Bullhorn has acquired Invenias, a UK-headquartered provider of cloud-based software for executive search firms. The transaction closed on July 24, 2018; terms will not be disclosed. Invenias will continue to deliver high levels of service to their customer base of 1,000 executive search customers who choose the company for its flexible, mobile-optimised SaaS solutions tailored for strategic hiring to drive productivity and build relationships. The company is also excited about the launch of their new platform - Invenias X. Invenias’ founders, CEO David Grundy and CTO and Chief Product Officer Richard Harrison, will remain at the helm of the company, and will also serve as part of Bullhorn’s expanded international leadership team.
This acquisition is testament to Bullhorn’s commitment to serving all segments of the global staffing and recruitment industry, of which executive search is an increasingly visible and unique segment. Bullhorn has offered an open ecosystem approach since its inception in 1999, and with the recent addition of several Salesforce-based applicant tracking solutions, is focused on offering recruitment agencies the greatest choice and flexibility in selecting a software backbone to power their growth and address their specific business challenges.
The nature of executive search firms’ work requires a specific set of capabilities which meet their unique requirements, including diverse needs around divisional and company-based non-compete management, digital engagement with top talent, and data protection. This is compounded in light of the recent General Data Protection Regulation (GDPR) as well as growing skilled talent shortages and competition around acquisition of top talent globally. The Invenias Cloud platform is dedicated to serving these needs, such as enabling customers to develop and leverage deep talent insight, optimise the delivery of complex hiring engagements including digital collaboration and engagement with clients, and manage sensitive issues such as compliance with the GDPR. Bullhorn’s acquisition of Invenias continues its goal of helping to create an incredible customer experience for recruitment agencies around the world
Invenias will retain its own sales organisation and leadership team, but with access to the resources, guidance, and best practices around customer centricity that have long been core to Bullhorn’s mission.
“This acquisition is great news for Invenias customers and prospects,” said Peter Linas, EVP corporate development and international at Bullhorn. “It is business as usual for those companies who rely on Invenias, except now they’re part of the Bullhorn family, with easy access to explore our entire ecosystem of solutions if they wish. Customer experience is of tantamount importance to us, which is why we are welcoming Invenias to the Bullhorn family whilst retaining their specialist skill set in executive search. We understand that executive search is a unique and extremely important segment within the recruitment industry, and truly believe that Invenias has the best product available to meet the needs of the executive search market. In acquiring Invenias, we seek to support these executive search companies in their growth journeys.”
Founded in 2005 by David Grundy and Richard Harrison, Invenias is the leading platform trusted by professionals responsible for executive search and strategic hiring globally. Its 1,000 customers around the world include executive search and strategic recruitment firms such as Harvey Nash, Odgers Berndtson USA, Robert Half Executive Search, Sheffield Haworth, and Skillcapital.
Headquartered in the UK and backed by MMC Ventures since 2013, the company employs 65 employees across the U.S., EMEA, and APAC. With backgrounds in technology and executive search, Invenias’ founders recognised the demand for easy-to-use software and the opportunity for technology to drive innovation and create value for customers, a philosophy which is core to Bullhorn’s identity.
“Executive search firms increasingly see technology as central to their operations and ability to innovate,” said David Grundy, CEO at Invenias. “Now that we are part of the Bullhorn family, Invenias can accelerate our ability to execute on the full vision of our product strategy and enable us to reach and support more customers globally. With a shared ambition to lead the market, a shared passion for creating products users love to use, and a shared commitment to excellence in customer service, we are a natural complement to Bullhorn.”