Softgarden, a spinout of Saarland University, has been acquired for Investcorp Technology Partners for an undisclosed sum.
Softgarden, a Germany-based human resources software spinout of Saarland University, was acquired by investment management company Investcorp Technology Partners for an undisclosed sum.
The transaction is subject to customary anti-trust clearance. Investcorp conducted the deal through its fourth technology fund.
Founded in 1999 as digital communication agency Fictiondesign, Softgarden has developed a recruitment technology platform, Applicant Tracking System. The software-as-a-service platform enables an automated management of the entire recruitment process, while ensuring data privacy compliance.
Softgarden also operates its own jobseeker’s marketplace that currently counts more than 65,000 candidates and a tool to automatically post job adverts on more than 300 third-party services.
The spinout was co-founded by Dominik Faber and Stefan Schüffler, two graduates from Saarland University.
Investcorp will provide capital to Softgarden to drive further expansion efforts across Germany, Austria and Switzerland, with Schüffler committed to staying involved.
Cipio Partners and Neuhaus Partners injected €3m ($3.3m) in funding in 2015. Softgarden’s shareholders also included Brandenburg Kapital, a subsidiary of Brandenburg state-owned investment bank ILB, though it is not clear when or how much it had invested.
Mathias Heese, chief executive of Softgarden, said: “We are extremely pleased to have found a partner in Investcorp and recognise their expertise in backing technology and software businesses.
“This knowledge, combined with their deep understanding of our business, will help to drive the company’s future growth and innovation. The investment is testament to the attractive business we have built thus far and we look forward to this exciting new chapter.”
