Wedge, a video recruiting and screening platform for employers, recently completed a $2 million capital raise via the sale of convertible promissory notes. The investment came from a variety of venture capital organizations including Michigan Capital Network, Michigan Rise and Northgate Holdings.
Based in West Michigan, Wedge is designed to bring efficiency to the hiring process by giving candidates a platform to tell their stories through a short video screening and allowing employers to review candidates on their own time. The business, which blossomed during the pandemic when in person meetings were curtailed, continues to see strong growth as employers seek efficiency in filling positions in the current talent crunch.
Varnum represented Wedge in connection with the capital raise. Corporate partner Jake Droppers drafted and negotiated all documents and coordinated relevant securities-related findings. Varnum has been working with Wedge since 2016 when the company was in the startup stage and came to the firm as a client in the MiSpringboard program.
“Wedge is remarkably excited to announce our latest founding round with multiple Michigan angel investors, national angel investors and Michigan institutional investors,” said Wedge founder and CEO, Matt Baxter. “Throughout the multiple years of working with Jake, he has been an invaluable asset, a strong partner, and an amazing resource both for the business and for myself as a CEO of a growing startup. I can’t recommend both Jake and the rest of the Varnum organization enough.”