Vista Equity Partners is investing in iCIMS Inc. Financial terms weren’t announced. iCIMS, of Holmdel, New Jersey, provides recruitment technology. Susquehanna Growth Equity, the seller, will remain a shareholder. Goldman Sachs provided financial advice to iCIMS while Qatalyst advised Vista. Cooley LLP acted as legal adviser to iCIMS. Stuart E. Casillas and Natalie Logan of Kirkland & Ellis acted as legal adviser to Vista.
Holmdel, New Jersey, Aug. 15, 2018 (GLOBE NEWSWIRE) — iCIMS Inc., a leading provider of cloud-based talent acquisition solutions, today announced that it will receive an investment by 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.
About iCIMS, Inc.
iCIMS is the leading provider of talent acquisition solutions that help businesses win the war for top talent. iCIMS empowers companies to manage their entire hiring process within the industry’s most robust Platform-as-a-Service (PaaS). Built on the foundation of a best-to-market talent acquisition software suite, iCIMS’ PaaS framework, UNIFi, allows employers to expand the capabilities of their core talent acquisition technology by integrating with the largest partner ecosystem in talent acquisition to help them attract, find, screen, and manage candidates. Offering scalable, easy-to-use solutions that are backed by award-winning customer service, iCIMS supports more than 3,500 contracted customers and is one of the largest and fastest-growing talent acquisition solution providers.
About Vista Equity Partners
Vista Equity Partners, a U.S.-based investment firm with offices in Austin, San Francisco, Chicago, and Oakland with more than $31 billion in cumulative capital commitments, currently invests in software, data and technology-enabled organizations led by world-class management teams with long-term perspectives. Vista is a value-added investor, contributing professional expertise and multi-level support towards companies’ realization of their full potential. Vista’s investment approach is anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions, and proven management techniques that yield flexibility and opportunity in private equity investing. For more information, please visit www.vistaequitypartners.com.
About Susquehanna Growth Equity
Susquehanna Growth Equity, LLC (SGE) invests in growth stage technology companies in the software, information services, internet and financial technology sectors. SGE is backed by a unique and patient source of capital, which enables the firm to give management teams and entrepreneurs freedom and flexibility to maximize growth. The firm has invested in over 45 companies over the last 12 years, and has portfolio companies across the US, Canada, EU, and Israel. To learn more, please visit www.sgep.com.