Talent management provider Authoria announced Monday that it is being acquired by Bedford Funding for $63 million. This news is big among corporate recruiters, naturally, who wonder about the next phase of growth for Authoria, a company that started in 1997 and counts Aetna and Intuit, among others, as clients.
The private-equity firm will also help Authoria with an additional $8-million investment in working capital to enhance Authoria’s overall corporate growth, according to the company.
Josh Bersin, president of Bersin & Associates, a research and advisory firm, calls this “the next big software opportunity” as talent management — and the role of recruiters — certainly is changing.
This announcement is also “an affirmation that a comprehensive view of talent management is of interest to the investment community,” points out Nina P. McIntyre, Authoria’s senior VP of marketing.
“Recruiters need to take a broad view of talent management, not only attracting talent but developing internal talent pools and quality of hire as they are all becoming so closely related,” says McIntyre.