February 24, 2022 – 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 startups that uniquely address these challenges and others, helping firms navigate and grow in the current environment.”
Bullhorn Ventures will build relationships with early-stage companies via investment as well as by offering expertise and insights through Bullhorn’s partnership programs, which are designed to help companies serve Bullhorn customers’ needs. Bullhorn has directly acquired several ecosystem participants, and these investments return consistently strong performance. Past acquisitions of ecosystem partners include PeopleNet (time capture), Herefish (automation and candidate engagement), Sirenum (workforce management), and Cube19 (analytics). “Expanding to be able to invest in early-stage companies is a natural evolution of Bullhorn’s M&A strategy, which has always been focused on providing customers additional capability and choice,” the company said.
“The pace of innovation within staffing and recruitment is always accelerating, and we’re excited to be investing in the technology to help our customers put the world to work, especially during these times,” said Art Papas, CEO of Bullhorn. “Forming Bullhorn Ventures will build on our successful track record of scaling innovation and advancing the staffing and recruitment industry.”
“We have deep experience investing in innovation,” said Nina Eigerman, senior vice president of alliances & business development at Bullhorn. “We will build on this experience by providing capital to our venture portfolio companies and helping them scale more rapidly through commercial relationships with our global teams. This is an exciting opportunity to accelerate innovation and effectively bring new solutions to the staffing and recruitment space.”
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.
“We’re excited to continue to enhance our capabilities in delivering an incredible candidate experience with the acquisition of Able,” said Matt Fischer, president and COO of Bullhorn. “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.”
Hunt Scanlon Media Launches M&A Advisory Service for Recruiters
These have been sobering days for executive recruiting firms around the globe. Most of them, regardless of size, location, or specialization were caught flat-footed by one of the most sweeping economic crises to ever hit the sector this past year. As a result, the nation’s top search consultants have been resetting expectations and, in the process, setting a new course for 2021.
Professional services firms – and executive recruiting outfits in particular – have a long history of finding their way through tough times. The COVID-19 pandemic is no exception. Many search firms have used this time to dust off their own continuity and succession plans, or to reconsider that merger or acquisition which was something of a nuisance when times were flush. Others have taken a hard look at their capitalization strategies. This crisis, like no other, has driven many of the most well-known and respected brands in the recruiting business to reassess everything about their businesses, top to bottom.
Behind the scenes, this has been an active period for executive recruitment firms. To meet their advisory needs, Hunt Scanlon Media last year launched a new set of solutions to assist search firms and talent solutions providers seeking mergers, acquisitions, or funding connections. Founders Scott A. Scanlon and Christopher W. Hunt sit down to discuss Hunt Scanlon Ventures and the state of the executive search industry.
“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 Gerald Hetrick, CEO of Able. “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