VeroSkills – the AI hiring platform focused on solving the $1 trillion blue-collar labor shortage crisis – today announced the close of a $5.3 million funding round led by Yonder Ventures, along with Circadian Ventures and Motivate Ventures, with participation from Colchuck and Tony Summerville, the founder of Fleetio. The funding allows VeroSkills to accelerate its rapid growth – the firm contracted $15 million in annual recurring revenue in the past six weeks based on its ability to connect employers with millions of pre-screened, ready-to-work candidates from immigrant, refugee, and underserved communities.
For every five workers who retire from blue-collar sectors, only two replace them, creating millions of unfilled jobs. The manufacturing industry alone currently has hundreds of thousands of positions already vacant – a shortfall projected to swell to many millions by the end of the decade.
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"What staffing and recruitment agencies do in weeks and months, we do in days and hours, thanks to our AI-driven platform," said Daniel Walsh, CEO and Founder of VeroSkills. "Given the severity of the labor crisis, there's no time to waste. There are millions of excellent workers being overlooked by traditional recruiting methods, and VeroSkills has created an effective, first-of-its-kind platform that allows companies to confidently employ them. We're built to infinitely scale, and I'm proud to work with our investors to reach our potential."
VeroSkills' workforce offers employers clear advantages in retention and reliability. Ninety-three percent of employers report retention rates two to three times higher among VeroSkills hires. All workers are fully authorized to work in the U.S., EU, or Canada from day one, streamlining onboarding and reducing administrative hurdles.
"VeroSkills represents the next generation of AI-first labor marketplaces capable of serving the long tail of small and medium-sized businesses that account for 46% of hiring in the United States. What wasn't economically viable before, efficiently staffing these businesses at scale while interviewing candidates in 52 languages, is now possible with AI, unlocking millions of workers and employers who were previously invisible to each other," said Colin Gardiner, Founding Partner at Yonder Ventures.
"Under Daniel's leadership, the team is consistently achieving standout results through innovation in an industry historically slow to evolve. Their commitment to building sustainable employment solutions in labor-limited markets continues to resonate with all stakeholders," said Mike Dowdle, Founding Partner at Circadian Ventures.
"VeroSkills has cracked the code on what traditional staffing agencies have struggled with for decades: speed, scale, and retention. Their AI-powered approach delivers measurable results in an industry ripe for disruption, and we're excited to support their rapid growth trajectory," said Lauren Deluca, Founding and Managing Partner at Motivate Ventures.
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Source: PRNewswire
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