Exploring the biggest players, fundraising rounds and trends in HR tech
Human resources, sometimes referred to as People & Culture at tech startups, is an absolutely vital function to any company. It is, after all, people who make up the backbone to every organization.
In the face of the COVID-19 pandemic and the Great Resignation, the workforce as we know it has radically changed. With vaccine mandates and hot-desking trends, companies now have to keep track of more employee data than ever before.
While human resources has largely been viewed as a back-office function in the past, new tools and technology have boosted the HR department right to the C-suite.
- $9.2 billionof venture capital poured into HR tech startups as of Nov 2021, according to Pitchbook. That’s a 130% increase from 2020. Funding for HR tech also doubled from Q2 to Q4 of 2021, according to Crunchbase.
- 15newly-minted HR tech unicorns in 2021
- 70%of respondents to Gallagher's 2020 HR Technology Pulse Survey said they plan to expand or replace components of their HR technology ecosystems by 2022.
- 5funding rounds of $250,000 or more since September, 2021.