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The Talent Intelligence era is here: Glickon acquires Teamsight, Italian startup specialized in people analytics
4 april 2023
Founded as a startup in 2014 and now a leader in HR Tech software,Glickon announces the acquisition of Teamsight, an Italian startup specialized in People Analytics. Glickon continues to grow following a Series A investment round in May 2022, with Sinergia Venture Fund investing 3 million euros in the HR Tech company. The recently concluded acqui-hiring process saw Glickon acquire Teamsight’s technology and know-how, in addition to hiring its founders and employees. Glickon issued new, 7-figure shares to finance its acquisition. It is the company’s first M&A, in terms of sizeand strategic importance, and has a significant impact on its business and market positioning.
Glickon’s journey started with gamification, moved to people experience, and is now in the Talent Intelligence era. An era in which data and innovative methodologies to analyze data take center stage. Talent intelligence solutions help organizations observe and concretize their most important asset on hand today – the organization and the people in it. This acquisition, with Sinergia Venture Fund’s strategic support, strengthens Glickon’s existing processes, built on tools such as Organizational Network Analysis and Natural Language Processing, and places the Milanese company at the fore front of its sector.
Glickon aims to take on the challenge of managing and cross-referencing active data – collected through feedback on skills, motivations, and relationships – and passive data, or digital exhaust generated and collected anonymously from daily interactions between people and teams within a company, using collaboration tools such as email, chat, calls, and calendar.
Glickon has become the reference point for both HR heads and corporate governance, providing predictive insights required tomake informed decisions and helping take concrete steps to improve anorganization’s work quality and business. Teamsight was one of the first companies to design a people analytics tool to managers and HRs in Italy. Founded in 2020 the startup, with its platform Iris, offers quantitative dashboards and tailored statistics for people management. Iris, a proprietary digital tool, retrieves and analyzes anonymized passive data created by employees.
The acquisition, finalized by acquiring one of Teamsight’s business units, was managed by Matteo Corte, co-founder and CFO of Glickon, with thehelp of: Portolano Cavallo law firm’s Tommaso Foco and Giulia D’Auriafor legal aspects, M&M Associati’s Davide Motta and Alberto Cafarofor accounting/tax due diligence procedures, and Panetta e Associati’s Lorenzo Cristofaro for GDPR and Compliance aspects. In Teamsight, the processwas managed by Pietro Bonfanti, co-founder and CEO, and Bird & Bird for corporate aspects, with a team led by Francesco Pezcoller, the firm’s venture capital representative, along with the help of Maurizio Pinto and Vanessa Sebastianutti. Gaetano Salvioli and Dario D’Alò assisted Teamsight withtax-related matters. The deal was closed at the Milan Notaries office under the guidance of notary public Giovannella Condò.
“Our mission here at Glickon is to help people work better and live better. Leaders of some of the world’s best companies turn to us daily to make strategic decisions, especially to solve and seize non-traditional problems and opportunities. Their decisions impact the work and lives of thousands of people. We’re excited to combine Glickon and Teamsight’s talent and technology to take mission head on” stated Filippo Negri, CEO and co-founder of Glickon.
Pietro Bonfanti, CEO andco-founder of Teamsight, continued: “we’re excited and proud to be able to continue working on our mission along with Glickon. The combination of Glickon’s decade-strong history in active data and listening solutions, and our solutions to analyze interactions in the workplace and provide quantitative insights will create a more relevant and valuable experience for organizations.”