A North Texas tech startup has been acquired, as it seeks to expand its own brand through acquisitions.
Dallas-based OutMatch, an online hiring platform, announced landing a majority investment by Rubicon Technology Partners, a Boulder-based private equity firm focused on enterprise software. Financial terms of the transaction were not disclosed. However, as part of the deal, Rubicon’s Steven Carpenter, Jason Winsten and Vincent Chao will be joining the board of OutMatch. In addition, existing OutMatch backer Camden Partners will remain an investment partner.
OutMatch is also backed by Trident Capital and local investment firm ward.ventures.
“This investment by Rubicon validates the hard work the OutMatch team has put into building and growing our… platform,” said OutMatch CEO Greg Moran in a prepared statement.
Launched in 2016, OutMatch’s Talent Intelligence Platform helps companies with employee selection and post-hiring development through video interviewing and reference checking, as well as talent and culture analytics. The company counts big-name brands like Taco Bell, Subway and Adidas among its customers.
[embed]https://youtu.be/ZT2T0tUIVNs[/embed]
OutMatch has about 120 employees and has expanded its compound annual growth rate by nearly 30%, according to the Dallas Business Journal.
With the acquisition by Rubicon, OutMatch hopes to accelerate its existing strategic acquisition plan. Over the past three years, the Dallas company has acquired video interviewing and engagement platform Wepow, recruiting startup Pomello and sales performance company The Devine Group. OutMatch has also acquired Chequed.com and Assess Systems.
It also plans to use the investment to accelerate product innovation and go-to-market expansion.
“Rubicon’s investment will help us move our product development forward faster, as well as grow both organically and through acquisition,” an OutMatch spokesperson told the DBJ. “This investment helps us take (the platform) to a broader audience helping companies select and develop great employees.”
Rubicon Technology Partners focuses on lower mid-market software companies, typically with investments between $30 million and $75 million. It has more than $1 billion in under-management assets and announced targeting $850 million for its Fund III.
