Phoenix Recruitment announces financing of €1 million

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Phoenix Recruitment announced a €1 million seed round, although the identity of the investors was not disclosed.

The recruitment agency has offices in Limerick, Dublin and London, and the company said the funding will help with plans to expand into the US and further growth in the UK and Ireland this year.

Phoenix says it caters to Irish businesses such as Wayflyer looking to expand into the US, but also the UK and across Europe. The company plans to establish its first US office in New York later this year.

The agency said it currently has 40 employees and plans to increase its workforce to 60 people by the end of 2022. The company said it is currently looking to hire experienced recruitment professionals in the fields of technology, financial services and professional services.

Founded by Ed Rossiter in 2018, the other shareholder directors of Phoenix Recruitment are Ruth Lyndon and John Mahony.

Operating company Talent IQ Ltd recorded a net profit of €214,000 in 2020, with end-of-period receivables increasing from €69,000 to €331,000 year-on-year.

According to Rossiter (pictured): “Since founding Phoenix in 2018, we have continuously evolved during the pandemic and we look forward to continuing that growth, both domestically and internationally.

“Currently we have our Dublin office, which we established in 2018 when our company was founded, and we have since opened spaces in Limerick and London. We have grown from a team of two to 40 over the past three years and this is due to the strength of our professional backgrounds, our client relationships and our vision to create a leading global recruitment brand whose headquarters are in Ireland. »

Rossiter added that the company has assembled a board of advisors that includes Philippe Gardinerdirector of Foresight, and Gilles Daubeneythe former assistant general manager of Robert Walters.

Giles Daubeney commented: “Having accumulated vast experience in transforming Robert Walters from a one-site business into a plc with 57 offices worldwide in 31 countries and 4,000 employees, I believe Phoenix can achieve similar success to the over the next few years.”

Ruth Lyndon said, “Giles and Philp both have impressive experience and expertise that will be invaluable as Phoenix continues to expand. I look forward to working with both people and seeing what the future holds for Phoenix.

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