Hireserve acquired by XCD
Exciting news this week as we’re delighted to share that we are joining the XCD HR & Payroll family.
XCD, the cloud-based HR and Payroll software provider, today announces the acquisition of Hireserve, a recruitment software company with a best in breed applicant tracking system.
Founded in 2010, XCD has grown to have over 30,000 users across 35 countries benefitting from its range of Salesforce powered services. Headquartered in Bristol, the tech innovator has a growing workforce of more than 70 employees delivering world-leading, single solution HR and Payroll solutions for clients spanning not-for-profit, private and public sectors.
This strategic acquisition of Hireserve is part of XCD’s goal to expand their capacity and offering, both for new and existing customers. The acquisition has been made possible by a further £3m investment from BGF, the UK and Ireland’s most active investor, following an initial £2m investment at the end of 2020.
BGF’s financial backing enabled the exploration of strategic acquisition opportunities, supporting XCD’s ambitious expansion plans to bolster its sales and marketing capabilities.
Hireserve ATS is a standalone applicant tracking system specifically for in-house recruitment teams and designed to automate, streamline and strengthen the hiring process. This enhances the current recruitment functionality now available from XCD, and current and new clients will benefit from this enriched service and XCD’s remotely accessible, cloud-delivered HR software.
Simon Fowler, CEO of XCD said:
“This development is a huge step on XCD’s business growth journey. We have been looking for opportunities to develop our offering and the synergy between XCD and Hireserve makes this acquisition a perfect fit. Our growth and progression would not have been possible without the funding from BGF. We’re looking forward to welcoming the Hireserve team onboard and working towards a successful future.”
Jeremy Ovenden, Joint-MD of Hireserve said:
“We are thrilled to be joining with XCD. The vision and leadership that XCD brings to Hireserve will unlock even greater opportunities for both our people and our clients.
We are incredibly proud of what our dedicated team have built over the last two decades, and are now delighted to have found an organisation which shares our values and belief in Hireserve. We look forward to seeing the next stage of Hireserve’s journey as part of the XCD portfolio.”
BGF was set up in 2011 and has invested £2.5bn in more than 400 companies, making it the most active investor in the UK. BGF is a minority, non-controlling equity partner with a patient outlook on investments, based on shared long-term goals with the management teams it backs. BGF invests in growing businesses in the UK and Ireland through its network of 16 offices. In 2018, Canada launched its equivalent – the Canadian Business Growth Fund – and in 2019, Australia did the same, both based on BGF’s funding model.