28 Jul 2020 | 10.33 am
Sonru Acquired By Modern Hire
New US owners for Wexford video tech company
28 Jul 2020 | 10.33 am
Founded in 2007 by Ed Hendrick (pictured), Sonru provides automated video interviewing technology to clients that include DHL, Nestlé, Qatar Airways, Rolls-Royce and Westpac.
Using Sonru’s video interviewing solutions, recruiters can replicate live interviews by setting questions and time-limited reply windows, without needing to be online at the same time as candidates.
In its most recent accounts filing, Sonru Ltd booked a loss of €544,000 in 2018, bringing accumulated losses to €6.4m. Year-end liabilities amounted to €1.3m and net worth was a negative €500,000.
The company had equity invested of €5.8m up to end 2018. Its main backer is Luxembourg-based Saphir Capital Partners, which has invested c.€4.5m since 2014.
Chief shareholders in Sonru in 2018 were Edward Hendrick, Luke Falvey and Fergal O’Byrne and Pat Sweeney. Excluding management, there were 38 people on the Sonru payroll at end 2018.
Sonru’s new owner is headquartered in Wisconsin and was itself formed from the merger of Shaker International and Montage in 2019. Between them, the companies had annual revenue of c.$20m.
Modern Hire has developed an all-in-one hiring platform that incorporates pre-hiring assessments, interviewing technology, scheduling, predictive analytics and other features. Its blue-chip clients include Amazon, FedEx and Walmart.
Speaking about the acquisition, Hendrick (38) said that it was the next logical step for Sonru.
“Sonru chose to join with Modern Hire because of our shared focus on the candidate experience, and a shared commitment to support our clients with consistent innovation,” Hendrick stated. “Modern Hire has transformed hiring to improve both experiences and outcomes. Our combined organisation’s strategic vision is to provide our clients and future clients with the strongest technology, team and reach in the market.”
Brian Stern, president of Modern Hire, said that the acquisition of Sonru has helped form the most comprehensive platform for enterprise hiring.
“Our integration will enable Sonru clients to benefit from continuity of partnership while aligning with a global leader known for its track record and commitment to continued innovation,” said Stern.