Visier’s foray into mergers and acquisitions comes a year after raising $154 million from Goldman Sachs.
Starting Workforce Analysis in Vancouver visor acquired the assets of the Parisian startup Boostrs.
Boostrs is described as an API-first skills mapping engine that plugs into companies’ human capital management (HCM) systems.
Visier’s brand agreement second purchase to date after purchasing the assets of California-based employee experience platform Yva.ai earlier this year to expand its workforce analytics platform.
“If the past 25 years have focused on the customer, we believe the next 25 will focus on the employee.”
Visier co-founder and CEO Ryan Wong told BetaKit that the acquisition of Boostrs’ assets enables Visier to provide broader and deeper skills insights across the talent lifecycle. “The Boostrs team had created a product that integrated well with the Visier platform.”
The Vancouver startup plans to integrate data from Boostrs into Visier, which it says will transform dispersed internal and external workforce data into “a clear picture ‘of the skills employees need to’.” meet the challenges of an ever-changing world”.
Based in Paris and founded in 2017, Boostrs helps organizations support their employees in employment and qualifying training. Its clientele includes Michelin, Thales and PwC.
Visier declined to share financial terms of the deal, which was reached in early October. The deal covers Boostrs technology assets, and Visier has hired 10 Boostrs engineers and data scientists, who will continue to work in Paris, which will become a Visier satellite office. They join the approximately 600 Visier employees worldwide. Visier noted that the acquisition increases its presence in markets like France and Spain.
Founded in 2010, Visier sells workforce analysis and workforce planning software solutions to companies. Visier currently serves 25,000 customers in 75 countries, including Adobe, Bridgestone, Electronic Arts and Uber. The company caters to a wide range of industries, including financial services, healthcare, hospitality, life sciences, manufacturing and technology.
Asked about plans for future acquisitions, Wong told BetaKit that Visier “continually assesses the market and will continue to make acquisitions where it makes sense.” He noted that Visier plans to “double down” on its product growth strategy, which will include both organic and inorganic growth.
“We have experienced incredible growth over the past year, with two acquisitions, new office openings in EMEA and APAC, and strong growth from our customers and partners. We want to continue this momentum throughout the coming year. »
Visier’s foray into M&A comes a year after it was lifted 154 million Canadian dollars in a Series E equity financing from Goldman Sachs at a valuation of $1.2 billion. At the time, Visier claimed to be an already profitable company with a healthy bottom line that only raised capital after Goldman Sachs expressed interest in helping the startup optimize for companies facing new challenges. in human resources in the wake of COVID-19.
“When the pandemic is over, polls indicate there will be a shift in the workforce,” Wong told BetaKit at the time.
“I think it will be headline news that businesses finally wake up in the morning and find that they [have lost] that percentage of their workforce,” the CEO added. “And that’s a real problem. [Visier has] beat that drum, and said and warned that this is happening because of all the data we see.
Visier’s growing clientele over the past year may be proof that Wong’s theory fails. Visier has more than tripled its customer base, from 8,000 in June last year to 25,000 currently.
Visier attributes this rapid growth in part to its two lines of business: direct business sales and its integrated partnerships. A spokesperson for Visier told BetaKit that, “Through our partnerships with eight different HR providers (Zenefits was last announced this week), we provide thousands of organizations with the platform to Visir directly into their dashboards.This means that we can now service organizations with up to 500,000 employees or businesses with even two employees.
For his part, Visier CEO Wong added, “If the past 25 years have been customer focused, we believe the next 25 will be employee focused.”
Featured image courtesy of Visier.