TA Associates has made an investment in iCIMS, a provider of cloud-based talent acquisition solutions. No financial terms were disclosed. iCIMS is a portfolio company of Vista Equity Partners.
AUSTIN, Texas and BOSTON and HOLMDEL, N.J., May 6, 2022 /PRNewswire/ — iCIMS, a leading provider of cloud-based talent acquisition solutions, today announced that TA Associates (“TA”), a leading global growth private equity firm, will invest in the Company alongside existing investor Vista Equity Partners (“Vista”). Vista, a leading global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, first invested in iCIMS in 2018 and has since supported the Company’s global growth. Vista and TA will maintain equal economic ownership in iCIMS and will partner together to further accelerate global growth and product development expansion at the Company. Susquehanna Growth Equity, which first invested in iCIMS in 2012 and made an additional investment in 2015, will continue to be a shareholder.
iCIMS powers talent transformation for more than 4,000 organizations worldwide, including CVS Health, Target, and IBM. Collectively, iCIMS customers employ more than 34 million people around the globe. Employers leverage the iCIMS Talent Cloud to attract, engage, hire and advance the right talent that builds a diverse, winning workforce. The company’s award-winning product innovation, strong customer satisfaction and talented team members worldwide position iCIMS to continue leading the large and growing HR technology market.
Over the course of its partnership with iCIMS, Vista has enabled the company to increase its market share, expand its go-to-market strategy, increase its global customer base and strengthen its product suite through organic growth and strategic acquisitions. iCIMS is leading the market with its flagship applicant tracking system, its award-winning offer management product, and solutions to support organizations’ diversity, equity and inclusion (DEI) initiatives. The iCIMS Talent Cloud is further bolstered by iCIMS’ strategic acquisitions, including Jibe (candidate engagement), Opening.IO (AI recruiting solution), EasyRecrue (video interviewing and skills assessments), Altru Labs (employee video content) and Candidate.ID (candidate recruitment marketing automation). These value creation initiatives and transformative expansions have resulted in an approximate 60% ARR growth over this period with a 50% increase in users to over 2.5 million.
TA brings a proven track record investing in and scaling technology companies across a wide variety of sectors and geographies. Vista and TA have partnered previously to help realize the next chapter in a company’s growth trajectory. Moving forward, iCIMS will leverage TA’s global network and integration capabilities and continue to benefit from Vista’s proven operational expertise.
“Over the last three years, we’ve scaled iCIMS from a North American talent acquisition solution provider to the global leader in talent technology that empowers the enterprise to transform the hiring process,” said Monti Saroya, Co-Head of Vista’s Flagship Fund and Senior Managing Director. “We have partnered with TA on several occasions, and we are eager to leverage our combined value-add capabilities to enhance iCIMS’ unique market position and realize additional growth.”
“iCIMS is a clear market leader in talent technology, helping customers navigate the increasingly competitive and complex recruiting market, one of the most pressing issues facing businesses today,” said Ashutosh Agrawal, a Managing Director at TA. “We are impressed by iCIMS’ continued innovation and its commitment to the customer experience, and are thrilled to partner with Vista and the iCIMS team in the Company’s next phase of growth.”
“We’re proud of the extraordinary results we’ve delivered over the last few years as part of the Vista family and are excited about the next chapter of growth at iCIMS,” said Steve Lucas, CEO of iCIMS. “Now more than ever, talent acquisition and retention are critical business priorities, and we look forward to partnering with both Vista and TA as we continue to innovate with world-class solutions that deliver meaningful ROI for our customers.”
“Given iCIMS’ unique market position, proven management team and consistent growth trajectory, we see ample opportunity for continued expansion,” said Harry Taylor, a Managing Director at TA. “We look forward to working with Vista, Steve and the entire iCIMS team to promote innovation, build new solutions and execute the Company’s go-to-market strategy.”
Additional financial terms were not disclosed.