July 13, 2022 – London-headquartered executive search firm TritonExec has received a $30 million investment from the talent solutions division of Prytek, a Singaporean multinational technology corporation. “Our investment in TritonExec is a completion of the value chain, from executive search at board and C-suite, to building out leadership teams two and three levels below; we provide the entire solution on a platform for companies and hyper-scalers,” said Andrey Yashunsky, founder and CEO of Prytek. “Powered by technology, we can provide data products, SaaS, and a licensed platform empowering our clients to do it themselves, improving the efficiency of their own internal talent acquisition teams.”
Specializing in leadership hiring for professional, tech services, and fintech, TritonExec will bolster Prytek’s HR technology services portfolio, and further its mission of building a tech-enabled talent solutions ecosystem. This follows a recent investment into Chicago-based talent acquisition provider Hirewell, which uses embedded technology to provide a faster, more efficient client and candidate experience.
TritonExec pioneered “Exec RPO-as-a-Service” for corporations looking to scale at pace. The company will create synergies with Hirewell, offering an end-to-end solution powered by technology to clients globally. According to Prytek, the combination of TritonExec’s C-level network, and Hirewell’s embedded technology with the experience of a combined 250 recruiters spanning the globe creates a partnership that will enable both organizations to help clients scale faster.
TritonExec, which already had presence in Europe and the U.S., has recently expanded its global reach to India, Philippines, Japan, and Australia, and continues to grow through an approach of hiring leaders and building out teams.
“We are thrilled by the services and cultural alignment between our two organizations,” said Matt Massucci, founder and CEO of Hirewell. “Both organizations are hyper-focused on helping clients hire top talent. We both recognize that our employees are vital to our continued success and are excited to disrupt the talent solutions industry through our combined services, technology, and the capital to scale from Prytek.”
Hirewell, a Chicago-based talent acquisition firm, secured an investment of $21 million from Prytek, a global investment firm with expertise in integrating global services firms with cutting-edge technologies. Prytek will provide capital to enable Hirewell to accelerate its organic growth and integrate technology into its managed recruiting services. As part of this investment, Hirewell will acquire ICV, a Tel Aviv-based software company.
“The talent acquisition space has evolved significantly over the past ten years, but technology has yet to truly disrupt the industry,” said Matt Massucci, founder and CEO of Hirewell. “Recruiters increasingly rely on multiple platforms, most of which don’t integrate or have limited functionality, and some of which actually compete with the recruiters they claim to support. The ability to combine best-in-class recruiters with cutting-edge technology will equip us to be the ideal recruiting partner for companies that are serious about finding top talent. We are thrilled to partner with Prytek to take that step and continue delivering powerful results to our clients.”
TritonExec co-founders Ben Graham and Jonathan Morris said: “Prytek buy and invest in technology companies in fintech and edtech, two core areas we heavily recruit in, as well as HRtech, which will enable us to improve the quality and impact we can have to our clients. Not only does this partnership make sense from an investment and growth perspective, but our understanding of the world and customers are very aligned.”
“From the moment we met Andrey, his passion for technology and ambition matched ours. He and his team empower the leaders they invest in to support their growth,” they said. “We look forward to creating end-to-end solutions for our customers through synergies and partnerships across the group.”
Founded in 2011 and headquartered in London, TritonExec has carved a niche in a highly competitive sector. The firm embraces technology to predict and uncover subtle trends in compensation, diversity, and talent shortages, as well as helping to determine which candidates are most likely to be successful in a certain organizations. Predictive hiring is said to be the next big focus – and opportunity – for executive search and leadership consulting firms, according to recent intelligence reports from Hunt Scanlon Media, and a number of these outfits are investing heavily in technology to support those initiatives.
Professional services firms – and executive recruiting outfits in particular – have a long history of finding their way through tough times. Many search firms have used this time to dust off their own continuity and succession plans, or to reconsider that merger or acquisition which was something of a nuisance when times were flush. Others have taken a hard look at their capitalization strategies. This crisis, like no other, has driven many of the most well-known and respected brands in the recruiting business to reassess everything about their businesses, top to bottom.
Behind the scenes, this has been an active year for executive recruitment firms. To meet their advisory needs, Hunt Scanlon Media earlier this year launched a new set of solutions to assist search firms and talent solutions providers seeking mergers, acquisitions, or funding connections. Founders Scott A. Scanlon and Christopher W. Hunt sit down to discuss the new venture and the state of the industry.
With a growing team of 40-plus staff members, more than half of TritonExec’s workforce is gender diverse. That demographic should make it appealing to clients looking to broaden their own professional ranks, from entry level to the C-suite and boardrooms – where diversity problems continue to persist. The firm maintains offices in London, Atlanta, and most recently, New York. Its placements are global, though a majority, 60 percent, have been made in the U.K. and U.S., followed by the rest of Europe and the Nordics (35 percent) and Asia (five percent). Over the last eight years, TritonExec has assisted companies in the recruitment of candidates worldwide. The firm’s clients include Capgemini, Accenture, Deloitte, Icahn Enterprises, Gryphon Investors, and its first customer, Genpact.
In June, TritonExec opened an office in Miami, which will now be the firm’s U.S. headquarters. The office is led by partner Natalie Zingo. “We are very pleased that Natalie will lead our U.S. operations from Miami,” said Mr. Morris. “Natalie and our team bring an impressive track record in C-suite and multi-hire programs across our technology and professional services practices. Miami has become a major center of commerce, finance and technology, and boasts a strong international business community.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media