Inc.

The Carve-Out

He needed capital for some big plans but didn’t want to cede control. That required a different kind of investor.
RON MITCHELL He’d started enough companies to know that he didn’t want to deal with venture capital.

Recruiting software company Virgil was just three years old when founder Ron Mitchell went looking for an acquisition that would allow the business to scale faster. But, like many young firms, the Chicago-based Virgil, which matches workers with employers through testing, lacked capital. He did not lack experience, though, which has plenty of

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