HR-Friend acquires Varbi to the newly formed HR tech group

Picture from left: Rickard Kajson, CEO HR-Friend and Magnus Mollstedt, CEO of Varbi

HR-Friend, Viking Venture’s latest acquisition, consisting of Workbuster and Grade, is happy to welcome Varbi to the newly formed HR tech group. HR-friend is building a best of breed group within HR software which will offer customers solutions for talent acquisition, onboarding and talent management; Varbi is a perfect match in this respect. Viking Venture is the lead investor in HR-friend.

 – Varbi’s strong position as a leading applicant tracking system in the public and enterprise segment gives us a solid platform and the possibility to create more value for new and existing customers. It’s a great match and strengthens the group’s position in the Nordic HR Software market, says Rickard Kajson the CEO of the newly formed group.

– It was an easy decision for us to join forces with Grade and Workbuster as it is a perfect product fit between the three companies. As a group we will be able to strengthen the product offering to existing and new customers and deliver a comprehensive wall-to-wall solution for Nordic HR departments. This gives us a great foundation for further domestic and international growth, says Magnus Mollstedt, CEO at Varbi.

– The HR software market is very attractive as digital solutions becomes increasingly important. The acquisition of Varbi will strengthen our position as the Nordic market leader. Together with Grade and Workbuster, Varbi is a perfect addition to our exciting growth journey, says Joar Welde, Partner at Viking Venture and Chairman of the board of HR-friend.

In 2020, the combined sales of the group were over SEK 100 million, with more than 70% recurring revenue. Viking Venture is the lead investor of the newly formed group together with existing owners and employees.

About Varbi

Varbi, founded in 2007, is a leading applicant tracking system (ATS) solution and recruitment marketing provider to public and enterprise customers in the Nordics and Benelux. By building meaningful and value adding relationships with customers, candidates and partners, and offering a comprehensive recruitment tool for the public sector and enterprise customers, Varbi has been one of the fastest growing ATS SaaS suppliers in the Nordics in recent years.

About Grade

Grade, founded in 1995, is a Learning and Talent Management Platform. The “Company Formula” is Engagement x Competence = Results. The product portfolio includes functionality for onboarding, e-learning, instructor-led training, authoring tool, performance reviews, objective management, competence management and pulse surveys.

About Workbuster

Workbuster, founded in 2008, offers an HR solution to strengthen employer branding, attract and engage the best candidates and improve the quality of the selection process as well as being the leading platform for private employment services in Sweden. The company is a modern SaaS supplier who provides their customers with a strong advantage in attracting and hiring the most talented people by simplifying the application process.