Health Advocates Network Secures Over $15.6 Million in Growth Capital

July 11, 2025 – Health Advocates Network, a provider of innovative healthcare workforce solutions, has completed its oversubscribed debt and equity offerings, securing a combined total of $15,625,000 in growth capital. The offerings attracted strong demand from investors, demonstrating confidence in the company’s strategic vision, strong operational performance and growth trajectory. Proceeds will be used primarily to fuel organic growth initiatives, expand service capabilities, geographic reach, and support potential strategic acquisitions. Members of the company’s management team co-invested in the equity round.

“These successful capital raises represent an important milestone for Health Advocates Network,” said Kevin Little, chairman and CEO. “The overwhelming investor interest underscores the deep trust in our mission to build a national platform of best-in-class workforce solutions across the healthcare continuum. With this new capital, we are well-positioned to advance our growth strategy and further strengthen our ability to serve our clients, their patients, and our talented workforce nationwide.”

The company continues to focus on identifying high-quality strategic acquisition targets that complement its core offerings and enhance its ability to serve healthcare organizations and professionals across the United States.

“With this capital, augmented by our senior bank credit facility, we are well-positioned to pursue acquisitions that align with our strategy, strengthen our market position, and create long-term value for our stakeholders,” said Eddie Albert, director of mergers & acquisitions.

Investment Funding

Investors are pouring money into recruiting solutions businesses, especially executive search firms. Here’s a look at some other recent funding deals secured by these companies from the Hunt Scanlon Media archives:

HelloSky (formerly Skyminyr), a talent intelligence platform purpose-built for the executive search industry, has closed a $5.5 million oversubscribed seed round. The raise includes participation from Caldwell Partners, Karmel Capital, True, Hunt Scanlon Ventures and prominent angel investors from Google and Cisco Systems. “As competition for executive talent escalates, organizations will increasingly turn to recruiting partners leveraging AI-driven platforms to gain a strategic edge,” said Scott A. Scanlon, CEO and co-founder of Hunt Scanlon Ventures. “They will lean on recruiters who can tap into precision talent platforms like HelloSky to integrate candidate identification, behavioral analytics, sector mapping, and human capital intelligence all in one place,” he said. “For executive recruiters this means shorter cycle times, more mandates, and unprecedented growth opportunities.” The proceeds of the funding will be invested primarily into engineering and go-to-market efforts. HelloSky has surpassed $1 million in annual recurring revenue (ARR) and expanded its management team to add executives in sales and marketing. Hugh Burnham has joined the company as EVP, sales and marketing, and Mike Kelch has joined as vice president of sales.

ConverzAI, which provides an AI-powered virtual recruiter for recruiting firms, has secured a $16 million Series A funding round to accelerate product innovation and expand go-to-market strategy. The round was led by Menlo Ventures, and joined by Left Lane Capital. Seed investors Foundation Capital and Afore Capital participated in the round as well. “ConverzAI’s solution is in a sweet spot, at the intersection of agentic AI, voice AI and recruiting,” said Venky Ganesan, Partner at Menlo Ventures. “Other platforms have attempted to solve a slice of the recruiting process, but what Ashwarya and his team are doing automates the entire process while still focusing on the candidate. Menlo Ventures is all in on AI and this investment is a perfect embodiment of that.” ConverzAI’s platform deploys virtual recruiters that handle the entire recruitment pipeline—from initial candidate sourcing through final placement—using generative AI technology and agent AI principles. The platform’s virtual recruiters conduct natural conversations over voice, text and email with candidates, analyze responses in real-time, and enable data-driven decisions throughout the recruitment process. They have processed over 100,000 jobs, engaged millions of candidates and delivered tens of thousands of placements for their customers.

Specialist recruitment company Metric Search has secured a multi-million-pound investment from BGF, one of the largest growth capital investors in the U.K. and Ireland. “Metric has achieved remarkable success in a short amount of time, and is well placed to capitalize on the dynamic, growing U.S. recruitment market through its high quality, specialist service,” said BGF investor Adam Huckerby, who will join the Metric board. “This is a great example of how BGF can support ambitious, high performing teams to fulfil their plans. We look forward to working with Joe and the team with the next phase of accelerated growth.” Founded in 2019 by Joe Jani (CEO) in New York, Metric Search has built a reputation as a search partner, sourcing skilled, technical talent in the life sciences and energy/infrastructure sectors. With its headquarters in Nottingham, the firm has offices in New York, London, and Florida.

Related: Bullhorn Ventures Makes Investment in Staffing Engine

Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor  – Hunt Scanlon Media