TalentWise raises $25m from Seattle private equity firm


software2_lrgHiring process management (HPM) software company TalentWise raised $25m of growth capital from an undisclosed private equity firm based in Seattle with Citi serving as placement agent.

TalentWise, which saw its revenues jump more than 50 per cent in 2012 from the previous year, will use the funds to scale up its operations as well as for further product development.

The company noted that US companies hired 52 million employees last year and said it is “uniquely positioned to capitalize on the HR industry’s high demand for a cost-effective and compliant hiring process.”

A representative of the private equity firm said, “What impresses us most about TalentWise is their incredibly powerful software which, when coupled with their award-winning service, provides the HR industry with a solution it has been seeking for some time.

“This investment also accelerates TalentWise’s growth and creates new job opportunities in the Pacific Northwest during a period of high unemployment.”

Copyright © 2013 AltAssets