Textkernel, backed by strategic software investor Main Capital Partners, has further strengthened its position as a global leader of search and match technology through the add-on acquisition of US-based AI company Sovren.
Connecting People and Jobs
Sovren, which delivers a similar product suite, predominantly within the North American market, is based in Texas, USA. The combination of both companies creates a market leading player in the AI-based search and match technology space. This seamlessly fits into Textkernel’s mission to connect people and jobs, better.
With this strategic step, Textkernel continues its exciting growth trajectory and strengthens its North American and APAC footprint. Both Textkernel and Sovren have achieved impressive growth in recent years, both inside and outside the USA. After joining forces with Sovren, Textkernel serves over 2,500 clients including some of the largest staffing companies worldwide, working from offices in The Netherlands, USA, France and Germany.
Gerard Mulder, CEO of Textkernel: “With the acquisition of Sovren, Textkernel enters into a very exciting next phase of its 20 year anniversary as a truly global AI technology leader for talent acquisition and management. Since our inception as an R&D-focused company 20 years ago, Textkernel has aspired to help people and jobs connect better.”
Robert Ruff, CEO of Sovren, added: “I am thrilled to have found the best possible company to join forces with Sovren. This acquisition ensures continuity for our employees, our customers, and our products. I believe the Sovren customers can immediately benefit from the strong knowledge and functionality of Textkernel around classifications on skills, professions and semantic enrichments for better search and match results.”
Pieter van Bodegraven, Managing Partner Benelux at Main Capital and Chairman of the Supervisory Board of Textkernel, commented: “We expect to become more active in the United States in the short to medium term. This is a very exciting moment for Main as we see great potential for many of our European platforms to roll out operations in the USA through buy-and-build strategies.”
Textkernel is the international leader in Artificial Intelligence (AI), Machine Learning and Semantic Technology for matching people and jobs. Textkernel enables thousands of recruitment and staffing agencies, employers, job boards, HR software vendors and outplacement and redeployment agencies worldwide to work smarter and more effectively by creating efficiencies in the HR and recruitment process. Textkernel is headquartered in Amsterdam, with operations in Germany, France, UK and USA. Including Sovren, the group employs ca.140 people. In November 2021, Textkernel took first place in the Main Software 50 ranking, for most successful software companies in the Netherlands.