Careerpass Network secures GBP2m investment to support recent acquisitions
Early talent recruitment market specialist Careerpass has secured a GBP2 million investment from BOOST&Co to support the acquisitions of Gradcore.com and Graduate-jobs.com.
This move will add to the firm’s growing number of brands that consolidate the early talent recruitment space, to continue building the workforce of tomorrow.
A leader in graduate recruitment, Careerpass helps employers identify the best talent for their business by providing media and advertising support, tech solutions for virtual connectivity and even offering employability tools to universities.
More than three million students and graduates have used the Careerpass Network in the last 12 months, equating to 50 per cent of the recent student and graduate population. Additionally, more than 250 employers have used the Careerpass Network in the past year to identify the right candidate for their business and up to a third of UK universities have used the firm’s tech solutions to assist in finding their most recent graduate hires.
BOOST&Co chose to work with Careerpass due to its strong management team, which has implemented an efficient acquisition strategy. After hiring a further eleven employees to support these acquisitions, the business is in a strong place to accelerate its growth in the years to come.
BOOST&Co is a leading provider of growth capital for innovative, fast-growing UK SMEs. The independent asset manager offers loans from GBP1 million to GBP10 million, covering a wide range of sectors, with a strong track record in technology, media and telecommunications (TMT). It has funded more than GBP500 million across more than 130 deals to date and provided close to GBP200 million under the government’s CBILS initiative to support UK SMEs during the pandemic.
Zac Williams, chief executive of Careerpass Network, says: “Our growth strategy is to consolidate the early talent marketplace. Covid-19 has presented many challenges in our industry, but has also provided real opportunity.
“BOOST&Co recognised this opportunity and took the time, not just to understand our proposition, but also the market in which we operate. Ryan and the wider BOOST&Co team have a wealth of experience and are strategically-focused and I’m looking forward to working even more closely with them going forward.”
Ryan Sorby, the head of the north and Scotland at BOOST&Co says: “It was great to work with Zac and the team at Careerpass Network and support them with a funding package that allows them to make two fantastic acquisitions. The opportunity to consolidate not only creates value, but brings together a breadth of skills and experience which will ultimately serve the early talent market even better.”
“The Careerpass team will no doubt continue to use their innovation to take the lead in providing employers, universities and talent with a unique recruitment solution.”