TempBuddy set for exponential growth following acquisition by Symphony Technology Group
Contingent workforce software innovator joins STG’s expanding HCM portfolio
DUBLIN – 6 Dec 2016 – TempBuddy, contingent workforce software innovator, is named as the latest acquistion by private equity firm, Symphony Technology Group, effective 23 November.
Founded in 2003, STG has a successful history of building leading global companies at the intersection of software, analytics and services with a strong presence in the Human Capital Management (HCM) software and services space.
Rod Smyth, CEO and founder, TempBuddy, said: “I’m genuinely excited and honoured for TempBuddy to become part of STG who will help us navigate our journey from award-winning start-up to a globally recognised work enabler. The acquisition is a true testament to the originality of our staffing software that helps agencies get their best people to the right place at the right time. With such a strong financial backer to fuel our continued technogical innovation and service delivery, large staffing companies can be confident in our future growth trajectory.
Smyth continued: “We have been talking to investors for some time and STG offered by far the best cultural fit and strategic platform to help us continue to develop our business, as well as the highest value. This is what all start-ups strive for: three years to the day from founding we have successfully sold to an entrepreneurial technology group who will support and accelerate our vision to make flexible work easier and more rewarding.”
William Chisholm, Managing Director and Chief Investment Officer, STG, commented: “TempBuddy’s unique contingent workforce software is a welcome addition to our extensive HCM portfolio that includes First Advantage – the largest global background screening provider, Symphony Talent (which includes the Bernhard Hodes Group), Bond International Software and the UK analytics provider, Innovantage. We now offer employers and staffing organisations a holistic suite of services and solutions across the talent management space.”
Sunit Mukherjee, Principal, STG, added: “catering specifically for the rising contingent workforce, and designed with a candidate and mobile first approach, TempBuddy is poised to be a market leader with STG’s backing and input.”
TempBuddy seeks to reimagine the deployment and management of temporary workers by tapping into the ubiquity of mobile devices, plus other technological advances such as biometrics and geo-tagging. Their game-changing platform and worker app have already been adopted by users in over 900 cities across 3 continents. They are looking to expand their team with an additional 20 staff by the end of 2017.