Local HR tech platform OutMatch has made its first acquisition in since being acquired earlier this year. It marks the first international acquisition for the company.
The Dallas company, which uses a date-driven platform to optimize and automate the recruitment and hiring process, acquired LaunchPad, a London-based recruitment platform. Financial terms of the deal were not disclosed.
“Combining LaunchPad’s state-of-the-art automation and AI technology with OutMatch’s data-driven assessment offerings will create a market-leading solution with global scale and enable companies to maximize the lifetime value of their employee base,” OutMatch CEO Greg Moran said in a prepared statement. “The OutMatch platform will allow candidates the opportunity to move at speed through the selection process with full transparency, while talent acquisitions teams can drive unprecedented 25x or greater ROI.”
OutMatch has been expanding in recent years, reporting 65 percent three-year revenue growth when it landed on this year’s Inc. 5000 list. As of March, the company had about 120 employees with a compound annual growth rate to around 28 percent to 30 percent.
As part of the deal, OutMatch said it is planning to launch a new talent selection platform that combines the analytics, automated workflow and other tools of the two companies. It said the platform will provide more efficient hiring capabilities while reducing hiring bias.
“The talent acquisition process is traditionally time-consuming, inefficient, and inconsistent, issues only compounded by COVID-19,” Will Hamilton, LaunchPad CEO, said in a statement. “Technology must adapt and be able to support a more diverse and ever-changing array of hiring needs while still driving improved efficiency.”
OutMatch was created in 2015 out of the merger between Chequed.com and Dallas’ Assess Systems and acquired by Baltimore-based Camden Partners in an $8 million deal. After that, it acquired San Francisco-based Pomello in 2017, later acquiring video interview platform Wepow in 2019.
This year, OutMatch received a majority investment from Colorado-based enterprise software-focused private equity firm Rubicon Technology Partners. Financial terms of that deal, though Steven Carpenter, Jason Winsten and Vincent Chao of Rubicon joined the board of OutMatch.
