Investment firms pump $2 million into Wedge platform

A group of companies has invested $2 million in the recruitment and selection platform Wedge.

Grand Rapids-based Wedge said last week it raised $2 million in funding from Michigan Capital Network, Michigan Rise and Northgate Holdings, among others.

Additionally, Dale Grogan, managing partner of Michigan Capital Network, and Rocki Howard, head of human resources and equity for The Mom Project, have joined Wedge’s advisory board.

Faced with a growing talent shortage amid the phenomenon known as the Great Resignation, employers have begun to reconsider traditional methods of hiring qualifications, including resumes, Wedge said.

Wedge works to take the stress and friction out of the hiring process by giving candidates a platform to tell their stories through a short video screening, the company said.

“The hiring space continues to evolve…rapidly,” Howard said. “Employers are looking for effective ways to connect with candidates without bias, knowing that every hire impacts the success of their teams and, ultimately, their organizations. To create fairer workplaces, we need to empower job seekers to tell their stories, and Wedge does just that. It’s exciting to go on this journey with them.

Paul D’Amato, CEO and Managing Director of Michigan Capital Network, agreed with Howard.

“Wedge provides a best-in-class solution, solving a critical problem for employers trying to hire qualified employees,” he said. “We are thrilled to have an innovative Michigan-based company like Wedge as our first investment of 2022. Wedge CEO Matt Baxter and his team represent everything we look for in an investment.”

Prem Bodagala, Principal of Michigan Rise and Red Cedar Ventures, said his team is proud to partner with Wedge, not only with this investment from Michigan Rise, but also through programming from its sister affiliate Michigan State University. , Spartan Innovations, which co-manages the Grand Rapids Smart Zone.

“Matt and his team are building a scalable, world-class technology company in Grand Rapids that tackles important issues related to the future of work,” Bodagala said. “We are thrilled to be a part of Wedge’s story and to support its mission to disrupt hiring.”

Wedge CEO Matt Baxter said he’s pleased that more employers are starting to realize that job candidates are more than their resumes.

“We are extremely grateful for the participation of Michigan Capital Network, Michigan Rise and Northgate Holdings in this round,” he said. “These investors and the addition of our new advisors, Dale and Rocki, provide the experience, connection and perspective that businesses like Wedge need as we scale. With their support, we will continue the mission of The Wedge by introducing new product offerings, expanding our partnerships and changing the way hiring happens.

More information about Wedge is in line.