TPG Growth and The Rise Fund announced that they have signed a definitive agreement to partner with Greenhouse, the leading hiring software company used by over 4,000 businesses, as a majority investor. TPG Growth, the middle-market and growth equity platform within TPG, and The Rise Fund, the global impact investing platform managed by TPG, will jointly invest in Greenhouse to accelerate product innovation, grow into new markets, and enhance solutions aimed at accelerating diversity, equity and inclusion in hiring. Financial terms of the transaction were not disclosed. The transaction, which is expected to close during the first half of 2021, is subject to customary closing conditions.
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“Greenhouse has established itself as a best-of-breed next-generation talent acquisition software solution”
“Winning businesses are built by talented individuals. Yet every day, organizations around the world base their hiring decisions on hunches and without data, perpetuating biases and limiting human potential. We founded Greenhouse to help companies become great at hiring and reduce bias in the hiring process,” said Daniel Chait, CEO of Greenhouse. “Through this investment from TPG Growth and The Rise Fund, we gain a partner with the resources and vision to support our growth, and who is totally aligned with our mission. The Rise Fund’s unique focus on real, measurable impact is so exciting because it supports our ability to drive positive outcomes for our customers and for society as a whole.”
Greenhouse’s software and structured hiring approach helps companies realize the benefits of improved diversity, equity and inclusion in their hiring practices. Greenhouse has won numerous awards including Glassdoor #1 Best Place to Work and Inc. Magazine Best Workplace for three consecutive years.
“Greenhouse has established itself as a best-of-breed next-generation talent acquisition software solution,” said Mike Zappert, Partner at TPG Growth. “The consistent feedback we hear in the market is that Greenhouse’s customers simply love the product. It is easy to use, intuitive, and highly configurable. At a time when an increasing number of companies view talent and recruiting as a strategic imperative, Greenhouse stands out as the go-to solution for Talent teams at companies across industries and around the world. We look forward to partnering with Daniel and the team to continue Greenhouse’s leadership in this important and growing part of the software market.”
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