Columbia, S.C. – SC Launch Inc., the investment affiliate of the South Carolina Research Authority, announces that Sprockets is being acquired by Humanly, along with Qualifi and HourWork. The Mt. Pleasant-based company developed an AI-powered hiring tool designed to improve employee retention and reduce turnover. This acquisition will bring together three strong players to create a comprehensive, end-to-end conversational AI hiring platform.
Sprockets became a SCRA Member Company in January of 2017 and received $75,000 grant funding. It became an SC Launch Inc. Portfolio Company in March 2019 when it received a $125,000 investment.
Sprockets is a success story in innovation because its team identified a problem and created a solution. Industries such as restaurants, hospitality, and home health that hire hourly employees often encounter tenuous processes, but Sprockets’ software tools made these processes turn-key. Their solution simplified applicant recruiting, screening, background checks, applicant tracking, hiring, employee engagement, and retention.
SCRA Investment Manager Kevin Eichelberger said, “HR organizations have recognized and recommended Sprockets to employers. Sprockets increased hiring success rates by automatically engaging applicants and determining the ideal fit for specific roles and locations. It also modernized hiring by ensuring employers hire people with the highest likelihood of success, resulting in a high-performance workforce and engaged employees.”
“SCRA was with us from the beginning. They believed in our mission and vision to improve our country’s workforce for both employers and employees. The teams at SCRA and SC Launch Inc. not only provided funding, but they also provided partnership through collaborative discussions and provided advice on how to grow our company,” said Sprockets CEO AJ Richichi.
“We are proud to have partnered with Sprockets and look forward to their continued success under their new brand. We expect greater advancements in the world of hourly workers,” said SC Launch Inc. Executive Director Matt Bell. “Typically, our society relies on hourly workers for our critical service needs.”
This past year, Sprockets formed partnerships with HourWork and Wizardline Technologies to deploy AI tools in post-hire features, such as employee engagement and retention. These solutions enhanced franchisee engagement with their front-line employees, further preparing Sprockets for this acquisition with Humanly.
###
Established in 2006, SC Launch Inc. is the investment affiliate of the South Carolina Research Authority. The independent, nonprofit corporation provides convertible loans and investment funding to qualifying SCRA Member Companies. The returns on this funding provide the resources for additional investments in next-generation technology startups.
Chartered in 1983 by the State of South Carolina as a public, nonprofit corporation, South Carolina Research Authority fuels the state’s innovation economy through the impact of its comprehensive services to technology-based startups, academia, and industry. SCRA provides funding and support to accelerate the growth of academic startups; high-quality lab and administrative workspaces; facilitation and funding for partnerships between and among industry, startups, and academic institutions; assistance and funding for the relocation of technology-based companies to South Carolina; and coaching and funding for startups that may also receive investments from its affiliate, SC Launch Inc.
Media Contact
Adrianne Grimes
SCRA Director of Marketing and Communications
