The HR Tech sector has had thousands of start-ups that have successfully emerged and carved a niche over the years, with the intent to help HR Departments all around the globe. Investors all over the world have invested in emerging HR tech start-ups gathering over 48 billion USD, half of which was funded over the last three years. Some of the biggest HR tech global funding highlights: –
Zenefits aims at providing software to HR Departments in smaller to mid-sized companies and organisations. Founded in 2013 in San Francisco, this cloud-based software provides innovative, as well as intuitive services that include payroll software to different companies. Investors like Fidelity Investments, IVP, Insight, Andressen Horowitz, Founders Fund and others have provided funding to Zenefits that totals 596 million USD.
PayFitis is an HR tech provider founded in 2015 in France. PayFit provides HR software to different companies and organisations that help to resolve issues efficiently through technology and human expertise. PayFits has received 100 million USD in funding from different investors like Frst Capital, Accel and Otium Venture.
Personio was founded in Germany in the year 2015. It provides Human Resources Management software to smaller companies with the aim to improve and excel in all HR operations. Index Ventures, Northzone and others have invested in Personio and provided up to 52 million USD in funding.
Eightfold.ai is a talent intelligence platform founded in 2016. This Indian based company has been inspired by Buddhist ideals and aims to encourage individuals to work towards the career path of their choosing. Foundation Capital, Lightspeed Venture Partners, IVP and General Catalyst are investors that have provided 55 million USD in funding to Eightfold.ai.
CollectiveHealth is a platform for employers to sponsor self-insurance to their employees. Founded in the United States of America in the year 2013, CollectiveHealth has evolved how health benefits work in the country. With investors like SoftBank Investment Advisers, DFJ Growth, Redpoint, NEA, Sun Life Financial, Founders Fund and others, this platform has had 435 million USD in funding.
Andela is a software provider that provides tech training and employment solutions. Different companies and organisations have been able to build teams remotely and quickly while being cost-effective. Founded in 2014, this American provider has received 180 million USD from different investors like Generation Investment Management, GV, Serena, Spark Capital, Chan Zuckerberg Initiative, Peak Ventures, Salesforce Ventures and others.
BetterUp’s mission is to provide people clarity, purpose and passion to people who are pursuing something in their lives. This American mobile platform was founded in 2013 for social and emotional training in different organisations and companies everywhere. Lightspeed Venture Partners, Freestyle Capita, SV Angel, Crosslink Capital and Social Capital are the names of just a few investors who have provided BetterUp with 146 million USD in funding.
Reflektive is an HR tech provider founded in the year 2014 in the United States of America. Investors like TPG, Andreessen Horowitz and others have provided funding worth 102 million USD to this company performance platform. In addition to company performance, Reflektive also provides real-time feedback which increases engagement. This platform has helped businesses continually improve and align goals.
League, is a digital platform that provides and manages employee wellness. Founded in 2014 in Canada, League has revolutionised employee healthcare by providing a consumer-centric and easily personalised platform. Workday Ventures, TELUS Ventures and other investment firms have provided funding to League that amounts to 77 million USD.
Scout Exchange :
Founded in Boston, United States of America in the year 2013, Scout Exchange provides a virtual marketplace that allows employers to connect with recruiters. This platform uses machine learning to analyse recruiting performance data points for predicting recruiter success according to specific job type. With 100 million USD in funding from Triventures, Scout Exchange has become one of the leading digital marketplaces for hiring.
The rapid pace at which HR Tech is evolving and the readiness with which companies are integrating technology in the HR department show that the future for HR Tech is going to be promising.
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