Company makes third acquisition in 2020 and seventh in last 18 months
Today, Advanced announced that it has acquired Clear Review, a global performance management and employee engagement software company whose customers include Virgin Money, RICOH, Café Nero, HarperCollins and Waltham Forest Council. This is Advanced’s third acquisition of 2020 and extends its Human Capital Management capability centered around Cloud HR which now supports the entire employee lifecycle from recruitment to retirement. The acquisition further supports the company’s ambition to become the number one provider of business software solutions in the UK while expanding its global reach.
Clear Review, which was founded in 2016 by Sony’s former International HR Director Stuart Hearn, has built a strong reputation over the past four years for its innovative Continuous Performance Management platform. It offers Software-as-a-Service people performance management and engagement software tailored for today’s remote working environment with a scientifically backed wellbeing monitor. The software is used by managers and employees at 300 mid-market and large customers globally (UK, US, Europe and APAC).
Clear Review was named top of the ‘EU Start Ups to Watch’ list by eu-startups.com in 2019 and has been recognised for its commitment to customer service – winning this year’s TIARA Talent Tech Customer Service Award and Tech ‘Champion of Champions’ Award.
Advanced’s acquisition comes six months after the acquisition of Tikit, a global legal, accounting and professional services software business, from British Telecommunications Group plc (BT), and just days after its acquisition of Mitrefinch, a global workforce management company. It is the fourth transaction since the firm received an investment from funds advised by BC Partners and Vista Equity Partners to accelerate growth in August 2019. The two most recent acquisitions have both been completed during the global pandemic.
Gordon Wilson, CEO of Advanced comments: “Covid-19 has forced over half the UK’s workforce to work from home – something that is likely to continue as our normal - and so the ability for managers to continuously develop and improve their people’s performance remotely is paramount to the success of every organisation. Vital too is that organisations can ensure they have engaged workforces and that their wellbeing is supported. Clear Review’s technology gives managers the tools to do all these things whilst being extremely complementary to our existing Human Capital Management solutions which is an area of priority for us. For both our existing and new customers this acquisition enhances their ability to empower managers to accelerate their talent management strategies.”
Alex Arundale, Chief People Officer at Advanced comments: “It’s critical employees feel supported and engaged, particularly as workforces navigate the challenges of remote working. Tools which deliver transparent real-time feedback, drive employee engagement and give individuals a deeper understanding of their role and development in turn builds higher performing teams - regardless of their location.”
Stuart Hearn, Founder and CEO of Clear Review, says: “We’re extremely proud of the success of our Clear Review platform and its role in improving business performance and developing talent around the world. The acquisition provides a great opportunity to accelerate Clear Review’s growth as well as integrate with Advanced’s HR solutions, helping organisations retain their best talent and increase performance.”