Along with the record-setting amount of VC that was invested in work tech during Q1, seven new unicorns were minted based on reaching valuations of $1 billion or more. Three of the seven unicorns provide different approaches to addressing mental wellness in the workplace: Ginger and Modern Health as a benefit provided to employees and BetterUp as a by-product of its stated approach to coaching. Performance management appears on the list via Lattice. Digital employee experience at the device level appears via Nexthink. Core HR and payroll providers Personio and Papaya Global also reached unicorn status.
All of the tech providers reaching unicorn status in Q1 are representative of larger trends in both HR/work tech VC and buyer priorities. Click on the logos or Funding/Trend notes below to learn more about the deals or the trends.
$2.7 billion was invested globally in work tech during Q1 2021. Access the free Q1 report and analysis, here.