New Mountain backs enterprise software firm Radancy

• The investment from New Mountain Capital will allow Radancy to accelerate its software product roadmap and expand its services
• Radancy and Gemspring Capital were advised by Lazard as financial advisor and Jefferies and Piper Sandler acted as financial advisors to New Mountain Capital
• Gemspring first invested in Radancy in 2018

New Mountain Capital has made an investment in Radancy, a provider of enterprise software and services solutions for end-to-end talent sourcing. No financial terms were disclosed.

Existing investor Gemspring Capital will remain a minority investor in Radancy.

The investment from New Mountain Capital will allow Radancy to accelerate its software product roadmap and expand its suite of services focused on helping enterprises optimally identify, engage, and hire talent.

“Radancy has proven themselves as a leader in the market, bringing a fully integrated technology stack with data and AI-driven solutions to help companies optimize their talent sourcing efforts,” said Lars Johansson, a managing director at New Mountain Capital, in a statement. “We look forward to partnering with Radancy for the next phase of growth as they continue to transform the world of talent acquisition.”

Gemspring first invested in Radancy in 2018.

Radancy and Gemspring Capital were advised by Lazard as financial advisor and McDermott Will & Emery as legal counsel. Jefferies and Piper Sandler acted as financial advisors and Ropes & Gray served as legal counsel to New Mountain Capital.

New Mountain has over $37 billion in assets under management.

Gemspring Capital has $1.5 billion of capital under management.

Gemspring targets companies that have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial & insurance services, healthcare services, industrial services, software & tech-enabled services, or specialty manufacturing sectors.