ServiceNow acquired Talent Management Software Company Hitch Works

ServiceNow acquires Hitch Works, a cloud-based software company that helps customers determine which employees are best suited for projects based on skills and interests. The financial terms of the deal were not disclosed.

This is the technology M&A deal number 527 covered by ChannelE2E so far in 2022.

ServiceNow Workflow Strategy

ServiceNow is perhaps best known for its IT service management (ITSM) software capabilities-which mid-market MSPs embrace for co-managed services.

Conversely, the acquisition of Hitch Works is part of a larger strategy in the ServiceNow Employee Workflow portfolio. The goal is to “support employees at every stage of their careers, including Employee Journey Management, enabling employee learning and workflow feedback.”

Hitch Works, founded in 2017, is based in Seattle, Washington. The company has 45 employees listed on LinkedIn. HR-industry veteran Kelley Steven-Waiss, who served as CHRO and CIO of HERE Technologies, founded Hitch. The company is led by CEO Heather Jerrehian, a serial entrepreneur and one of the founders of venture capital firm, How Women Invest,. Steven-Waiss and Jerrehian are expected to remain with ServiceNow after the acquisition, the buyer said.

ServiceNow will build Hitch’s capabilities on the Now Platform, starting with its Employee Workflow solutions, the consumer said. ServiceNow also expects to later expand Hitch’s features across its entire portfolio for customer service, IT, and developers, the buyer added.

Meanwhile, in IT By Design for MSPs: In some ways, the ServiceNow-Hitch Works deal parallels similar work in the IT By Design MSP market. In fact, IT By Design is developing Team GPS, a cloud-based application designed to assist MSP employees on their career journeys. Note capabilities include: Team GPS helps MSPs manage their employees; job performance and satisfaction; worker culture; and overall business planning, Kam Kaila, president of IT By Design, told ChannelE2E in 2021.

ServiceNow acquired Hitch Works: Executive Perspectives

In a prepared statement about the deal, Gretchen Alarcon, vice president and general manager of HR Service Delivery, ServiceNow said:

“If skills are the new money for the business, insight into these skills is essential in driving talent retention and adapting to evolving business needs. But management skills have previously been siloed. , with multi-point solutions and fragmented processes that don’t work together. At Hitch, ServiceNow will streamline intelligence skills into a platform to help business leaders match employees to meaningful work. “

Jerrehian added:

“AI-powered skills intelligence is the foundation for the future of work. The merger with ServiceNow enables us to measure our capabilities and talent mobility solutions in a global ecosystem of business leaders, managers, and employees. Together we will make work more meaningful and purposeful for employees and deliver better business results for companies. “

Steven-Waiss concludes:

“A productive and dedicated worker is the greatest asset of an organization. As we emerge from the pandemic and face the challenges of the Great Resignation, the employee experience is the key difference in winning 21st century talent. ServiceNow will advance the vision of Hitch on creating the next generation of solutions with workers and skills. ”

ServiceNow expects to complete the acquisition in Q2 2022.

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