Adecco Group acquires recruiting startup Vettery for $100M

The Adecco Group, a global HR services firm headquartered in Switzerland, announced today that it has acquired Vettery.

The financial terms were not disclosed, but a source with knowledge of the deal told us that the price was a little over $100 million. (It’s not clear how much of that is cash versus stock.)

We’ve reached out to the Adecco Group for confirmation and will update if we hear back. (Update: A spokesperson responded that the company isn’t sharing financial details.) A Vettery spokesperson declined to comment.

Vettery was launched in 2014. Shortly after that, co-founders Brett Adcock and Adam Goldstein told me they were hoping to reinvent the traditional recruiting process. They created a marketplace where job candidates browse offers, schedule interviews with the employers that interest them and receive a signing bonus from Vettery when they take a job — all assisted by an on-staff “talent executive.”

The company says it now works with more than 4,000 employers to fill positions in IT, sales and finance. It’s raised a total of $11.9 million from investors, including Greycroft and Raine Ventures.

According to Adecco, Adcock and Goldstein will continue to lead the Vettery team.

“The acquisition of Vettery accelerates the development of the Adecco Group’s digital strategy, broadening our offering into the fast-growing digital permanent recruitment market and complementing our professional recruitment businesses,” said Adecco Group CEO Alain Dehaze in the acquisition release. “Digital innovations have the potential to transform the recruitment industry and the Adecco Group is taking the lead.”

Recent Adecco acquisitions include life sciences staffing company BioBridges and career transition firm Mullin.

Featured Image: Vettery