Programmatic recruitment advertising has been around for a while. The process, which ensures job ads are seen by the right candidates on the right sites at the right time, has been branded by market insiders as the future of jobs for some time. However, it seems others are beginning to jump on the bandwagon, with four deals in this segment occurring over the past month.
StepStone buys Appcast
Publishing giant Axel Springer announced in early July that its recruitment business, StepStone, acquired an 85% stake in U.S. recruitment tech company Appcast for around €70 million ($79 million U.S.).
Appcast specializes in programmatic advertising. It uses web surfers’ browsing history and interests, through automation and analysis, to place targeted job ads within seconds. The technology helps companies increase the number of candidates per ad, boosting recruiting efficiency.
Appcast was founded in 2014 by CEO Chris Forman, who will continue to lead the company. It’s headquartered in New Hampshire, with offices in Canada and Belarus.
“We have wanted to enter the U.S. job classifieds market with the StepStone group for quite some time. Appcast is a very fast-growing company and the perfect investment for us,” said Dr Andreas Wiele, president of Classifieds Media Axel Springer SE.
The acquisition will help Springer continue its growth strategy and expands StepStone’s portfolio of intelligent recruiting and matching technologies.
Indeed to acquire ClickIQ
ClickIQ was founded in 2017 by Richard Collins and Beverly Shaw and in January announced that it was rolling out its AI-driven marketing and analytics platform internationally.
It uses proprietary technology to manage, track and optimize the performance of recruitment advertising in real-time to target candidates in a cost-effective way.
“The team at ClickIQ have built an innovative technology solution for optimising job advertising spend to reach both active and passive jobseekers,” said Maggie Hulce, SVP of sales strategy at Indeed.
The acquisition is expected to be completed in July 2019. Terms of the deal have not been disclosed.
TMP Worldwide acquires Perengo
In mid-July, TMP Worldwide announced it acquired Perengo, a programmatic recruitment specialist. Founded in 2015, California-based Perengo aims to bring state-of-the art advertising technology to the recruitment market.
TMP is an independent recruitment advertising agency headquartered in New York City.
TMP will integrate Perengo’s programmatic platform into its core offering and the team will continue to innovate as part of TMP. Perengo founder Mike Kofi Okyere will join TMP’s executive team. Terms of the deal have not been disclosed.
Recruitics acquires KRT Marketing
In early August, Recrutics, a New York-based recruitment marketing agency and programmatic advertising company, acquired KRT Marketing, another recruitment marketing agency. Terms were not disclosed.
Recruitics, headed by CEO Josh Gampel, was founded in 2012. KRT Marketing, which will be subsumed into Recruitics, was based in Lafayette, Calif., and headed by Ryan Christoi and Mona Tawakali. It was founded in 1972.
PandoLogic for sale?
With four deals in programmatic already announced, a fifth could be incoming. According to our sources, programmatic recruitment advertising firm PandoLogic is actively being offered for sale.
Based in New York and Israel, PandoLogic is a veteran on the scene, and was previously called RealMatch.
Interestingly, Terry Baker, recently named CEO of PandoLogic, posted about the Recruitics acquisition on LinkedIn: “Congrats to both Recruitics and KRT! And the beat goes on. Who’s going to be the programmatic player left standing when we get through early-market adoption and the big boys come with the big valuations and capitalization?”
We think he sums it quite well – the programmatic gold rush has kicked off!