Holmdel-based iCIMS Inc. announced that it will receive an investment from Vista Equity Partners (Vista), a market-leading private equity firm that invests in software, data and technology-enabled businesses.
Supporting the hiring initiatives of more than 3,500 customers worldwide on its talent acquisition platform, including such notable brands as 7-Eleven, Enterprise Holdings, Southwest Airlines and Rite Aid, iCIMS is considered the leader in recruitment technology. Employers leverage iCIMS’ recruiting products as well as its ecosystem of integrated partners to attract, screen and hire talent into their organizations. iCIMS’ consistently strong performance across product innovation, customer satisfaction, growth, and employee engagement make the company an attractive investment opportunity in a large and growing market.
The investment takes place during a significant year for iCIMS, which has included the acquisition of mobile recruiting technology provider TextRecruit, new strategic partnerships with ADP and Ultimate Software, and key leadership hires within the C-suite.
“We’re very proud to partner with Vista, who has a phenomenal reputation and strong technology expertise, to accelerate our growth,” said Colin Day, iCIMS Chairman and Chief Executive Officer. “Given the size of the industry, iCIMS’ track record, and our team of dedicated, talented employees, we continue to see an incredible opportunity for iCIMS to win this market. Vista’s support gives us additional confidence in making that a reality.”
“Increasingly what separates top companies from their competition is their ability to identify, recruit and hire the best talent,” said Brian Sheth, Co-Founder and President of Vista Equity Partners. “The competition for talent is only going to increase in the future. As the market leader in talent acquisition solutions, iCIMS is poised for growth by providing companies the competitive edge they need to bring on top talent. We are thrilled to invest in iCIMS to help capitalize on the opportunities in the market and accelerate the company’s growth.”
In 2012 Susquehanna Growth Equity invested in iCIMS, with an additional investment in 2015. Susquehanna will continue to be a shareholder and serve on the Board of Directors, and iCIMS founder, Colin Day, will continue to serve on the board and as company CEO.
The transaction is expected to close as soon as appropriate approvals are completed. Goldman Sachs acted as exclusive financial advisor to iCIMS and Qatalyst acted as financial advisor to Vista. Cooley LLP acted as legal advisor to iCIMS and Kirkland and Ellis acted as legal advisor to Vista.
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