Gemspring-backed TMP buys Perengo

TMP Worldwide, a portfolio company of Gemspring Capital, said July 17 that it acquired Perengo. Financial terms weren’t announced. Perengo provides a programmatic recruitment platform that aims to help large companies automate and improve their recruitment process.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–TMP Worldwide, a global leader in talent acquisition technologies, announced that it has acquired Perengo, a programmatic recruitment platform that helps large companies automate and improve their recruitment process. The Perengo team, with experience rooted in state-of-the-art ad-tech, has developed a pioneering, AI-driven programmatic recruitment platform. By combining Perengo’s technology with TMP’s TalentBrew platform’s proprietary network intelligence, the outcome is an offering that will be transformative to our customers. TMP Worldwide can now deliver end to end, personalized candidate experiences via an AI driven, multi-channel candidate acquisition strategy optimized to meet quality, efficiency and time-to-fill objectives for each job.
“The acquisition of Perengo further advances our commitment to provide our clients with the most robust and efficient recruitment technology in the industry,” said Michelle Abbey, President and CEO of TMP Worldwide. “The combination of ambition and differentiating technology makes them the perfect addition to both our team and our platform.”
“Since the first meeting with TMP Worldwide, it was clear to all of us that we share the same strategic vision and goals,” said Mike Kofi Okyere, Perengo’s CEO. “Together, we are looking forward to accelerating the pace of innovation within the recruitment space.”
About Perengo
Perengo is a programmatic recruitment platform for performance-conscious recruiters. High-growth businesses and Fortune 500 companies use Perengo to solve their recruitment challenges at scale. The platform offers solutions for operational recruitment automation and strategic business intelligence. Perengo was founded in 2015 with the goal of bringing state-of-the –art advertising technology to the recruitment market.
About TMP Worldwide
TMP Worldwide is a global leader in talent acquisition technologies, committed to finding new ways to leverage software, strategy and creative to build talent and enhance our clients’ employer brands – across every connection point. From healthcare to government to retail to technology and everything in between, we’ve revolutionized the way companies and candidates connect.
About Gemspring Capital
Gemspring Capital is a private equity firm with $355 million of equity capital under management that focuses on making control and structured equity investments in middle market companies headquartered in the United States and Canada. Gemspring partners with talented management teams and takes a hands-on approach to driving revenue growth and value creation. Target companies have up to $350 million in revenue and are in the business services, healthcare services, industrial services, software and tech-enabled services or specialty manufacturing sectors