Early HR tech VC in 2020 is aligning with investor trends we have seen since 2017. So far it’s all job boards and payroll.
The latest is $5.94 million to Atlanta-based OnPay. “Developer of a payroll management and compliance software designed to provide low cost, high quality payroll management for small to medium-sized businesses. The company’s software features include employee self onboarding, automated payroll taxes, unlimited pay runs, direct deposit, tax payments, integration with various accounting products such as QuickBooks Online and Xero, as well as first-in-class client service by phone, e-mail or chat, enabling small and medium-sized businesses to simplify payroll management.”
Source: OnPay Company Profile: Valuation & Investors | PitchBook