BGF backs Sheffield-headquartered Tribepad with £12m investment

A business software provider which helps companies develop a fair and efficient recruitment system is set for expansion after securing backing from one of the UK’s largest growth capital investors.
By Greg Wright
Published 1st Feb 2023, 08:08 BST
Updated 1st Feb 2023, 08:08 BST

Sheffield-based Tribepad has secured a £12m investment from BGF, which it will use to increase its market share. BGF, which was established in 2011, has invested around £3bn in more than 500 companies. Founded in Sheffield in 2008, Tribepad, which employs 48 people, has developed a “talent acquisition platform” which supports the hiring process for some of Britain's biggest companies. Its software is used by more than 125 organisations including Tesco, the BBC, Grant Thornton, Subway and NHS professionals.

A spokesman said: “Tribepad’s talent acquisition platform combines application tracking system technology with recruitment advertising, video interviewing, data insights and equality, diversity and inclusion tools. Today, more than 25m people worldwide use Tribepad’s software to power their job searches.”

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The spokesman said that the need for technology to support traditional recruitment processes was brought to the fore during the pandemic, while a shrinking UK labour force has created shortages across many sectors in recent years.

(L-R) Neil Armstrong, Chief Commercial Officer, Tom Webb, Chief Operating Officer and Dean Sadler, CEO, Tribepad(L-R) Neil Armstrong, Chief Commercial Officer, Tom Webb, Chief Operating Officer and Dean Sadler, CEO, Tribepad
(L-R) Neil Armstrong, Chief Commercial Officer, Tom Webb, Chief Operating Officer and Dean Sadler, CEO, Tribepad

The statement added: “With BGF's investment, Tribepad will be able to scale its offering, enabling even more companies to recruit the right people effectively and fairly, as well as developing new features and functionality that will enhance the overall user experience.”

Commenting on the deal, Tribepad’s CEO, Dean Sadler, said: “Tribepad is driven by the simple aim of making the recruitment process better and fairer for everyone.

"Our software is proven to generate positive outcomes for candidates and employers, so that the right people are hired for the right jobs. “Having grown the business organically since inception, we wanted to find an investment partner that understood our proposition, recognised the market potential and could help turbo-chargeTribepad’s growth. BGF’s team have delivered on this from the start, and I look forward to working closely with them on the next stage of Tribepad’s growth journey.”

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The deal was led by Rob Johnson and Linda Nguyenova, who are investors in BGF’s Yorkshire team.

As part of the investment, Andy McRae, who is part of BGF’s Talent Network, has been appointed as non-executive chair. The deal will also see Tribepad’s co-founders Alexis Twigg and Dan Kirkland step down from their roles to pursue other interests.

BGF’s Rob Johnson said: “Tribepad has built a feature-rich platform that’s helping organisations across the country improve their ability to source and attract talent.

"The business is well-positioned to capitalise on favourable market tailwinds that are driving ever greater adoption of recruitment technologies as organisations look to succeed in what is an extremely tight labour market. With the support of BGF and Andy McRae as non-executive chair, I’m excited to see what Dean and the team can achieve and I look forward to working closely with the business over the next few years.”

The advisers to BGF included Squire Patton Boggs and the Tax Advisory Partnership. Tribepad was advised by teams from KPMG in connection with this deal.

Related topics:BGFSheffieldBBCNHSGrant Thornton