Textkernel acquires US-based software company Sovren

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.

Persberichten
Main Capital Partners
02/12/2021

Amsterdam, 2 December 2021 – 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.

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.

‘Connecting people and jobs, better’
‘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. With the acquisition of Sovren, Textkernel is one step closer to creating an AI platform which makes all talent and labour market data meaningful, actionable and globally accessible for everyone,’ said Gerard Mulder, CEO of Textkernel.

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 rollout operations in the USA through buy-and-build strategies.’

Main Capital Partners
Main Capital Partners is a leading software investor in the Benelux, DACH and the Nordics. Main has almost 20 years of experience in strengthening software companies and works closely together with management teams of its portfolio companies as a strategic partner, in order to realise sustainable growth and build excellent software groups. Main counts over 45 employees and has offices in The Hague, Stockholm, and Düsseldorf. In October 2021 Main has over 2.2 billion euros under management and invested in more than 120 software companies. These companies create jobs for approximately 4,000 employees.

Sovren
Sovren Inc. is a globally leading software developer of enterprise-grade resume/CV parsing and semantic matching / artificial intelligence matching (AIM) technology. Sovren serves a customer base that spans over 1,000 staffing and recruitment agencies, HR software vendors, job boards and large corporations. Sovren’s broad suite of intuitive, accurate and highly efficient recruitment solutions are used by customers across the globe in more than 70 countries. The company is led by its founder and President Robert Ruff and all employees operate out of the United States.

Textkernel
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.

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