MATCHR

How Two Founders Built MatcHR From Ukraine to Global Reach

Monthly Revenue

$70K

Founders

Employees

7 (est.)

Profitable

Yes

Year Started

2018

Customer

B2B

Founders

Employees

7 (est.)

Profitable

Yes

Year Started

2018

Customer

B2B

Who is Adriaan Kolff?

Adriaan Kolff, co-founder and CEO of MatcHR, is a Dutch entrepreneur with a background in finance from working at Unilever. He transitioned to the recruitment industry after partnering at a recruitment agency in Amsterdam. Maarten van der Kwaak, also a co-founder of MatcHR, is a serial entrepreneur who began his first recruitment business while studying law and later balanced it with a consulting career. Both founders combined their diverse experiences to establish MatcHR, focusing on innovative recruitment solutions.

What problem does MATCHR solve?

MATCHR simplifies recruitment for growing tech companies by offering dedicated remote recruiters on a subscription model, reducing reliance on expensive agencies.

How did Adriaan come up with the idea for MATCHR?

Adriaan found himself frustrated while working in the recruitment agency industry, especially when he saw startups struggling to scale their internal recruitment without incurring high costs. As both an agency owner and an investor, he noticed the transactional nature of the agency model and felt it didn’t build lasting partnerships. This sparked his idea for MATCHR, offering recruitment support on a subscription-based model, allowing for a more continuous and cost-effective solution for companies.

He regularly discussed business ideas with his friend Maarten over burgers, and upon sharing his vision for MATCHR, Maarten immediately saw the potential and value it could offer his own recruitment firm. They realized their skills complemented each other perfectly, paving the way for a successful partnership.

Together, they researched viable locations and, after deciding on Ukraine due to its favorable conditions, Adriaan moved there in 2018 to set things up. This careful preparation and a strong foundational partnership helped them refine their idea into what MATCHR is today.

How did Adriaan build the initial version of MATCHR?

Building MATCHR involved a strategic development process heavily focused on leveraging remote recruitment services to compete with traditional expensive agencies. The founders, Adriaan and Maarten, initially set up the company in Kyiv, Ukraine, due to the high availability of skilled professionals at competitive rates which matched their business model's needs for offering economical yet high-quality services.

They utilized a tech stack that enabled remote operations, allowing the service to transition smoothly during the COVID-19 pandemic to hire globally and operate fully remotely. The first prototype was akin to offering dedicated recruitment support on a subscription basis, where they focused on building a small team and iterating their service model based on client feedback, particularly focusing on venture-backed tech companies.

The product development journey faced several challenges, including having to adapt swiftly to remote work due to the pandemic and ensuring high-quality service despite the reduced visibility of recruiters to clients, a significant initial hurdle that was later alleviated as remote work became more normalized.

What was the growth strategy for MATCHR and how did they scale?

Referral Program

MATCHR implemented a referral program that effectively leveraged word-of-mouth marketing. By incentivizing existing customers to refer new clients, MATCHR was able to expand its client base substantially. The referral system created a trustworthy flow of new clients, as people tend to trust recommendations from those they know.

Why it worked: The referral program tapped into personal networks, often considered a reliable source of new business. By building incentives for referrals, MATCHR encouraged users to share their positive experiences, resulting in a steady increase in new clients derived organically from trusted sources.

Networking and Events

MATCHR placed a strong emphasis on networking and hosting events to build relationships with key decision-makers. They organized events like meetups and invite-only leadership gatherings to connect with recruitment leaders and other potential clients. These events were designed to foster meaningful interactions and establish MATCHR as a trusted player in their industry.

Why it worked: Hosting strategic events allowed MATCHR to create personal connections with industry leaders, which proved invaluable when these companies needed recruitment services. Having direct relationships meant MATCHR was top-of-mind when new opportunities emerged, bypassing generic outreach methods like cold calls and emails.

Expansion to Remote Hiring

Initially focused on Ukraine, MATCHR broadened its horizons post-COVID, recognizing the potential of hiring top talent globally. By not limiting themselves to Ukraine, MATCHR was able to access a more diverse pool of talent, making their service more appealing to a global client base.

Why it worked: Remote hiring allowed MATCHR to provide high-quality recruitment services across different geographies without the constraints of a physical location. This flexibility was attractive to companies during the pandemic, which saw many businesses shift to remote work, potentially widening MATCHR's client base and increasing customer acquisition.

Partnership and Client Acquisition

MATCHR strategically utilized founder networks and prior industry relationships to acquire initial clients. For example, MATCHR leveraged connections to land Revolut as its first client, which opened doors to other significant clients like Booking.com.

Why it worked: These partnerships and initial connections validated MATCHR's business model and provided credibility. Landing prominent clients early on created a domino effect, attracting more businesses seeking similar recruiting services, helping MATCHR rapidly expand its customer base.

What's the pricing strategy for MATCHR?

MATCHR offers dedicated sourcing and recruitment support on a subscription-based model, with pricing that starts at a fixed fee per recruiter per month, targeting startups and tech companies needing scalable recruitment solutions without hefty agency fees.

What were the biggest lessons learned from building MATCHR?

Embrace Change and Adapt Quickly: MATCHR experienced a dramatic drop in revenue during the COVID-19 pandemic, forcing them to downsize and pivot. They adapted by becoming a fully remote company, allowing them to hire globally and secure new clients like TikTok.
Plan for the Unexpected: The onset of the Ukraine war taught MATCHR the importance of having contingency plans. They learned the hard way to prepare for unlikely but impactful events, which would have eased the transition during the crisis.
Build and Leverage Strong Relationships: Landing initial big-name clients like Revolut and Booking.com was made possible through existing networks and personal connections. This highlights the value of relationship-building in scaling a business.
Stay Resilient Through Tough Times: Despite facing numerous challenges, including a near-bankruptcy experience, MATCHR's founders remained resilient, continuously learning and adapting to new circumstances to keep the business afloat.
Maintain a Clear Company Vision: Throughout various challenges, MATCHR remained focused on providing dedicated sourcing and recruitment support. This mission clarity helped them navigate and overcome significant obstacles in their entrepreneurial journey.

MATCHR Acquisition: How much did MATCHR sell for and what was the acquisition price?

MATCHR was acquired by OutMatch in a strategic transaction that took place in early 2023. The acquisition aimed to expand OutMatch's capabilities in recruitment technology, leveraging MATCHR's innovative subscription-based remote recruiting services.

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