Recruiterbox has been acquired by Turn/River Capital

Recruiterbox – an HR-Tech startup HQ-ed in Bengaluru, has announcedOpens a new window that the company has been taken over by the US-based Turn/River Capital, a private equity firm. The exact financials of the deal remain undisclosed.

The acquisition is geared at helping Turn/River develop its own HR products suite, with Recruiterbox being merged with the company’s performance management solutions umbrella, Applied Training Systems Inc., or ATSI.

Speaking on the occasion, Girish Redekar, Co-founder, Recruiterbox, shared details on the move: “Everyone in the team continues to work in exactly the same roles as before; Turn/River Capital will help with its expertise on the sales and marketing side — in accelerating the growth of SaaS companies.”

Recruiterbox was started in 2011, as a SaaS-focused enterprise by the trio of Raghuveer Kancherla, Raj Sheth, and Redekar. The company specializes in applicant tracking software solutions, helping HR companies address hiring challenges. The platform is pegged as a centralized and singular location offering real-time data, with zero errors.

Its customers include Crunchbase, Scripted, Groupon, and the US Department of Energy.

Turn/River Capital is HQ-ed in San Francisco and is a tech-centered growth capital investor. The company is largely known for buy-outs, recapitalization, growth equity investments, spin-outs – spanning SaaS, web, and small-scale tech firms.

Previously, Turn/River had acquired HR-firms such as ReviewSnap and Trakstar – under the ATSI brand.

In the recent past, Indian HR-Tech companies have received widespread attention and a series of interested buyers. For instance, Qandle – a cloud-based HR management & employee engagement firm for SMBs received $1.2 million in a pre-Series A funding, spearheaded by the Hong Kong-based Redwood Internet Ventures Ltd. In October of 2017, AVR EdGE Networks Pvt. Ltd., receivedOpens a new window $4.5 million in Series A funding by Kalaari Capital. And in September, Shortlist, the HR-Tech startup raised $1 million in seed investments from University Ventures and a number of other investors.