On path to IPO, Bullhorn acquires San Francisco company


Boston recruiting software company Bullhorn today announced its first acquisition of a West Coast company, The Code Works of San Francisco, and said the company’s founder, Jonathan Novich, will be moving to Boston.

The other five members of the team at The Code Works will remain in San Francisco, giving Bullhorn its first office in California, said Bullhorn founder and chief executive Art Papas.

Terms of the acquisition weren’t disclosed. Bullhorn now employs 356 overall, with about 250 of the employees in Boston.

The Code Works will let Bullhorn more easily connect its recruiting software to other software systems, allowing more data to to be pulled into the Bullhorn database, Papas said. That could allow, for instance, a Bullhorn user to get alerts when anything changed on a certain website they were interested in (such as a corporate leadership page).

The acquisition is the fourth for Bullhorn, which itself was acquired by a private equity firm, Vista Equity Partners, in 2012.

Bullhorn saw $67 million in revenue last year, up from $45 million in 2012. The company expects “roughly similar” growth this year, Papas said, and will begin looking seriously at an initial public offering within 18 months. “We’ll be close to $100 million (in annual revenue) at that point, and that’s where it’s got to be these days. We’ll be more mature in terms of profitability and in being able to absorb the costs of being a public company,” Papas said.

Illustration of a woman holding a bullhorn via Shutterstock.

Kyle Alspach has worked in journalism in Massachusetts since 2005 and was one of the original staff writers at BetaBoston.
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