Novo Recruiting, Inc. Raises Additional Angel Capital
Posted on Thu, May 25, 2006
May 25, 2006 (Milwaukee, WI) - Novo Recruiting, the recruiting services firm headquartered in Milwaukee, announced today that it has raised $1,000,000 in venture capital to continue funding its expansion plans.
"With strong offices now operating in Milwaukee, Chicago and Denver, Novo is poised to continue its exciting growth," said Mike Harris, co-founder and CEO of Novo. "I am very pleased to announce that several individuals again decided to back us with capital in our endeavor. The operating results have been there so far and our smart and savvy investors sense a company on the path to success," added Harris. "We are working to open our next office in Minneapolis and this capital allows us to expand locations while supporting and growing our existing offices in the best way possible. We are already one of the fastest growing recruiting firms in the United States and we plan to keep it that way," said Harris.
Harris is no stranger to start-up companies. Novo Recruiting is his fourth professional services start-up in the Milwaukee marketplace since 1995. His most well known start up is Jefferson Wells, which was sold to Manpower in 2001. He also started and sold Capital H and co-founded SilverTrain, where he continues to serve as Chairman. Harris adds Novo Recruiting to his list of professional services firms who have launched their national operations in Milwaukee.
Like they have in the past, Harris and his co-founder Cindy Lu turned to individual investors ("angels") to capitalize the company. "We have proven that new offices can grow quickly and be profitable and we have an impressive client list. Most of the investors in this round are existing investors and that demonstrates their belief in the Novo operating model," said Lu. Novo is a good story for Wisconsin entrepreneurs as 90% of the angels in this round of financing are residents of Wisconsin. "We have shown with Novo that if you prepare a professional investment offering, tell your story with passion and confidence and then back it up with results, you can get growth capital in Wisconsin," added Harris.
Novo Recruiting provides a range of recruiting solutions that help companies find and hire the best talent. The firm provides executive and management searches, interim recruiting support, special recruiting projects, complete or partial recruiting outsourcing and consulting and training to improve recruiting results. For all of its service offerings, Novo offers affordable rates with flexible and fair terms of engagement and is available on either a fee basis or by the hour. The firm currently maintains offices in Milwaukee, Chicago and Denver and serves clients nationwide. Novo's corporate headquarters is located at 330 E. Kilbourn Ave. in Milwaukee and can be reached at (414) 727-8755. More details on the firm are available at www.novorecruiting.com.