About the Client
TextRecruit is a candidate engagement platform that uses text message, live chat, and artificial intelligence (AI) to help organizations hire better people, faster. TextRecruit has built a rapidly growing business by recognizing today’s candidates prefer to communicate via text message and mobile apps, rather than email. TextRecruit will extend the capabilities of the iCIMS Talent Acquisition Suite with deeper integrations and solutions that will simplify the recruiting process for candidates and recruiters.
About the deal
GP Bullhound acted as the exclusive financial advisor to TextRecruit, a mobile recruiting SaaS platform, on its acquisition by iCIMS, a leading provider of cloud-based talent acquisition solutions. This represents GP Bullhound’s 20th advisory transaction in the software sector in the last 18 months and further underlines the firm’s expertise in advising category leaders in SaaS. Selected previous transactions include TIS (investment from 83North), Bizagi (investment from Invus), Icomera (sold to ENGIE Ineo), Rightware (sold to Thundersoft), Ecovadis (investment from Partech) and Multiposting (sold to SAP), among many others.
Erik Kostelnik, Co-Founder and CEO commented: “The strategic combination between TextRecruit and iCIMS could not be a better fit. We share the same vision for transforming the recruiting technology market. GP Bullhound was tremendous in helping us identify the strategic combination and execute the transaction. We relied on their team’s SaaS expertise and tenacity to help close the transaction seamlessly.”
Jonathan Cantwell, Director at GP Bullhound said: “Having known the co-founders of TextRecruit since the company’s inception, and following their journey, made the transaction particularly significant for us to advise on. TextRecruit has built a unique SaaS platform for corporate recruiters and has experienced unprecedented growth.”