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Skillit Raises Additional $8.5M

NEW YORK, NY, Skillit, the data-driven recruiting platform for skilled, full-time construction labor, today announced $8.5 million in additional funding.
The round was co-led by MetaProp and Bow Capital with participation from existing investor Building Ventures. Since announcing its seed round in January 2023 Skillit has been adopted by top ENR contractors that are using self-perform to better control project lifecycle and long-term profitability with in-house skilled workers. Skillit taxonomizes and assesses everything from skills and experience to professional goals and preferences in order to generate data-rich worker profiles that make it easy to identify, hire and retain the best talent. This data-driven approach has already resulted in materially more interview requests, offer acceptance rates that are 1.7x the industry average and retention rates that are nearly double. This latest funding brings Skillit's total funding to $13.6M and will be used to accelerate expansion of Skillit's Trade-Region Pairs (TRPs) as demand grows nationwide for every trade from carpenters to electricians and heavy equipment operators to welders.

Skillit is the first recruiting platform purpose-built for construction that uses data to solve the industry's biggest problem - the shortage of skilled labor. The company is on a mission to solve the skilled labor crisis by delivering technology and data solutions that meet the needs of both skilled workers and construction companies alike. Founded by an entrepreneur with personal experience as a General Contractor and Carpenter, Skillit connects the supply of skilled workers with contractor demand in the $1.7T annual construction industry. An end-to-end purpose-platform providing visibility into the full employee lifecycle, Skillit improves recruitment (supply and hiring process) and retention outcomes for the world's leading ENR contractors. Founded in 2021 and backed by venture capitalists, including Building Ventures, MetaProp, Bow Capital and HOLT Ventures, Skillit is delivering meaningful improvements to key metrics for hiring managers, including percent of offers accepted and time to hire.
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