Sprockets Acquires HourWork
August 14, 2024 – Sprockets, an AI-powered solution that helps businesses source, screen, and hire quality workers, has acquired HourWork, an AI-powered platform that focuses on post-hire engagement and increased retention. Financial terms of the deal were not disclosed. This strategic acquisition allows Sprockets to expand its product suite, offering businesses staffing services that cover every stage of the hiring process, from recruitment and screening to post-hire employee engagement and exit interviews.
Since its inception in 2016, Sprockets has had the mission of transforming the world of hourly work by matching millions of job seekers to opportunities where they’re most likely to succeed. “The addition of HourWork’s assets, with its goal of building an hourly workspace that works for everyone, perfectly aligns with Sprockets’ values,” the company said. “This move enables Sprockets to accelerate its growth and continue enhancing the hourly workforce experience while improving employers’ bottom lines.”
“As a market leader, we’re constantly looking to innovate and expand our offerings to better serve both workers and businesses,” said AJ Richichi, CEO and founder of Sprockets. “HourWork’s dedication to transforming hourly work is a natural fit with our commitment to helping businesses hire and retain the best employees. They’ve built a phenomenal product that pairs well with the Sprockets platform to ensure that every worker has access to fulfilling job opportunities and that every business remains fully staffed with engaged, productive employees.”
Recent M&A Activity
Acquisitions and consolidations continue to make news in the recruiting industry, with a number of notable purchases in recent months. And it’s not just executive search firms. Technology-based outfits have also been in on the action. Here is a sampling from the Hunt Scanlon Media archives:
Randstad N.V. has announced that Randstad Digital has acquired Torc, a next-generation AI-powered talent marketplace platform with more than 25,000 digital talent enrolled worldwide, with a specific current emphasis on LATAM, the U.S., and India. Financial terms of the deal were not disclosed. This acquisition allows Randstad Digital to further accelerate clients’ access to digital talent, including global delivery centers, to meet its digital ambitions across cloud, data, digital engineering, and customer experience capabilities. “The Torc acquisition strengthens Randstad’s partner for talent strategy in our digital specialization,” said Sander van’ t Noordende, CEO of Randstad. “Digital transformation needs access to specialized talent at scale and speed globally. Torc, with its enterprise-grade AI-powered talent marketplace, will redefine the talent experience, and speed of delivery, and strengthen Randstad Digital’s capabilities in enabling our client’s digital transformation.”
The Elevate Sports Ventures agency has acquired SRI and launched Elevate Talent, a new executive search and global talent advisory practice. The new firm will recruit senior leaders across sports, entertainment, media, lifestyle, technology, and gaming. Elevate is led by Al Guido, who also serves as president of the NFL’s San Francisco 49ers. Jim Chaplin, formerly CEO of SRI, will become global president of Elevate Talent. In his 14 years at the helm of SRI, Mr. Chaplin and his management team have spearheaded the firm’s transformation from a U.K.-based sports specialist firm to a global company in the executive search space, helping organizations with board structure, governance, and C-suite issues with talent and advisory solutions. “For the team at SRI, becoming part of Elevate feels like a perfect match,” said Mr. Chaplin. “We share a foundation in the world of sports and have used that particular vantage point to deliver for clients across a wide range of consumer-facing sectors. Our common experience, aligned to a rigorous, data-driven approach, gives us the tools to set organizations up for success.”
Sinecure.ai, an SaaS software company dedicated to finding talent through AI and Large Language Model (LLM) innovation, has acquired London-based executive search firm Grace Blue Partnership. Financial terms of the deal were not disclosed. “The most effective hiring outcomes in the future will involve a balance of advanced technology with human understanding and ingenuity,” said Joel Wright, CEO and Co-Founder of Sinecure.ai. “As the global market for talent continues to evolve, Sinecure.ai is meeting the increased demands of our customers with solutions that promise precision, speed and predictability. Our acquisition of Grace Blue Partnership leverages the strengths of both companies, and fortifies the ways organizations will find, engage and retain talent, with lasting effects.”
Related: Randstad Acquires Finite Group in Australia and New Zealand
Contributed by Scott A. Scanlon, Editor-in-Chief and Dale M. Zupsansky, Executive Editor – Hunt Scanlon Media
