Talent acquisition consultancy wins £3.45m BGF backing
Elements Talent Solutions, a disruptor to the $200+ bn worldwide recruitment market, has received £3.45m investment from BGF (Business Growth Fund).
The company will use the funds to accelerate its growth across Europe, the US and the APAC region.
While recent years have seen no shortage of technological innovation in the hiring market, Elements has pioneered a model which focuses on people and seeks to change the fundamental 'transaction' mechanics of the industry.
Its embedded model involves Elements consultants working on-site alongside clients' exisiting recruitment model and partnering with them on every stage of the hiring process.
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Elements has attracted clients from global brands such as Spotify, iZettle, GoCardless, Just Eat and King.com, the company behind the game Candy Crush.
Supported by its growing, globally recognised brand and loyal client base, the business has grown its headcount from three to 90 and increased revenues tenfold in the last three years.
While Elements’ growth to date has largely been driven by partnerships with high-growth technology companies, the business now works with companies of all sizes and across a broad range of sectors with a growing number of opportunities in the US and Asia-Pacific regions.
The investment from BGF will fund new offices in US and Europe and double headcount over the next 12 months.
“We’re very aware of the ambitious nature of what we’re trying to achieve here,” said Elements CEO Daniel Goldstein.
“For as long as I can remember, the recruitment industry has been characterised by poor professional standards and a consequent lack of trust and respect from clients.
“Our embedded model seeks to subvert that dynamic completely. By investing heavily in the training of our people, we create talent acquisition professionals who are experts in their domain.
“The result is genuine partnerships with our clients, where the ‘us’ and ‘them’ divisions of traditional recruitment are replaced by a united team laser-focused on delivering the best possible result for the hiring company.
“Our ultimate vision is to change the perception of this industry, so that Talent Acquisition experts are viewed in the same way as lawyers, accountants or consultants from the Big Four.
“BGF was the stand-out option when we decided to look for investment for a number of reasons - not least their own clear preference for working in a spirit of true partnership.
“We can’t wait to collaborate with them to bring the embedded model to new sectors and geographies in the coming months and years.”
Rahul Satsangi, BGF, said: “Fuelled by an ambitious management team, Elements has disrupted the traditional talent acquisition model and successfully supported its clients in recruiting at scale.
“Access to the best-in-class talent can be a significant barrier to growth for ambitious companies all over the world.
“The demand for Elements’ offering is only going to increase and we are pleased to partner with Dan and his team as they expand their global reach and broaden their sector focus.”
The investment was led for BGF by Rahul Satsangi, Michael Bacon and Chris Jones.
Malcolm McDougall (Charles Russell Speechlys), Terry Heatley (Grant Thornton) and Chris Smith (FDD) advised BGF while Anthony Gahan (Wyvern Partners) and Karma Samdup (MJ Hudson) acted for Elements.