TPG Takes Majority Stake In HR Software Company Greenhouse With $500 Million Investment

  • 📰 Forbes
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 53%

Business News News

Business Business Latest News,Business Business Headlines

Private equity giant TPG has closed on a $500 million investment into HR software startup Greenhouse, taking a majority stake in the company following a year when it both laid-off employees and reported surging revenue

Courtesy of Greenhouse

The investment is a loud endorsement of Greenhouse after a turbulent year for the startup, which provides software to companies to track job applicants and bolster recruiting efforts. After the Covid-19 pandemic hit the United States in March, Greenhouse laid off almost a quarter of its employees as it watched hiring plummet across the entertainment, hospitality and travel industries.

Chait, a serial founder who’s previous company advised global banks on technology strategies, says he saw firsthand the need for better back-office technology for recruiting tasks within human resources departments, before he launched Greenhouse in 2011 as a co-founder. While the company has grown, it has been almost 3 years since Greenhouse last raised capital, when it secured a $50 million series D funding round led by Riverwood Capital in 2018.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Error. ATS creates toxic culture.

Hello My profile S E X P o R N . :* :*

And the cycle continues

95% only bad news(

One of the startups I thought Salesforce would buy

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 394. in BUSİNESS

Business Business Latest News, Business Business Headlines