AlleyWatch
Greenhouse, the applicant tracking and job recruitment software, has agreed to sell a majority stake to TPG Growth. The terms of the transaction were not disclosed but it has been reported that the transaction values the Greenhouse at $820M. TPG’s investment at this time is approximately $500M, consisting of ~$450M to acquire stock from existing shareholders (investors and employees) and ~$47M in new equity investment via a related TPG fund.
“Winning businesses are built by talented individuals. Yet every day, organizations around the world base their hiring decisions on hunches and without data, perpetuating biases and limiting human potential. We founded Greenhouse to help companies become great at hiring and reduce bias in the hiring process,” remarked