Knoxville’s MomSource Network acquired by Birmingham-based Boulo Solutions
By Tom Ballard, Chief Alliance Officer, PYA
A Knoxville start-up that we first spotlighted seven years ago in this teknovation.biz article when it had a slightly different name has been acquired by a Birmingham, AL-based company.
The local entrepreneur is Courtney Jones, and the company that she founded in 2013 and has led as Chief Executive Officer (CEO) is known today as MomSource Network. In an asset purchase transaction announced yesterday, the MomSource team, client, and membership base will be incorporated under the Boulo Solutions brand. Terms were not announced; here’s a link to the online news release.
The two companies – both founded by women – have complementary missions, their leaders have somewhat similar professional backgrounds, and their approach to assisting clients is similar. Delphine Carter, Founder and Chief Executive Officer of Boulo, and Jones are both professionals with children. Each sought to find the ideal work-life blend after becoming a parent. Realizing their situation was a common dilemma for women, they built companies to connect underutilized female talent to progressive employers.
In the case of Boulo, it helps women stay in and return to the workforce, while MomSource is focused on helping women balance their personal and professional needs. Both companies specialize in sourcing and vetting quality candidates for flexible full-time, part-time, and contract job opportunities across the United States. While focused on supporting women, the companies advocate for all professionals – men, military spouses, veterans, and retirees – who prioritize flexibility when choosing an employer.
In that 2015 initial article, Jones shared with us the genesis of the company that she rebranded as MomSource several years after its founding. She knew first-hand what it is like to have a successful career that is interrupted for motherhood. In her case, she and her husband decided some eight years after getting married to start a family, so she took some time off. A few years later, a son was born.
When Jones went back to her corporate job, she was able to negotiate an arrangement that was designed to provide balance in her life, but that was not the case for others. “Is there not a better way,” she recalled asking herself in relation to helping relatively new mothers find the flexibility they need in their personal lives while also resuming their professional careers.
In the news release announcing the transaction, Carter explained that the combination of the two businesses will strengthen and expand Boulo’s presence in the staffing and recruiting industries, effectively tripling its ability to impact the number of women seeking flexible employment across the U.S. Noting that MomSource has several thousand job-seeking members and operates throughout Tennessee and the Southeast, Carter described the acquisition as “an excellent opportunity to expand our business. When I first met Courtney, I immediately knew we had strong synergies. Together, we amplify our abilities to help elevate women in the workforce, especially working mothers. And, with a greater ability to educate companies on what types of work-life blend strategies they should employ, we will help them attract top talent.”
For the engaging and energetic Jones who joins the Boulo team as Chief Revenue Officer, it’s one of those milestone moments in her still young life. “I’m incredibly proud of what the MomSource team has built,” she says. “I look forward to providing additional resources and support to forward-thinking employers and candidates through the expanded Boulo team. It is the next step in our journey to changing the way women work.”
Both Carter and Jones said the expanded capabilities that come from the transaction benefit clients and candidates alike. Current MomSource and Boulo clients gain access to a larger pool of diverse talent. The Boulo team will also have increased bandwidth to service new clients who value diversity and work-life blend. Additionally, individuals actively searching for employment should expect an exponential increase in opportunities through Boulo with some of the region’s most progressive employers.
One of the early investors in MomSource was Chattanooga-based The JumpFund, the all-women investment group that only funds women-led ventures in the Southeastern U.S. In the news release announcing the acquisition, JumpFund General Partner Kim Seals said, “With this transaction, Boulo’s resources will provide even more solutions and services to employers looking to hire best-in-class talent. It’s critical now more than ever before to accelerate the return of women to the workforce, and Boulo’s expanded capabilities will further ensure job seekers’ skills are showcased and matched with quality employers.”
