The terms of the acquisition have not surfaced yet but the deal is expected to close later this month. The merger is aimed at establishing a human resource management platform for the hourly market and facilitate tools for candidate sourcing, screening, tracking, hiring, onboarding, training, scheduling and performance management. It will also include integrations to background checks, payroll and point-of-sale partners, says the company.
Peter Harrison, CEO, Snagajob, said:
“We are incredibly excited to welcome the PeopleMatter team to Snagajob. As employers struggle with a challenging hiring environment, the joining of our companies couldn’t be better timed. Adding PeopleMatter’s best-in-class products to our existing market-leading portfolio will help employers of all sizes more easily find, hire and manage their hourly workforce.”
Reportedly, the shake of hands, will help Snagajob extend its existing portfolio and offer cloud-based products designed to accelerate time and effort it takes to find, hire and manage an hourly workforce. It will also leverage PeopleMatter’s digital and mobile technologies to manage talent lifecycle at enterprises.
According to a report in Charleston Business Journal, Jeanne Achille, CEO of The Devon Group, handling media questions about the announcement, confirmed that there will be no layoffs at PeopleMatter. And George Mackie, CEO, PeopleMatter will step down following the merger.
Meanwhile, Jay Nathan, Vice President of Customer Success, PeopleMatter believes it is all a part of “something bigger.”
He stated, “We have been focused on taking PeopleMatter to the next level through building innovative solutions, growing our total addressable market and working to transform how the hourly market works. Combining with Snagajob allows us to do this and more. Joining the hourly market’s top ‘find’ solution and full-featured ‘hire’ and ‘work’ solution creates a powerful, unmatched product set. We now can expand our reach, and make a larger impact on the hourly market.”
In a joint website, Snagajob claims to connect over 70 million members and 200,000 employers using its services. It also says, it will house 450 employees post-acquisition.
“I have worked with both Snagajob and PeopleMatter and really see the synergies with these two companies coming together,” said Jeanne Graves, Vice President of Human Resources, Del Taco.
“Nearly 6,000 of the 20,000 job applications we receive each quarter come through Snagajob and seamlessly flow into our PeopleMatter applicant tracking and onboarding system. We are seeing the best bang-for-our-buck. We have so many quality applicants at this point, we don’t know what to do with them all. It’s a great problem to have,” Graves added.
Snagajob was founded in 1999 and since has participated in 5 rounds of funding. The last funding round was on Feb 03, 2016 for a total of $100 Million led by Rho Acceleration with participation from NewSpring Capital and the Invus Group, making it a total of $148.5 Million. It shares market space with competitors like Jobvite and Mosnster.