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Scout Exchange raises $100 million from Aquent founder’s investment firm; Paro announces funding round; AHSA rebrands VMS; and more in tech roundup

March 12, 2018

In some of the latest tech news: Scout Exchange, a platform to connect companies with search firms, received $100 million from Aquent founder’s investment vehicle. Paro, an online staffing platform for finance/accounting workers, announced a series A funding round. Separately, AHSA announces new brand for its VMS.

Here’s more on the technology front:

Scout Exchange’s $100 million funding round

Scout Exchange, a platform to connect companies and search firms, today announced it has received $100 million in funding from TRI Ventures, the investment vehicle of John Chuang.

Chuang is the founder and chairman of Boston-based Aquent, which Staffing Industry Analysts ranks as the largest marketing/creative staffing firm in the US. He was also an early investor in home review marketplace Angie’s List.

“Talent acquisition is more imperative for today’s businesses than ever before,” Chuang said. “While technology has streamlined many HR processes, corporate recruiting is still more difficult and time consuming than it should be, presenting real opportunity to disrupt the $500 billion global recruiting market. By combining intelligent software with the proven efficiencies from B2B marketplaces, Scout is pushing the limits of what’s possible to create a new category of recruiting that’s much more efficient and effective than traditional approaches.”

Boston-based Scout will use the funding to accelerate the growth of its marketplace.

Online staffing platform Paro announces $5 million funding round

Paro, an online staffing platform for finance/accounting professionals, announced a $5 million Series A funding round in a blog post on Monday.

One difference between Chicago-based Paro and other online staffing providers is that Paro uses matching algorithms to help bring “income predictability” to its accounting/finance freelancers. The platform is also highly curated, and only 2% of applicants are accepted.

“Our mission first and foremost is to empower people to do what they love,” said Michael Burdick, co-founder and CEO of Paro. “We’re doing so by providing the finance experts in our network with a consistent pipeline of projects aligned with their skills, industry experience and interests through our matchmaking algorithms. Freelancers get more of the work they want and in parallel, clients get the exact skills and expertise they need when they need it and for a fraction of the cost of a full-time hire.”

The company was founded in 2015 by Burdick and Dan Wywrot. The funding round was led by Revolution Ventures with participation from Global Founders Capital and Tom Williams.

Paro provides freelance bookkeepers, accountants, financial analysts and CFOs on a virtual, on-demand hourly basis to companies that range in size from growth-stage startups to enterprise businesses.

“Paro’s vision is much bigger than a managed marketplace,” said Eddie Lou, co-founder of just-in-time staffing platform Shiftgig and Paro board director. “It’s not just about turning accounting on its head for the benefit of the businesses who need accounting support; it’s about creating new opportunities for finance and accounting talent to collaborate with each other, to work on their terms, to reap more of the financial benefits, and grow their own businesses.”

AHSA announces new brand for its VMS

Trio is the new brand name for AHSA’s vendor management system focused on healthcare. AHSA also announced a redesign of the VMS, intended to improve the workflow and transparent reporting visibility as well as locum tenens staffing capability.

“Trio, our new VMS brand name, reflects our continued focus in bringing together the three key elements of our workforce solution: Clients, staffing agencies and AHSA,” said AHSA President Tim Cerny.

Human cloud, ride-sharing firm Fasten freezes US operations

Human cloud, ride-sharing firm Fasten announced March 3 in a blog post that it is shutting down operations in Austin, Texas, and Boston. It also reported that it has agreed to be acquired by Vezet Group, which will use Fasten’s technology and brand to grow its business in other parts of the world.

The post was signed by co-founders Kirill Evdakov, Vlad Christoff and Roman Levitskiy.

Fasten was a ride-sharing service that helped fill a gap in Austin when Uber and Lyft temporarily left the market.

New online staffing app takes aim at teens

A new app called Skratch connects teens with jobs, CBS News reported. It aims to work with teens who don’t have time for a steady job because of school and extracurricular activities.


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