July 21, 2022 – Recruiting software provider Bullhorn has acquired SourceBreaker, a London-based Al-driven search-and-match platform. Financial terms of the deal were not disclosed. Bullhorn said that the acquisition will further enhance Bullhorn’s portfolio of solutions for talent engagement across the entire candidate lifecycle, from sourcing to engagement, onboarding, and redeployment. “We believe the addition of SourceBreaker’s solutions to our portfolio will help staffing firms meet this challenge head-on by increasing recruiters’ productivity and ultimately boosting their fill rates,” said Matt Fischer, president and COO of Bullhorn. “As a successful Marketplace partner, SourceBreaker already serves hundreds of Bullhorn customers, and we look forward to bringing their solutions to even more of our customers.”
“We created SourceBreaker to change the way recruiters search,” said Steve Beckitt, founder and CEO of SourceBreaker. “Now more than ever, our products can help expand the pool of talent and identify better matches between candidates and jobs. We’re incredibly excited to expand our reach by joining forces with Bullhorn, and we’re all looking forward to joining the team.”
The SourceBreaker senior leadership team, including Steve Beckitt and Adam Dale, will remain with the company, and SourceBreaker will continue to serve customers who use CRM and ATS solutions other than Bullhorn.
The talent shortage is the top challenge facing global recruitment industry professionals in 2022, according to half of the 4,000 professionals surveyed in Bullhorn’s “GRID 2022: Recruitment Trends Report.” Consequently, candidate acquisition was named as the top priority by survey respondents, and a quarter of respondents indicated that sourcing candidates is their top recruitment challenge.
SourceBreaker has helped customers increase revenue and find scarce talent by improving the efficiency and productivity of their recruitment and business development professionals. SourceBreaker enables recruiters to create expanded search queries across internal and external databases to identify candidates who match the jobs they’re trying to fill.
As one example, Bullhorn and SourceBreaker customer Harvey Nash increased placements and revenue generated per recruiter by using SourceBreaker to search for candidates across multiple sources at a time and doubling the number of relevant candidates shown. “Using SourceBreaker allows our recruiters to spend more time building personal relationships with candidates and less time searching online for profiles,” said Andy Heyes, managing director at Harvey Nash.
Bullhorn recently acquired Able, a longstanding Bullhorn Marketplace partner and the provider of candidate engagement and onboarding solutions. The combination of Able’s candidate engagement and onboarding solutions with Bullhorn enables agencies to efficiently meet complex onboarding requirements, reduce candidate drop-out, and get candidates on assignment faster, while delivering a candidate onboarding experience, said the firm.
“We’re excited to continue to enhance our capabilities in delivering an incredible candidate experience with the acquisition of Able,” said Mr. Fischer. “The product is tightly integrated with Bullhorn, and we have close to 100 joint customers. Already, we’re improving the way we put the world to work every day through a better talent experience, and we will further this investment with the addition of both Gerald Hetrick, CEO of Able, and Dustin Brewer, chief product officer, who will join our leadership team focused specifically on this mission.”
Bullhorn, a provider of software to recruiting firms, has launched Bullhorn Ventures, a dedicated corporate venture capital resource that will invest in and partner with high-potential, early-stage companies focused on helping staffing and recruiting firms improve operational efficiency and boost top-line growth. Bullhorn Ventures will launch initially with $20 million allocated for investments.
The recruiting industry is going through unprecedented change as employment bounces back from lows during the pandemic. Search firms are challenged by the growth of online talent platforms, rising expectations from talent set by the consumer digital experience, and market growth, which has put a premium on talent acquisition. “Bullhorn has long been a technology innovator for the staffing industry and will continue to advance and innovate on the Bullhorn platform to help customers solve their most pressing challenges,” the company said. “In addition, Bullhorn Ventures will look to invest in start-ups that uniquely address these challenges and others, helping firms navigate and grow in the current environment.”
“Since the very beginning, we have pioneered the way in making sure that every employee has a seamless experience starting a new job. We’re thrilled to be joining the Bullhorn team with whom we’ve worked for many years, have shared values in delivering an excellent customer experience and see enormous opportunity for growth globally,” said Mr. Hetrick. “As companies face increased demand from the strong job market, our joint solution will help our customers deliver a more scalable onboarding experience, improving fill rates and increasing talent loyalty.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; and Stephen Sawicki, Managing Editor – Hunt Scanlon Media