Verdane invests in and merges HR Manager and Webcruiter
Stockholm/Oslo — Verdane Edda has invested in HR Manager and Webcruiter, two leading suppliers of cloud-based HR and recruitment systems. The companies will be merged to create a leading Nordic platform for talent recruitment and development.
Once defined as the attraction of top talent, HR and recruitment have since developed into an integral part of corporate strategy that, in addition, encompasses talent management and development. As a result, the choice of HR software has come to be of critical importance.
HR Manager and Webcruiter hold individually strong positions in the market for cloud-based HR and recruitment systems. Webcruiter offers a specialized system for talent agents and leaders on the hunt for professional recruitment solutions. With more than 400 clients with users in over 120 markets, Webcruiter’s recruitment system handles over 1.9 million applications annually. The firm holds a leading position in the Norwegian market, particularly in the public sector, and is an active player in the Swedish market.
HR Manager has over 900 clients with users in more than 50 countries, and processes more than 3.5 million applications annually. The company’s integrated cloud-based platform for recruitment, employee introduction and talent development has established a strong market position in the Nordics.
Together, HR Manager and Webcruiter will form a company with Nordic growth ambitions, through both organic and add-on acquisitions, working to develop and broaden the available offering of cloud-based products and services for talent recruitment and development.
“HR Manager and Webcruiter’s combined competence, technology and solutions will bring forth promising new opportunities for both existing and new clients. We look forward to developing and establishing a leading Nordic platform together with Webcruiter,” says Lars Christian Ringdal, CEO at HR Manager.
Fredrik Mælum, CEO of Webcruiter, agrees. “We are a stellar fit across technology, client roster and culture. By coming together as one company we will be able to develop cloud-based solutions that support our clients’ strategic needs and operative work within recruitment, onboarding, talent development and HR leadership,” he says.
The Nordic market for HR software is valued at closer to NOK 5 billion, and faces significant changes in the years ahead. The market for cloud-based solutions is expected to grow at 10 to 20% per year until 2020, with far higher market penetration in the Nordics than in the rest of Europe and the US.
“HR Manager and Webcruiter both offer solid solutions and have very competent teams. This fusion will spark the development of even better products available to a greater number of clients across the Nordic market. We are pleased to contribute with our expertise, network and experience,” says Bjarne Lie, Managing Partner at Verdane Capital Advisors.
Verdane Edda will be the majority owner of the fused entity, which joins a Verdane roster of over 170 software and consumer internet investments made over the last 14 years. Expected revenue for HR Manager and Webcruiter stands at 55 and 49 million NOK, respectively, in 2018.
The parties have agreed not to disclose the terms of the transaction.
Verdane funds provide flexible growth capital to fast-growing software, consumer internet, energy or high-technology industry businesses, through both minority and majority investments in individual companies and portfolios. Verdane funds act as ambitious, active, and long-term owners, helping management teams and companies accelerate and sustain growth by leveraging the Verdane advisory team’s unrivalled technology capabilities and proven track record in driving business value. Verdane funds’ and SPVs’ current portfolio of 40 core companies includes Boozt, EasyPark and Polytech. Verdane funds have attracted SEK 12 billion in total commitments from investors. Verdane Advisory Group has 35 employees working out of offices in Copenhagen, Helsinki, London, Oslo and Stockholm. For more information, please visit www.verdane.com
About HR Manager
HR Manager specializes in HR and recruitment processes. The solutions we offer generate added value for any business, independent of industry or size. Our user-friendly cloud services Talent Recruiter, Talent Onboarding and Talent Manager cover all aspects of HR and allow them to be managed through one integrated solution. The systems are adapted to both private and public sector regulations, including GDPR. More than 900 clients across the Nordics use our solutions. We are over 50 employees and have offices in Oslo, Copenhagen and Stockholm. For more information, visit www.hr-manager.net
Webcruiter delivers a recruitment solution that ensures tailored and professional recruitment processes for private, state and municipal sector businesses. Webcruiter is used today by 400 clients with users in over 120 countries and has established itself as a thought leader in the field through www.rekryteringsbloggen.se. Webcruiter has 30 employees and offices in Oslo and Stockholm. For more information, visit www.webcruiter.com