Vurv Technology

In 1996, a full decade before the cloud became a household term, Derek Mercer founded a company in Jacksonville, Florida, called Recruitmax. The company started by providing client-server applications before pioneering its way into the on-demand software model, what we now call SaaS. Initially focused on recruiting software, the company saw an opportunity to build a much broader platform. The playbook shifted in the mid-2000s. After securing over $28 million in funding across two rounds, the company began to expand its capabilities. It acquired companies specializing in compensation management, job competencies, and performance management. This evolution prompted a rebranding in 2006; Recruitmax became Vurv Technology, a name derived from 'verve' to signify energy and a broader scope beyond just recruiting. Vurv's strategy was to create a unified platform for the entire talent lifecycle, from hiring to off-boarding. By early 2007, CEO Derek Mercer had ambitious goals: grow revenue, make more acquisitions, and potentially take the company public. The company was gaining traction, serving over 1,700 customers with its comprehensive suite of tools for recruitment, onboarding, performance, and compensation. However, the IPO playbook had a final plot twist. In May 2008, competitor Taleo announced it was acquiring Vurv for approximately $129 million in cash and stock. The deal was a significant moment in the talent management market, combining two major players. Instead of an IPO, Vurv's journey culminated in an acquisition that consolidated the industry and integrated its pioneering talent management solutions into Taleo's larger platform.