Top 10 HR Tech Funding and Investments in 2020

HR Tech

HR Tech

Funding in HR Tech is seeing a substantial rise with soaring talent management demand  

Surviving today’s fast-faced digital revolution requires businesses as well as individuals to keep exploring new technological trends. Technology has transformed all aspects of business areas, from accounting to payment transactions and recruiting talents to complex tasks. In the human resources industry, human resources technology (HR Tech) plays a crucial role in attracting, hiring, retaining and maintaining talent, and supporting and optimizing workforce management. With companies rapidly moving towards digital, finding top talent has become a key challenge to stay competitive in the market.

The year 2020 has been witnessed massive funding in HR Tech as companies are increasingly seeking top talent. IndustryWired present you with Top 10 HR Tech Funding and Investments in 2020. 

 

Eightfold AI

Eightfold.AI is a California-based HR Tech startup that enables organizations to retain talent, recruit efficiently and bolster diversity, all with deep learning AI. In October, the startup raised US$125 million in a Series D funding round to expand and scale its leading AI-powered Talent Intelligence Platform. The round was led by General Catalyst and also includes investors from previous rounds, including Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners.

 

Handshake

Handshake is a college career network that assists students and recent graduates find their next opportunity. In October, the California-based company bagged US$80 million in a Series D round from GGV Capital. The capital enables Handshake to lead the charge in shaping the future of work by both serving an expanded universe of students across geographies and educational institutions.

 

Hibob

Hibob, a mission-critical, cloud-based human resources platform provider, in December secured US$70 million in a Series B financing round. Led by investors SEEK and Israel Growth Partners (IGP), the funds will allow Hibob to drive wider global expansion while contributing to further its product development. Hibob has an intuitive and data-driven platform, bob, which was built for the way people work today: globally, remotely, and collaboratively.

 

Lattice

Lattice is a people management platform that empowers people leaders to build engaged, high-performing teams. The company in July raised US$45 million in a Series D round from Tiger Global Management. Frontline Ventures, Founders Fund, Khosla Ventures, Thrive Capital Partners, Fuel Capital, and Y Combinator also joined the funding round. The funds intend to stimulate Lattice’s focus on expanding offerings to better serve its global clients and continuing to scale its team to meet ambitious product goals.

 

Remote

California-based HR Tech platform for international payroll, Remote in October received US$35 million in a Series A financing round. The round was led by Index Ventures and joined by Sequoia Capital, with additional participation from angel investors including Aaron Levie, Zach Weinberg, and Kevin and Julia Hartz. Remote is the only global employment provider with its own legal infrastructure in every country where it operates.

 

Degreed

Degreed is a learning platform where individuals and organizations can discover content, build skills, and certify expertise. In June, the company raised US$32 million in a Series C extension round led by Owl Ventures. The majority of this funding will go toward increasing innovation around our new Career Mobility product, which connects learning and skills to clear career development, creating an internal mobility structure that exists in a single, integrated experience for the user.

 

Springboard

Springboard is an online learning platform that provides upskilling and reskilling training with expert mentorship from top professionals. Based in California, the company secured US$31 million in a Series B funding round in August. The round was led by investment firm Telstra Ventures, with additional participation from Vulcan Capital and SJF Ventures, as well as existing investors Costanoa Ventures, Pearson Ventures, Reach Capital, International Finance Corporation (IFC), 500 Startups, Blue Fog Capital, and Learn Capital.

 

CaptivateIQ

CaptivateIQ is a modern incentive compensation solution aiming to make the commissions’ process clear and accurate for everyone. In May, the company raised US$13 million in a Series A round to continue on its mission to help companies worldwide to unlock the power of incentives to create better alignment across teams. The round was led by Sequoia Capital with support from the existing investors including Y Combinator, Amity, and S28.

 

Leena AI

Leena AI, a human resource management platform, in November, snagged US$8 million in a Series A funding round. The round was led by US venture capital firm Greycroft, along with personal investments from Adam Miller, founder of software firm Cornerstone OnDemand; Alan Patricof, chairman of Greycroft, and Jim Moffatt, former chairman and CEO of Deloitte Consulting. Leena AI’s HR Management platform transforms employee experience with conversational AI.

 

WeWork China

WeWork China, a subsidiary of WeWork that provides a shared workspace community and office services, raised US$200 million in a private equity round led by Trustbridge Partners. This investment enables WeWork China to continue supporting the diverse and growing ecosystem of entrepreneurs, medium-sized businesses, and enterprise companies across the region.