Prytek Holdings (Prytek) has completed a strategic investment in Hirewell, a US-based talent acquisition solutions firm, as it continues its expansion.
Prytek enters the Human Capital space by investing into Hirewell, a US-based talent acquisition solutions firm and merging ICV, an AI sourcing solution (a Prytek technology company) to create a vertical integrated holding and delivering a managed service solution. This combined solution includes data technology, natural language programming, and business intelligence to marketplaces and offers an entire recruiting managed service.
Prytek will provide strategic capital to accelerate Hirewell’s organic growth and invest in technology to integrate it into its managed services. Prytek will became a majority holder in Hirewell and with this partnership, will combine Hirewell’s 20+ years of recruiting expertise with Prytek’s technical acumen. As part of this investment, Hirewell is acquiring Tel Aviv based software company, ICV.
Prytek builds vertically integrated solutions by merging deep tech SaaS companies (which Prytek owns) with manage service companies to increase efficiency and by replacing basic human functionality with AI. Prytek focuses on several industry sectors including fintech (through its financial services division Delta Capita), cyber and digital transformation training, HR-tech and cybersecurity, and was founded by Igor Rybakov and Andrey Yashunsky in 2017.
Hirewell is a US-based talent acquisition solutions firm, that offers a wide variety of services, including Managed Recruiting Services, Interim Talent Solutions, and embedded On-Demand recruiting. Hirewell has dedicated recruiters with deep functional knowledge in technology, digital marketing, human resources, sales, finance & accounting, and real estate services
For four years ICV has been perfecting technology that utilises Artificial Intelligence and Machine Learning to greatly reduce the time recruiters spend searching for talent. Embedding ICV’s technology into Hirewell’s Managed Recruiting Services will differentiate both firms in a competitive market. The combined organisations will allow organisations to hire the best talent in a cost-effective manner.
Other managed services which Prytek has built is Delta Capita (financial services division of Prytek) and QAssure (which merged with prooV, which is the information technology division of Prytek).
Andrey Yashunksy Prytek’s Co CEO & Co-Founder, says: “This investment enhances our vertical supply chain to ThriveDX (a portfolio company of Prytek) where we build vertical integrated solutions for Cyber and IT education for universities and corporates. Now, we will not only be able to create new experts, but also manage their placements and solve corporate clients end to end for their recruiting needs.”
Matt Massucci, Founder and CEO of Hirewell, says: “The talent acquisition space has evolved and skill sets have gotten more complex over the last 20 years. Yet, technology has struggled to truly disrupt the industry. Recruiters are increasingly relying on multiple tools. Most of which don’t integrate, or have limited functionality. We are thrilled to partner with Prytek and ICV to address these challenges. We are excited to continue delivering successful results to our clients, while integrating best in class technology to make the process more efficient.”
Ran Weiss, CTO and Co-Founder of ICV, says: “After years of intensive research on natural language processing and machine learning technologies, we developed smart matching and sourcing solutions for human resources and are thrilled about introducing our technology to the North American market. Combining our technology with Hirewell’s decades of experience will address the difficulties in recruiting employees in today’s current job search jungle. The merger is a natural fit and we’re ready to propel Hirewell’s technology efforts forward.”