In a significant move to bolster its AI capabilities, Bullhorn, the global leader in software for the staffing and recruitment industry, has announced the acquisition of Textkernel. This strategic acquisition is set to revolutionize the way organizations source talent in today’s competitive landscape.
Addressing Talent Shortages with AI
The staffing industry, which has grown to over $600 billion in revenue globally, faces ongoing challenges with talent and job shortages. In his keynote at Engage Boston 2024, Bullhorn CEO Art Papas emphasized the need for a S.E.A. (Specific, Enormous, Actionable) of data to fully harness the potential of AI. This is where Textkernel’s industry-leading parsing and matching technologies come into play.
Textkernel’s parsing technology, renowned for its precision, will be instrumental in accelerating Bullhorn’s AI strategy. Their matching technology is trusted by some of the largest enterprises globally, both within staffing and talent acquisition sectors. Furthermore, Textkernel’s Labor Market Insights solution enhances agency business development and growth strategies, crucial in the current job-short market.
“The combination of Textkernel and Bullhorn will substantially help organizations solve their talent-sourcing challenges and win new business,” said Matt Fischer, President and COO at Bullhorn. “This acquisition significantly accelerates our AI strategy and unlocks the next chapter of solutions we can offer customers.”
Strategic Focus on Sourcing AI
Sourcing AI remains a strategic focus for Bullhorn. With the staffing industry expected to experience accelerated growth in 2024, this acquisition represents a massive leap forward in AI integration. The recent Vision for Innovation at Engage Boston 2024 highlighted Sourcing AI as a primary investment area for Bullhorn.
“We are truly excited to embark on this journey with Textkernel,” said Fisher. “We congratulate CEO Gerard Mulder, COO Guus Meijer, and the entire leadership team at Textkernel and welcome them to the Bullhorn family. This acquisition is a significant step forward for us, and we are committed to maximizing its potential to benefit our customers.”
A Game-Changer for the Staffing Industry
Bullhorn is backed by lead investor Stone Point Capital, Insight Partners, and Genstar, while Textkernel is supported by Main Capital Partners. Textkernel’s state-of-the-art technologies power 2,000 global customers, including 8 of the top 10 staffing firms and multiple Fortune 500 companies.
With this acquisition, Bullhorn aims to harness AI’s full potential to assist organizations in navigating talent shortages. The merging of Bullhorn and Textkernel sets the stage for impactful solutions that will advance AI in the talent-sourcing landscape.
For more details about the announcement, visit Bullhorn’s official release.
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