VRA Advises Hirebotics on its Recapitalization with Sverica Capital Management

VRA is pleased to announce that Hirebotics (the "Company") has completed a majority recapitalization with Sverica Capital Management ("Sverica"). VRA acted as the exclusive financial advisor to Hirebotics. Terms of the transaction were not disclosed.

"We were beyond thrilled with the outcome VRA helped us achieve," said Hirebotics' Co-Founder and CEO, Rob Goldiez. "VRA invested the time to fully understand our business and our goals. They designed and executed a well-run process to help us find the right partner for the business, and they were always committed to achieving a successful outcome. Our entire team is excited to continue growing the business with our new partner."

Hirebotics is an innovative, high-growth industrial automation company that created and sells a first-of-its-kind collaborative robot solution designed specifically for welding applications. The Company's revolutionary products combine premium welding equipment with an easy-to-use, internally developed cloud software platform called Beacon that helps maximize production performance, system monitoring, technical support and data analytics. As the deficit of qualified welding labor grows, Hirebotics empowers an organization's existing workforce and makes it easier and more affordable for businesses to automate their welding workflow via collaborative robots and improve their competitiveness through technology.

Hirebotics and Sverica will work together to execute a growth strategy focused on further penetrating all sales and marketing channels for its current Cobot Welder product, expanding into additional tool-in-hand applications, and developing recurring revenue opportunities through enhanced software subscriptions and a robot-as-a-service offering. "Hirebotics is well-positioned with a differentiated offering to take advantage of a market that is only beginning to recognize the value of cobots," said Sverica Managing Partner, Dave Finley. "Sverica's "Business-Builder" approach to growing lower-middle market companies is a great fit for Rob Goldiez and the Hirebotics team."

"We could not be more excited for Rob and the team at Hirebotics about their partnership with Sverica," said VRA Director, Thomas Jordan. "When we first met with Hirebotics, it was clear the business was at an inflection-point moment in the Company's history and that it would be critical to identify the right type of partner to support Hirebotics through its next stage of growth. We are very appreciative of the trust Rob placed in VRA to guide him and the Company through such an important process. Sverica will be a great partner for the Hirebotics team, and we are excited to see what they accomplish together."