eqtble announced a $2.7 million Seed round of venture capital for its HR analytics platform. Perhaps the most interesting thing about this funding is that two of the three founders led people analytics in shops like WeWork and Snap. TechCrunch reports that the app can “deliver insights and visualizations about four main areas: talent recruitment, workforce, engagement (including attrition, or when workers quit), and compensation.”
People analytics is a category that has never seen the growth expected for it. Challenges with integration, competition with platform providers, and a lack of client resources needed to develop complex views that require data from across the enterprise and from systems not only in the HR tech stack have been blockers. However, we are moving into a new wave of work technology where some of these issues may be addressed by new tech. With more open integrations/APIs, a rapidly maturing people analytics discipline, and analytics tools that require more of a business analyst and less of a data scientist to use, we expect to see more growth in the people analytics category. We’ll look forward to getting a look at eqtable to see if it’s part of that wave.
While the firm’s website and TechCrunch reporting point to a focus on improving D, E, and I, it’s not clear beyond the obvious use of data in that regard how eqtble might differentiate in that space. It’s early days. It seems like one to watch.
$2.7 billion was invested globally in work tech during 2021 Q1 alone. Get WorkTech’s free report and analysis here.