[STOCKHOLM, Sweden, 28 May 2024] – Jobylon, a leading recruiting software provider in the Nordics, has announced the acquisition of Trustcruit, a SaaS company specialising in recruitment feedback and business analytics technology. The acquisition, supported by private equity firm Verdane, is a first for Jobylon and represents a pivotal milestone in the company’s growth journey.
The acquisition highlights Jobylon’s commitment to delivering innovative, data-driven solutions that enhance recruitment processes for candidates and employers worldwide, with notable clients including KPMG, Koenigsegg, and Scandic Hotels.
With high employee turnover across Europe, attracting and retaining talent is a top priority for companies. Tools that assess candidate and employee experiences are crucial for employers aiming to improve employee job satisfaction and promote overall well-being.
"How employers attract and retain talent will be a central focus in light of job transformations driven by AI and other forces," said Aref Abedi, Jobylon CEO. “This acquisition aligns with our vision of empowering HR teams with data and technology to meet future challenges. We believe in working with the best, and that is what we, candidates, and our customers are getting with Trustcruit – a phenomenal product and a dedicated team."
With over 20 million survey responses from 3 million candidates, employees, and hiring managers worldwide, Trustcruit provides invaluable insights to companies for internal and external benchmarking of candidate and employee experiences. This data is especially pertinent to employers, as around 30% of European workers are considering leaving their jobs within the next 12 months. Having the right data and technology will be key for employers to develop effective strategies to retain talent.
"We’re excited to join Jobylon and look forward to advancing HR technology together. This acquisition will be a game-changer for companies that want to make data-driven hiring decisions that benefit both employees and their business," said Simon Werner-Zankl, Trustcruit CEO.
As part of the acquisition, Trustcruit's team will join Jobylon, with Abedi continuing as the CEO, bringing their expertise and insights to further accelerate product development and customer service efforts. Trustcruit will remain under its current brand, ensuring business as usual for customers and a continued focus on building strong partner relationships.
The acquisition was made possible with the support of Verdane, a prominent private equity firm specializing in scaling B2B SaaS companies. We’ve been following Jobylon’s growth for some time. We are impressed with the product and its impact on the recruitment industry," said Iikka Moilanen, Principal at Verdane. "This investment reflects our firm belief in the strength of Jobylon's leadership team, technology, and growth strategy. This is the first step of an exciting journey and we look forward to supporting Jobylon as it continues to innovate and expand its market leadership."
For more information about the acquisition and Jobylon’s HR technology solutions, visit www.jobylon.com.
About Jobylon:
Jobylon is a Swedish-based provider of talent acquisition software. With a streamlined hiring platform, Jobylon empowers organisations to improve their recruitment processes, enhance their candidate experience, and drive business success. Jobylon receives nearly 50,000 applications weekly through its hiring platform and has over 60,000 users in 80+ countries worldwide.
About Trustcruit:
Trustcruit is a comprehensive recruitment feedback and analytics tool designed for Talent Acquisition and HR departments. With data from over 3 million unique experiences across mid to enterprise organisations worldwide, Trustcruit provides valuable insights and benchmarks candidate and employee ratings to industry standards.
About Verdane:
Verdane is a specialist growth investment firm that partners with tech-enabled and sustainable European businesses. Verdane can invest as a minority or majority investor, either in single companies or through portfolios of companies, and looks to deploy inside two core growth themes; digitalisation and decarbonisation.
Verdane funds hold over €6.9 billion in total commitments and have made over 400 investments in fast-growing businesses since 2003. Verdane’s team of over 140 investment professionals and operating experts, based out of Berlin, Munich, Copenhagen, Helsinki, London, Oslo and Stockholm, is dedicated to being the preferred growth partner to tech-enabled and sustainable businesses in Europe.
Verdane is also a certified B Corporation, the most ambitious sustainability accreditation globally. The firm only backs businesses that pass its 2040 test, which indicates whether the company can thrive in a more sustainable future economy.
Verdane is partly owned by the Verdane Foundation, which is focused on two areas: climate change and more equitable and inclusive local communities.
For more information, contact:
Jobylon:
Areb Abedi, CEOaref.abedi@jobylon.com, +46 70-777 73 27
Trustcruit:
Simon Werner-Zankl, CEOsimon@trustcruit.com, +46 70-774 08 66
Verdane:
Jonathan Bui, Communications Manager
jonathan.bui@verdane.com, +46 76 27 28 100
