SkillSurvey, a Wayne, Penn.-based provider of reference assessments, has secured an investment from Primus Capital. No financial terms were disclosed. Raymond James advised SkillSurvey on the transaction. Also, Phil Molner and Aaron Davis of Primus have been named to SkillSurvey’s board of directors.
CLEVELAND, OH – Dec. 3, 2014 – Primus Capital (Primus) today announced that it has made a major growth investment in SkillSurvey, Inc. Based in Wayne, PA, SkillSurvey provides cloud-based solutions to help human capital management professionals manage critical points in the talent lifecycle using data and insight to more effectively recruit, hire and manage employees to drive business results. The terms of the transaction were not disclosed.
SkillSurvey is the leading provider of reference assessments that use insight and feedback from managers, peers and other employees who have worked with job candidates to help prospective employers make better hiring decisions. The company’s flagship product, Pre-Hire 360®, is an award-winning, patented technology solution that utilizes a combination of behavioral science, talent analytics, job specific assessments, and data-driven benchmarking to generate predictive insights about job candidates based upon a candidate’s past work performance. The company recently launched Credential 360TM, a solution to help hospitals and healthcare organizations improve patient care outcomes by expediting the typically cumbersome professional credential verification process.
“We are very impressed with SkillSurvey’s strong management team, their best-in-class solutions, and robust customer base. We are particularly excited about the company’s growth prospects as organizations look to leverage human capital management as a competitive advantage to drive business outcomes. We are confident that our partnership with SkillSurvey will enhance its position as a market leader and fuel further innovation that will benefit customers,” said Phil Molner, Managing Partner of Primus. “They are an obvious partner for us and we look forward to working with the current management team to grow the business by accelerating investment in developing new solutions.”
The new funding will allow SkillSurvey to extend its industry-leading product set to address additional points in the talent lifecycle and invest in expanded sales and marketing initiatives to drive customer engagement. In addition to SkillSurvey’s solution to support credentialing in the healthcare industry, and its widely adopted reference assessment solution, the company helps customers engage with and build a pipeline of “passive candidates” by staying connected with a candidate’s job references through The Q® – a targeted portal to find and recruit passive prospects who are not actively searching for jobs.
“There is wide opportunity ahead for SkillSurvey, and we’re excited to align with an investment partner that will support our growth and share our vision of helping human capital management professionals deliver even more value to their companies’ bottom lines,” said Ray Bixler, CEO of SkillSurvey. “The expertise that Primus brings in industries like healthcare, software, technology-enabled services, and education makes our partnership an ideal fit. We’re looking forward to providing our solutions to many more employers, from the Fortune 500 to small businesses across the country.”
Mr. Bixler will continue in his role as President and CEO, and all other management team members will remain in their current positions.
Both Mr. Molner and Aaron Davis, Principal of Primus, will join the SkillSurvey Board of Directors.
Raymond James & Associates served as financial advisor to SkillSurvey on this transaction.
About Primus Capital
Primus Capital is a private equity firm that invests in high-growth companies within the healthcare, software, technology-enabled services, and education industries. Founded in 1983 and currently investing Primus Capital Fund VII, Primus has invested in over 100 growth companies. Transaction types include buyouts, recapitalizations and growth equity investments.
For more information, visit www.primuscapital.com
SkillSurvey provides cloud-based solutions to help human capital management professionals manage critical points in the talent lifecycle using data and insight to more effectively recruit, hire and manage employees to drive business results. The company’s flagship solution, Pre-Hire 360®, is an award-winning, patented technology solution that utilizes a unique combination of behavioral science, talent analytics, and data-driven benchmarking. SkillSurvey’s Pre-Hire 360 reference assessment is scientifically proven to drive better hiring decisions and generate predictive candidate insight based upon feedback provided by references on past job performance. The company also offers an extension of Pre-Hire 360 in the form of a passive sourcing solution, The Q®, and the recently launched Credential 360TM, a new solution that helps hospitals and healthcare organizations improve patient care outcomes by expediting the professional credential verification process. SkillSurvey’s cloud-based software products are being used by 1,400 companies, institutions and organizations. Visit SkillSurvey at www.skillsurvey.com