Investment will help power the staffing industry’s digital transformation agenda
Bullhorn, the cloud computing company that helps staffing and recruiting organizations transform their businesses, announced that Stone Point Capital will become the lead investor to power the next phase of the company’s growth. Insight Partners and Genstar will remain investors in the business. Stone Point was attracted to Bullhorn on the strength of its long-term opportunity to serve the global staffing and recruiting industry, its consistent revenue growth, and its reputation for customer success. The entire Bullhorn management team will remain with the company to execute on its strategic roadmap and continue its mission to create an incredible customer experience.
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“We are very excited to be working with the team at Stone Point as we enter the next phase of Bullhorn’s growth”
The staffing and recruiting industry has increasingly embraced digital transformation, reexamining how their businesses should operate to drive deeper candidate and client relationships, to improve margins, and to compete effectively as the talent acquisition landscape fundamentally changes. The staffing and recruiting market is currently in the midst of transformational change, driven by several trends: 1) consolidation, necessitating process and system overhauls to facilitate greater responsiveness to customer needs; 2) a rethinking of service models, led by customer demand and exacerbated by the distributed nature of a COVID-impacted workforce, which requires flexible delivery frameworks predicated around candidate communication and engagement; and 3) increasing competition from peer firms and online staffing platforms alike, creating a need for speed and scale. Bullhorn is helping to shape this transformation, as companies invest in upgrading their technology infrastructure and business processes to meet the changing needs of their customers, candidates, and the industry at large.
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Stone Point’s sector expertise in staffing and financial services will help to guide Bullhorn’s continued momentum with its pay and bill solutions, which allow staffing firms to align their sales and recruiting teams with finance and operations on a single platform that unifies operational and finance information so that firms can make better business decisions and deliver a superior customer experience. Stone Point is already an investor in one of Bullhorn’s fastest-growing partners, Prism HR, which provides an integrated payroll and benefits solution that extends the power of Bullhorn’s pay and bill solutions. The additional financial flexibility gained by Bullhorn in connection with Stone Point’s investment will enable the company to supercharge its previously announced Unified Workforce Management strategic roadmap to deliver a cohesive candidate experience through the entire recruitment lifecycle — from getting started to getting paid.
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