Recruiting company HeadHunter has increased

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HeadHunter has become the owner of a majority stake (60%) in the Russian developer of personnel electronic document management systems (KEDO) HRlink. The deal amounted to 1.5 billion rubles, Forbes learned
its stake in the Russian service HRlink, which allows businesses to sign documents with employees electronically. It has grown from 9.09% to 60%. As a result of the deal, the project's algeria whatsapp number databa se co-founders Alexander Monosov, Anna Korchminskaya and Dmitry Kislitsyn left the startup. Previously, they owned 18.19%, 9.07% and 4.55% of the business, respectively.

The parties did not disclose the amount of the deal. According to a source familiar with its details, it was in the range of 1–1.5 billion rubles. Under the terms of the deal, HRlink will retain autonomy within the HeadHunter ecosystem and will continue to develop its own strategy, in particular, to release new HR products.

Head of M&A at HeadHunter, Yan Stirmanov, called the purchase a logical stage in the development of the HR ecosystem, which the recruiting service is building around a platform for finding jobs and employees: "It already includes services for personnel selection and management (Talantix, Skillaz), employer brand management (Dreamjob), as well as employee training and assessment (Edstein)."

The deal will help HeadHunter increase its presence "in one of the fastest growing segments" of the HRTech market — personnel electronic document management or KEDO — and thus strengthen its offer in the field of comprehensive HR automation, the company added. According to its forecasts, the niche will grow by 30-40% per year in the next three to five years — including due to the possible requirement for mandatory transition to personnel electronic management in the next few years. The company estimates the potential market size at 10 billion rubles.

HeadHunter received a minority stake (9.09%) in HRlink in 2022, when it invested 100 million rubles in it. The startup's co-founder Dmitry Arzhevsky latertoldForbes, that he was not looking for investors, but accepted the recruiting service's offer because he was interested in a strong strategic partner in the HR market. HeadHunter then explained the investment by saying that they were building a HR ecosystem and wanted to integrate HRlink into it.