Vettery

Vettery was established in New York City in March 2013 by co-founders Brett Adcock and Adam Goldstein. Initially a human-intensive recruiting company, the firm faced significant financial challenges, leading Adcock to invest his savings and take on personal debt to sustain operations. A pivotal moment came in 2015 when the founders shifted to a two-sided marketplace model, focusing on connecting candidates and employers with minimal human intervention. This strategic pivot proved successful, leading to a $9 million Series A funding round in 2016 led by Raine Ventures and Greycroft Partners.

The company operates as a digital recruitment marketplace, connecting employers with a curated pool of candidates in sectors such as technology, sales, and finance. Its business model is performance-based, primarily charging companies a placement fee calculated as a percentage of a hired candidate's first-year salary. Vettery's platform utilizes machine learning algorithms to analyze hiring activity and recommend suitable candidates, which helps to reduce the time-to-hire for its clients. The service caters to a range of employers, from startups to Fortune 500 companies like Amazon and JP Morgan.

A significant milestone occurred in February 2018 when the Swiss staffing firm Adecco Group acquired Vettery for a reported sum of over $100 million. Under Adecco's ownership, Vettery continued to expand, and in November 2020, it acquired a competing tech marketplace, Hired. Following this acquisition, the two platforms were integrated, and in March 2021, the combined entity was rebranded as Hired, absorbing the Vettery brand. After the acquisition, the founders remained with the company for a period before moving on to other entrepreneurial ventures, including Archer Aviation.

Keywords: recruitment marketplace, talent acquisition, hiring platform, HR tech, machine learning, placement fees, tech recruiting, sales recruitment, finance recruitment, Adecco Group