Netchemia has bought SchoolSpring, VentureBeat reported. Financial details about the acquisition were not disclosed.
The acquisition, which Netchemia undertook as part of its bid to change how US educators are reviewed and hired, will add to its suite of cloud-based talent management software as well as its workforce. Netchemia's TalentEd suite provides solutions that include recruiting, performance evaluation and record-keeping. As part of the deal, all the 20 employees at SchoolSpring will now be part of the Netchemia team, the report said.
Netchemia Co-Founder and Chief Executive Officer Carlos Antequera said in a statement, "SchoolSpring is a complementary fit, as we share the same values and a similar vision of how to positively affect student achievement. Together, we believe we can have a greater impact on K-12 talent management, including sourcing, recruiting, hiring, developing and retaining the best teachers and school leaders."
Netchemia will now be able to tap the over 600 K-12 schools that are now using the products offered by SchoolSpring. This includes the company's application tracking software as well as its established job board. Since 2000, there were already more than 140,000 jobs posted and 3.4 million applications sent via SchoolSpring's platform, the report said.
Mainsail Partners provided a private equity investment of $6.5 million to Netchemia in May last year. From then on, the latter's clientele had grown to over 2,000 from 1,100. As a result of the purchase of SchoolSpring, Netchemia can now boast of having customers in each state. However, it has no plans of growing the service overseas. Rather, it intends to focus on its US customer base, the report said.
Antequera told VentureBeat, "Our focus continues to be in the United States, where the promise of K-12 talent management is still in its early stages. There is a lot more we can do in our own backyard."
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