Goldman Sachs backs Talentsoft with €25m

Having reportedly grown by 56% in 2014, Talentsoft intends to use the fresh funds to triple revenues from the current €29m figure to $100m by 2018.

To hit that milestone, the software developer will strengthen its presence in markets such as Singapore and the US, and bolster its 100-strong R&D team. In addition, there are plans to make 120 new hires in 2016 and drive headcount beyond the 500 mark by late 2018.

Previous funding
According to unquote" data, the institutional round is the sixth Talentsoft has seen since being founded in 2007. The company's first backer was French VC Seventure, which deployed €1m in early-stage capital in return for a minority stake in June 2008; the firm followed this with a €1.6m injection in October 2009 to accelerate the business's expansion on the commercial side.

In January 2011, amid reports from Talentsoft that it had tripled in size between 2009 and 2010, a further €3m was injected by Seventure alongside new backer Alto Invest.

A fourth round took place in March 2012, when BPI France became a minority shareholder via a €1m investment. The state investor stayed on board during a €15m fifth round for Talentsoft in September 2013, led by Highland Capital Partners Europe.

Company
Founded in 2007 and headquartered in Boulogne-Billancourt, Talentsoft develops cloud-based software used for HR purposes.

The business services an 800-strong client base via offices in eight European countries and seven locations outside the continent; 60% of its users are based outside France, according to its figures. With a workforce totalling 300 people, the software developer is aiming to hit the €29m turnover mark in 2015.

People
Goldman Sachs' work on the investment was led by David Reis, the executive director who heads the technology team of the firm's merchant banking division. Jean-Stéphane Arcis is Talentsoft's current CEO.

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• Topics
• France
• Expansion
• Technology
• France
• Seventure (SPEF)
• BPI France
• Highland Capital Partners
• Goldman Sachs