilly says: “The manufacturing industry in the US is buzzing right now. Every company we talk to has turned down business at some point because they didn’t have enough qualified people to fulfill the order.
“The only way to solve this problem long-term is to combine technology with an engaged community that’s excited to work in this new age of manufacturing.”