#United States #Austin #AI recruiting #Loxo #Tritium Partners

Loxo Secures $115 Million in Growth Investment

In a groundbreaking development for the recruitment technology industry, Loxo, a prominent talent intelligence platform, has announced the successful closing of a $115 million growth investment led by Tritium Partners. This funding is set to propel Loxo's efforts in expanding its range of AI-powered recruitment solutions and strengthening its position in the market.

Founded as a comprehensive solution for managing the recruitment life cycle, Loxo offers a horizontally integrated suite of AI-driven products known for optimizing recruitment processes. This investment signifies a transformative moment for the company, underlining its vision to innovate the recruitment landscape with cutting-edge technologies.

According to recent market research commissioned by Tritium Partners from a respected global consulting firm, Loxo has garnered high praise from recruiters in both the US and UK. Survey results indicated that Loxo received the highest net promoter score among leading Applicant Tracking Systems (ATS). Furthermore, recruiters ranked Loxo first in AI-inspired features, user satisfaction, and ease of implementation, marking it as a frontrunner in the recruitment technology space.

Matt Chambers, CEO of Loxo, remarked on the significance of this investment, stating, "This partnership represents a key milestone for Loxo, affirming our commitment to pushing the limits of recruitment technology. With the support from Tritium Partners, we aim to expedite our innovation efforts and deliver superior AI-enhanced tools for our users."

Chris Steiner, a partner at Tritium Partners, expressed confidence in Loxo's potential to lead the way in intelligent hiring solutions. "We view Loxo as a pioneer in the recruitment sector, uniquely positioned to meet the increasing demand for sophisticated hiring technologies," he noted. This collaboration aims to accelerate Loxo's growth trajectory, allowing for the swift advancement of its product offerings.

In conjunction with this investment, Loxo has appointed Paul Bartlett as its Executive Chairman. With over two decades of experience in building technology enterprises focused on enterprise solutions, Bartlett's leadership is expected to guide Loxo's strategic expansion initiatives effectively. He previously served as the CEO of CloudPay, a provider of global payroll and payment solutions.

Barlett stated, "Joining Loxo is an exciting opportunity. I am eager to collaborate with the team to furnish recruiters with the most intuitive AI-powered tools available worldwide. The recruitment industry is undergoing a rapid transformation, primarily driven by the integration of AI technologies, enhancing workflows and interactions."

About Loxo

Loxo stands at the forefront of the recruitment technology industry as a leader in talent intelligence platforms. Its products encompass an ATS, an AI Recruiting CRM, and a powerful search engine providing access to over 750 million individuals—all coupled with seamless contact information. Loxo's instant AI sourcing and multi-channel recruiting solutions simplify the intricacies of identifying and engaging top-tier talent, revolutionizing traditional recruitment methodologies.

About Tritium Partners

Founded in 2013, Tritium Partners is a prestigious private equity firm specializing in technology and service sectors with high growth potential. By partnering with exceptional founders and executives, Tritium aims to cultivate market-leading companies through effective growth strategies while ensuring capital efficiency. With approximately $1.5 billion in committed investments to date, Tritium focuses on fostering long-term value through strategic developments and acquisitions across various industries, including fintech, software data analytics, and tech-enabled business services.

In summary, Loxo's recent investment led by Tritium Partners marks a pivotal moment in the company's journey, poised to enhance its AI-based recruitment capabilities and solidify its leadership in the talent intelligence space.