TPG Growth, The Rise Fund to make majority investment in Greenhouse Software

TPG Growth and its global impact investing platform The Rise Fund will make an undisclosed majority investment in hiring software provider Greenhouse Software Inc., a Jan. 14 news release said.

Greenhouse Software will use the deal's proceeds for product innovation, to expand into new markets and to enhance services that help improve diversity, equity and inclusion in hiring.

The transaction is expected to be completed during the first half of 2021, subject to customary closing conditions.

In line with the deal, TPG Growth Partner Mike Zappert, The Rise Fund Co-Managing Partner Steve Ellis and TPG Chief Human Resources Officer Anilu Vazquez Ubarri will join Greenhouse Software's board.

Greenhouse Software tapped Goldman Sachs as exclusive financial adviser on the transaction, with Cooley LLP as legal counsel. TPG hired Vinson & Elkins LLP as legal counsel.

Private equity firm TPG Growth is a unit of TPG Capital LP.