Bullhorn acquires Amsterdam-based Textkernel, reportedly for €300M

Bullhorn, a Boston-based company specialising in recruitment software, has acquired Amsterdam’s Textkernel, an AI-powered recruitment and talent management solutions provider.

According to Het Financieele Dagblad, Textkernel has been acquired by the American software firm, valued at over €300M.

Founded in 2001 by Jakub Zavrel and Remko Bonnema, Textkernel specialises in AI-powered recruitment technology. Its solutions automate matching demand and supply in the job market for thousands of recruitment agencies, employers, and job boards.

Textkernel’s offerings include CV parsing, matching, labour market analytics, semantic search, sourcing tools, and a mid-office application for the staffing industry, enhancing efficiency in HR and recruitment processes.

The Dutch company serves over 2,000 customers globally, including eight of the top ten staffing agencies and Fortune 500 companies. The acquisition aims to advance Bullhorn’s AI strategy and support recruiters in digitally transforming their operations.

Accelerating Bullhorn’s AI strategy

The current business environment is marked by intense competition and challenges in finding and hiring top talent quickly. At Engage Boston 2024, Art Papas, CEO & co-founder of Bullhorn, emphasised the necessity for Specific, Enormous, Actionable (S.E.A.) data to fully harness AI’s potential. The acquisition of Textkernel by Bullhorn is pivotal in this strategy.

Textkernel, known for its advanced parsing and matching technologies, is now integral to Bullhorn’s strategy. Textkernel’s solutions, including Labor Market Insights, enhance agency growth and development strategies after current job shortages.

This merger aims to assist organisations in overcoming their talent-sourcing hurdles and capturing new business opportunities. The acquisition also marks a pivotal step in accelerating Bullhorn’s AI strategy, opening up new avenues for innovative solutions to benefit its customers.

Sourcing AI, a strategic focus for Bullhorn

With over two decades of innovation in the recruitment industry, Bullhorn offers cloud-based software that supports the entire recruitment life cycle. From startups to large enterprises, staffing companies use Bullhorn for finding talent, managing payroll, and providing “incredible” candidate and client experiences.

“The Bullhorn Marketplace is home to over 100 pre-integrated staffing-specific solutions that can help recruitment firms tackle any challenge in their workflow,” says the firm.

The global staffing industry, now exceeding $600B in revenue, is expected to accelerate growth in 2024. Against this backdrop, the acquisition represents a “significant” leap forward for Bullhorn in leveraging AI to its fullest extent, benefiting customers and the industry.

Matthew Fischer, President & COO of Bullhorn, says, “As we shared with customers in Vision for Innovation at Engage Boston 2024, Sourcing AI is a huge investment area for Bullhorn, and we are truly excited to embark on this journey with Textkernel.”

“We congratulate CEO Gerard Mulder, COO Guus Meijer, and the entire leadership team at Textkernel and welcome the Textkernel team to the Bullhorn family. This acquisition is a significant step forward for us, and we are committed to maximising its potential to benefit our customers.”

“As we set our sights on the future, I’m optimistic about the impactful solutions that will stem from merging our teams and our shared dedication to advancing AI in the talent-sourcing landscape.”

Editor’s Note: We previously stated that Gerard Mulder is the founder of Textkernel. In fact, Gerard Mulder is the current CEO, having joined the company in 2005. The company was founded in 2001 by Remko Bonnema and Jakub Zavrel. The article has been corrected, and we apologize for any confusion. We are committed to maintaining the highest standards of accuracy in our content.