Investment firms inject $2M into Wedge platform

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A group of firms have invested $2 million into the recruiting and screening platform Wedge.

Grand Rapids-based Wedge said last week it raised $2 million in funding from Michigan Capital Network, Michigan Rise and Northgate Holdings, among others.

Additionally, Dale Grogan, managing partner at Michigan Capital Network, and Rocki Howard, chief people and equity officer for The Mom Project, have joined Wedge’s advisory board.

Faced with a growing talent crunch amid the phenomenon known as the Great Resignation, employers have started to reconsider traditional hiring qualification methods, including the resume, Wedge said.

Wedge strives to eliminate stress and friction from the hiring process by giving candidates a platform to tell their stories through a short video screening, the company said.

“The hiring space continues to evolve … quickly,” Howard said. “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.

“Wedge delivers a best-in-class solution, solving a critical problem for employers who are trying to hire qualified employees,” he said. “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.”

Prem Bodagala, director at Michigan Rise and Red Cedar Ventures, said his team is proud to partner with Wedge, not just with this investment from Michigan Rise, but also through programming from its sister Michigan State University subsidiary, Spartan Innovations, which co-manages the Grand Rapids SmartZone.

“Matt and his team are building a world-class, scalable tech company in Grand Rapids, which addresses important future-of-work pain points,” Bodagala said. “We are excited to become part of Wedge’s story and support its mission to disrupt hiring.”

Wedge CEO Matt Baxter said he is gratified that more employers are beginning to realize job candidates are more than their resumes.

“We’re immensely grateful for the participation of Michigan Capital Network, Michigan Rise and Northgate Holdings in this round,” he said. “These investors and the addition of our new advisers, 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.”

More information on Wedge is online.

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