Despite a gloomy financial outlook, investments and interest in HR tech is not slowing down.
Hot on the heels of payroll startup Rippling raising $500 million, talent acquisition software leader Radancy has announced a new acquisition.
It has decided to buy US-based Ascendify less than 18 months after Radancy merged with Firstbird, an Austrian startup focused on employee referrals.
Ascendify was founded in 2012 to use technology to help recruiters and sourcers build better relationships with passive candidates. It has helped HR teams at large companies like Wells Fargo, BCG, Toshiba and Hallmark.
As a result of the deal, Ascendify’s recruitment marketing technologies will add value to Radancy talent acquisition cloud.
Financial terms of the deal were not disclosed. But Radancy did share that Piper Sandler acted as its financial advisor in the acquisition.
A bright future for Radancy
Talking about the acquisition, Ascendify CEO Matt Hendrickson wrote in a blog post: “Radancy has a similar vision and culture to our own and we are confident this will be a great match.
“Radancy also has a proven track record of success and their expertise and resources will help us accelerate our growth and global capabilities so that we may better serve our customers.
“We understand this news may come as a change and so we want to assure our clients, partners and employees that this acquisition only strengthens our commitment to the industry as we continue to grow from the added resources and support.”
Michelle Abbey, Radancy CEO and president, added: “As the competition for qualified talent grows, companies are increasingly seeking data-driven technology solutions to enhance their ability to identify, engage and hire candidates with greater effectiveness.
“We are seeing high demand for the Radancy Talent Acquisition Cloud as the only all-in-one platform that streamlines the entire recruitment process, enabling companies to maximize their reach, optimize touchpoints and increase efficiency.”
Industry analyst and founder of Aptitude Research, Madeline Laurano, shared on LinkedIn:
Watch this space.
The International Festival of HR is back! Discover amazing speakers from the world of HR and business at UNLEASH America on 26-27 April 2023.
Sign up to the UNLEASH Newsletter
Get the Editor’s picks of the week delivered straight to your inbox!