Bullhorn Acquisition, Valuation, Funding & Investors

Bullhorn was acquired by Stone Point Capital in September 2020.

Bullhorn acquisition price

Undisclosed

Acquired by Stone Point Capital · Sep 2020

Bullhorn revenue at acquisition

$220M

Last twelve months · Sep 2020

Cumulative funding Bullhorn raised

$26M

across 1 funding round

Key investors in Bullhorn

  • General Catalyst
  • Highland Capital Partners

Bullhorn Overview

About Bullhorn

Bullhorn is a cloud software company serving the staffing and recruitment industry. It was founded in 1999 by Roger Colvin, Barry Hinckley and Art Papas and is headquartered in Boston, Massachusetts. Its products include applicant tracking and customer relationship management systems, search and matching, automation, middle-office time and expense tools, onboarding, reporting and analytics, and a partner marketplace. Customers are staffing agencies and recruitment firms of all sizes across professional, clerical and light industrial, healthcare and executive search segments. Revenue comes mainly from per-user software subscriptions. The company has widened its platform through acquisitions of recruitment software vendors in the United States, the United Kingdom, Europe and Australia, and it runs a venture programme investing in early-stage staffing technology.


Founded

1999

HQ

United StatesBoston, MA

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$220M (Sep 2020)

Bullhorn Acquisition

Bullhorn was acquired by Stone Point Capital for an undisclosed price on 8 September 2020.

Before the acquisition Bullhorn had raised $26M across 1 funding round.

Stone Point Capital agreed to make a strategic investment in Bullhorn as lead investor, announced in September 2020, with funds it manages taking a majority interest. Terms of the deal were not disclosed, and closing was expected early in the fourth quarter of 2020. Insight Partners and Genstar Capital, the company's existing owners, remained investors in the business. Bullhorn chief executive Art Papas said the existing investors had helped the company more than double its revenue over the previous three years, and Stone Point chief executive Chuck Davis said the firm was attracted by Bullhorn's long-term opportunity. Bullhorn was founded in 1999 and is headquartered in Boston. It provides cloud software for the recruitment industry and said more than 10,000 companies used its platform. It had more than 1,000 employees globally at the time of the announcement.

Bullhorn acquisition details
AcquirerDateType
  • Stone Point Capital
8 Sep 2020PE buyout

Sources: bullhorn.com, huntscanlon.com, en.wikipedia.org

Bullhorn Funding History

Bullhorn has raised a total of $26M across 1 funding round.

Bullhorn funding rounds

Bullhorn funding rounds
DateStageInvestorsRaisedDeal Summary
Jun 2008Undisclosed stageGeneral Catalyst; Highland Capital Partners$26MBullhorn raised USD 26 million in venture funding from Highland Capital Partners and General Catalyst Partners, reported in June 2008. The investment was Bullhorn's first outside venture round of that size and was later described by a company spokeswoman as the full extent of its venture funding. Founder and chief executive Art Papas said the capital would go toward product innovation, service and account management, and expanding the sales and service presence. Bullhorn reached about USD 40 million of revenue by 2012 after the round. Both venture firms later exited when Vista Equity Partners acquired the company in 2012. Bullhorn was founded in 1999 and is a Boston company that makes recruiting and staffing software for staffing agencies and recruiters.

Who has invested in Bullhorn?

2 investors have backed Bullhorn across its funding rounds, including General Catalyst and Highland Capital Partners.


Bullhorn Investors

Investors in Bullhorn by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by Bullhorn

Bullhorn has acquired 18 companies to date.

Last acquisition by Bullhorn was on August 1st 2025. Bullhorn acquired TargetRecruit for undisclosed valuation.


Latest Acquisitions by Bullhorn

TargetRecruit
Kona Search
Textkernel
Mployee
Description
TargetRecruit is a Salesforce-powered applicant tracking system designed for staffing agencies and recruitment firms. Launched in 2008 and New York-based, it integrates front-office CRM with back-office workflows, enabling customizable pipelines for candidate sourcing, placement tracking, and vendor management in industries like IT, healthcare, and finance.
Kona Search is a San Francisco-headquartered enterprise search tool unifying Salesforce data with external repositories like SharePoint and Box. Enabling users to query custom objects, Chatter files, and documents from within Salesforce interfaces, it indexes millions of records for instant retrieval. Deployed by sales teams in Fortune 1000 companies, the platform supports federated search across 50 plus connectors.
Textkernel is an Amsterdam-headquartered provider of AI-powered text extraction and semantic search for HR technologies. The company's multilingual parsing engine processes resumes, job postings, and contracts into structured data. Integrated with ATS platforms like Workday and SAP SuccessFactors, Textkernel enables candidate matching and talent intelligence for global recruitment.
Mployee is a software provider specializing in staffing industry solutions built on the Salesforce platform. The company connects recruiters, candidates, clients, and billing teams through integrated modules. Core offerings include candidate sourcing, employee onboarding, timesheet tracking, and invoice generation. Mployee streamlines workflows from job posting to payroll processing for agencies worldwide. Headquartered in Tel Aviv, the platform enhances visibility across the staffing lifecycle with customizable dashboards.
HQ CountryUnited StatesUnited StatesNetherlandsNetherlands
HQ City
Houston, TX
-
Amsterdam
Rotterdam
Deal Date1 Aug 20256 Sep 202418 Jun 20245 Jan 2024
Valuationundisclosedundisclosed$324Mundisclosed
EV/Revenue
EV/EBITDA

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Bullhorn Competitors

Bullhorn competitors include listed companies like TON Strategy and Sprout Social, and private ones like Axtria, InfoCert, Assembled and LinkSquares.

Public and private companies comparable to Bullhorn
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
AxtriaUnited StatesBerkeley Heights, NJPrivate--$900M-
InfoCertItalyRomePrivate--$695M-
AssembledUnited StatesSan Francisco, CAPrivate--$1B-
TON StrategyUnited StatesUnited StatesPublicly listed$13M($148M)$151M9.5x
LinkSquaresUnited StatesBoston, MAPrivate$20M-$800M40.0x
Sprout SocialUnited StatesUnited StatesPublicly listed$458M($31M)$651M1.2x

Bullhorn Public Comps

Bullhorn is no longer listed, but its public comps include Appier Group, RWS Holdings, Sprout Social, ZoomInfo, Quadient, Rezolve AI, Beijing Quanshi World, Capillary Technologies India, Deluxe and CS Disco.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Appier Group$277M$43M2.9x2.4x18.7x12.9x
RWS Holdings$927M($26M)0.8x0.8x(29.2x)5.0x
Sprout Social$458M($31M)1.3x1.2x(18.9x)7.3x
ZoomInfo$1.2B$326M1.9x1.9x7.3x4.8x
Quadient$1.2B$97M1.1x1.2x13.7x5.4x
Rezolve AI$47M($109M)14.7x2.2x(6.3x)(12.0x)
Beijing Quanshi World$170M($19M)2.6x-(23.7x)-
Capillary Technologies India$78M$13M4.8x3.7x28.9x25.2x

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Common questions about Bullhorn

When was Bullhorn founded?Bullhorn was founded in 1999.
Where is Bullhorn headquartered?Bullhorn is headquartered in Boston, MA, United States.
Is Bullhorn publicly listed?No, Bullhorn was acquired by Stone Point Capital in September 2020.
Who acquired Bullhorn?Bullhorn was acquired by Stone Point Capital in September 2020.
How much funding has Bullhorn raised?Bullhorn has raised $26M across 1 funding round.
What was Bullhorn's last funding round?Bullhorn's last funding round was a $26M undisclosed-stage round in June 2008.
Who are Bullhorn's investors?Bullhorn's investors include General Catalyst and Highland Capital Partners.
Which companies are comparable to Bullhorn?Companies comparable to Bullhorn include Axtria, InfoCert, Assembled, TON Strategy, LinkSquares and Sprout Social.
How many companies has Bullhorn acquired?Bullhorn has acquired 18 companies, including TargetRecruit, Kona Search, Textkernel, Mployee and SourceBreaker.
What was the largest acquisition by Bullhorn?The $324M acquisition of Textkernel in June 2024 is the largest acquisition Bullhorn has made to date.

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