Bullhorn, the cloud computing company that helps staffing and recruiting organisations transform their businesses, today announced that Stone Point Capital will become the lead investor to power the next phase of the company’s growth. Insight Partners and Genstar will remain investors in the business.
Stone Point was attracted to Bullhorn on the strength of its long-term opportunity to serve the global staffing and recruiting industry, its consistent revenue growth, and its reputation for customer success. The entire Bullhorn management team will remain with the company to execute on its strategic roadmap and continue its mission to create an incredible customer experience.
Stone Point’s sector expertise in staffing and financial services will help to guide Bullhorn’s continued momentum with its pay and bill solutions, which allow staffing firms to align their sales and recruiting teams with finance and operations on a single platform that unifies operational and finance information so that firms can make better business decisions and deliver a superior customer experience.
Art Papas, founder and CEO of Bullhorn said: “We are very excited to be working with the team at Stone Point as we enter the next phase of Bullhorn’s growth. We have a tremendous opportunity to help the global staffing industry execute on their digital transformation strategies, and Stone Point’s experience and industry expertise will be invaluable as we grow the company to the next level. We’re also happy that Insight and Genstar will remain investors, as they have been integral to helping us more than double our revenue over the last three years.”
Chuck Davis, CEO at Stone Point Capital, added: “We are excited about the long-term opportunity to work with Bullhorn. We are in the early stages of the industry’s adoption of digital transformation initiatives, and we couldn’t be more excited about partnering with an experienced team that knows the industry, their customers, and how to build a business with a deep focus on customer experience.”
Bullhorn expects the investment by Stone Point to close early in the fourth quarter of 2020. Terms of the deal will not be disclosed. Lazard and District Capital Partners served as financial advisors to Bullhorn in connection with this transaction.