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Jobvite gets $200 million investment, acquires three companies

February 13, 2019

K1 Investment Management made a majority investment in Jobvite, a provider of recruitment software, including an applicant tracking system.

An undisclosed portion of K1’s $200 million-plus investment was used by Jobvite to acquire three firms: recruitment marketing company Talemetry; online employee referrals platform RolePoint; and text-based conversational recruiting company Canvas. The rest of the investment is general funding put into Jobvite.

Jobvite CEO Dan Finnigan will lead the combined company.

Jobvite is not disclosing its valuation with the funding; however, Finnigan told TechCrunch that while K1 acquired a majority stake, it was nowhere near a full acquisition. According to the company, existing shareholders — including Jobvite’s founders and New York-based growth equity firm Catalyst Investors — will retain a minority interest in the San Mateo, Calif.-based company.

Jobvite’s three acquisitions will result in more than 2,000 customers, including Fortune 500 enterprises such as Schneider Electric, Lenovo, Santander, PayPal, Genuine Parts and Panasonic, according to the company.