Acquisitions / Business / HR / Investing

Phenom’s made its 4th acquisition in 16 months as the HR tech biz expands its European reach

An IPO is still on the horizon for the Ambler-headquartered — but increasingly international — company, but its leaders are staying mum on when to expect it.

Phenom employees at its IAMPHENOM conference in 2020. (Courtesy photo)

In the first half of 2021, HR tech company Phenom announced three acquisitions as it bolstered its business for an inevitable IPO. And here comes the fourth: Today, the Ambler-based company announced it has acquired 2013-founded Tandemploy, a Berlin-based HR tech company focused on solving key problems associated with employee experiences.

The addition enhances Phenom’s AI-powered Talent Experience Management (TXM) platform’s capabilities and grows its presence in Europe, the company said.

Phenom aims to streamline and personalize the hiring process, including for applicants and recruiters. The acquisitions at the end of 2020 and in 2021 upgraded the company’s platform to include video integration, data optimization and omni-channel interview scheduling features. Tandemploy’s featured technology is a matching algorithm that recommends pairings among peers, mentors, project leaders and subject matter experts by analyzing skills-based data and individual goals. Its European customers use it for employee belonging and for advancing organizational-wide goals.

“Tandemploy has a single purpose and passion for building amazing moments that matter within the employee experience,” said Mahe Bayireddi, cofounder and CEO of Phenom, in a statement. “Their extensive influence, remarkable technology and renowned company culture fit seamlessly with Phenom and will rapidly accelerate our growth in EMEA [Europe, Middle East, Africa]. We’re thrilled they chose to continue transforming the industry by joining us.”

Following a $100 million Series D and $1.4 billion valuation last year, Bayireddi told in April that an IPO was likely to happen “soon.”

“Going public is definitely a part of that journey, there’s no doubt about it,” he said then.

But even with this new deal in the books, the company is not yet sharing more details about when to expect it.

“We continue to monitor market conditions closely and make strategic growth decisions after reviewing all the data and information at our disposal,” Phenom Public Relations Manager Dan Norton said. “As we’ve previously stated, an IPO is likely in our future. However, we have no updates at this time.”

The addition of Tandemploy to Phenom widens the Ambler company’s reach in Europe and adds a second German office. It also expands its operations in the United Kingdom, Ireland, Netherlands, France, Italy, Spain, Sweden and Switzerland. The Tandemploy team will transition over to Phenom, including cofounders and co-CEOs Anna Kaiser and Jana Tepe.

“We love that Phenom’s purpose is to help a billion people find the right job,” Tepe said in a statement. “Tandemploy’s platform is always evolving, and we’re also focused on one goal — how we can best promote a more human, fulfilling and productive working world.”

Companies: Phenom

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