Impellam Group acquires Flexy, an AI powered staffing platform
LONDON: Impellam Group PLC, the 2nd largest staffing business in the UK and 6th largest MSP worldwide has acquired Flexy Corporation Limited, a leading flexible staffing platform based in London.
Founded in 2015, Flexy uses psychometrics, machine learning, and nudge theory to unlock local talent. It was designed and built by a team of psychologists, recruitment experts, and digital architects to streamline the casual labour market. Flexy enables meaningful connections between companies looking for flexible labour and individuals looking for flexible work.
Flexy provides an innovative, data-driven analysis platform to provide insights and consumer-grade digital experiences. The efficiency gained through the utilisation of technology combined with Impellam's deep staffing experience will augment our portfolio and service offering to customers and candidates.
Impellam will pay approximately £3 million in cash for the business up front, which generated revenue of £626k in the financial year ended 30th April 2019 and has achieved compound annual growth of 175% over the past two years. Additional consideration may be payable to the vendors of Flexy subject to achievement of future performance conditions.
Oliver Crofton, Managing Director, Flexy, added: "We are delighted to be joining Impellam and to sit alongside such trusted recruitment brands. We developed Flexy to help companies leverage the power of technology to reach local candidates, and now with the backing of Impellam, we can accelerate our growth in this exciting and evolving recruitment landscape".
Julia Robertson, Group CEO, Impellam Group: "The strategic partnership with Flexy combines digital capabilities and technologies with our current portfolio's deep heritage and expertise; to offer new solutions, more choice, and better, technology-led experiences for customers and candidates alike".