On-demand video interview platform Wedge secures $2M in funding to meet hiring needs as employers move beyond resumes
As millions of people around world hope to put the pandemic behind them, companies on the hand continue to face the challenge of finding the right employees. As we reported late last year, The Great Resignation has caused millions of workers to quitting their jobs.
The problem is that many of these employers are still stuck in the old way finding the right candidates through the use resume search. However, as any hiring manager would tell you, resume is not the most effective way to find the best candidate and never will be. Instead, some companies are turning to phone screening as a way to weed out unqualified candidates. Unfortunately, phone screening is also not a silver bullet. To solve this problem, many employers are now turning to on-demand video interview.
Enter Wedge, a Grand Rapids, Michigan-based tech startup and recruiting platform that creates one-way video interviewing for employers and recruiters. Wedge’s video interviews take the scheduling hassle out of recruiting by allowing job candidates to record their interview on their time. Recruiters and employers can then review the recorded video interview at their own schedule.
Today, Wedge announced it has raised$2 million in funding, which includes participation from Michigan Capital Network, Michigan Rise and Northgate Holdings amongst others. In addition, Dale Grogan, Managing Partner at Michigan Capital Network, and Rocki Howard, Chief People and Equity Officer for The Mom Project, join Wedge’s Advisory Board.
Founded by Matt Baxter, Wedge is the video screening solution that helps companies make authentic connections with candidates – anytime, anywhere, any device. With custom interview options, world-class support and simple pricing combined with leading ATS integrations, Wedge serves as a stress-free filter to identify top talent.
Interest and investment in the HR technology space have soared in the past year as employers felt the direct impact of the Great Resignation. The economic trend, underscored by a Korn Ferry study that found “the United States faces one of the most alarming talent crunches of any country,” has forced companies to rethink a talent model built on decades-old institutions and practices. As such, many progressive employers have started to reconsider traditional qualification methods, including the resume, which is where Wedge comes in.
Built for the demands of modern recruiting, Wedge removes stress and friction from the hiring process and promotes authentic connections between candidates and recruiters. By giving candidates a platform to tell their stories, resumes become obsolete, as each individual explains their background and experience through a short video screen. Wedge customers are able to get to know candidates faster and speed up hiring decisions.
Howard commented, “The hiring space continues to evolve, and evolve quickly. Employers are looking for efficient ways to connect with candidates without bias, knowing that every hire impacts the success of their teams and, ultimately, their organizations. To create more equitable workplaces, we need to allow job seekers to tell their stories, and Wedge does just that. It’s exciting to be on this journey with them.”
Paul D’Amato, CEO and Managing Director of Michigan Capital Network, concurred with Howard and shared, “Wedge delivers a best-in-class solution, solving a critical problem for employers who are trying to hire qualified employees. We’re pleased to have an innovative, Michigan-based company like Wedge as our first investment of 2022. Wedge CEO Matt Baxter and his team represent everything we look for in an investment.”
“It’s always been Wedge’s take that no candidate is just their resume, and we see more companies starting to realize that,” said Wedge CEO Matt Baxter. “We’re immensely grateful for the participation of Michigan Capital Network, Michigan Rise and Northgate Holdings in this round. These investors and the addition of our new advisors, Dale and Rocki, provide the experience, connection and perspective that companies like Wedge need as we scale. With their support, we’re going to continue the Wedge’s mission by introducing new product offerings, expanding our partnerships and changing the way hiring happens.”