AI-powered recruiting platform TextRecruit acquired
AI-powered mobile recruiting platform TextRecruit has been acquired by iCIMS.
The SaaS solution is a candidate engagement platform that claims to use text message, live chat and artificial intelligence to help organisations hire relevant staff quickly.
It has built a rapidly growing business by recognising today’s candidates prefer to communicate via text message and mobile apps rather than email.
GP Bullhound acted as the exclusive financial advisor to TextRecruit on its acquisition by iCIMS, a leading provider of cloud-based talent acquisition solutions.
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.
TextRecruit co-founder and CEO Erik Kostelnik said: “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.”