Talentwise, the Seattle area company that helps employers complete background checks on potential recruits, has been acquired SterlingBackcheck.
Terms of the deal were not disclosed, though Talentwise founder Naveen Jain said it was a “significant exit” that was at least two times bigger in size than Intelius, the consumer-oriented company that Jain also founded and which sold last year to private equity firm H.I.G for $100 million to $200 million.
Talentwise split into an independent company a few years ago with its own management team, though Jain remained the largest shareholder.
Talentwise raised $25 million in 2013, and it has been recognized as one of the fastest growing tech companies in Washington state. It was previously listed as #18 on the GeekWire 200, recognizing the biggest privately-held technology companies in the Pacific Northwest. (Given the acquisition, Talentwise will now be removed from the list).
Jain, who previously founded InfoSpace, said the acquisition by SterlingBackcheck makes a lot of sense, since SterlingBackcheck is a leading services company and Talentwise is a leader in technology as it relates to background screening. Bringing on Talentwise creates a solid technology underpinning for the combined company.
SterlingBackcheck was founded in 1975, and it now boasts more than 3,000 employees. In June 2015, Goldman Sachs and La Caisse de dépôt et placement du Québec (CDPQ) acquired a majority interest in the company.
Based in Bothell, Talentwise employs nearly 500 people.
“TalentWise’s impressive track record for growth and numerous achievements and accolades are a direct result of its talented leadership team, dedicated employees and commitment to continuous innovation and customer satisfaction,” said Clare Hart, SterlingBackcheck’s chief executive officer, in a statement. “By uniting TalentWise’s modern customer experience with SterlingBackcheck’s powerful screening platform, we will be able to better serve clients and applicants around the globe.”
