Global HR technology investment in Q3 took 2019 past 2018’s annual total. Here are a few things that stood out to us as we tracked and compiled the data:
We tracked USD $964 million of investment in HR technology in Q3 2019. While that looks like a dip on the quarter to quarter chart, remember that in Q3 there were four mega rounds, defined as deals with a value of at least $100 million.
Q3’s contribution puts 2019 at USD $4.18 Billion. And, Q4 deals are already hitting the database.
Each of the three categories we track had one of the three largest deals: Gusto raised $200 million in HCM, Checkr raised $160 million in talent acquisition, and Culture Amp raised $82 million in talent management.
As you can see in the report, the investment trends do align with workforce and tech trends that employers are demonstrating in our primary and secondary research. However, this report only looks at this point in time – the trends reflected, and the vendors that received the funding in this quarter. While a vendor in this report may be aligned with a trend, the timing of their investment by no means reflects validation of their product, or their competitive standing. We’re not financial analysts, and we aren’t making any recommendations of the sort.
If you’re interested in a longer trend line, we’ve just announced access to our Global HR Tech VC Database, where you can slice and dice the data we’ve tracked since January of 2017.
As a leader in HR with any concern for technology and its impact on the work of the future it is important to look at this report and the trends reflected to get a sense of what tech is “in the funnel.”
Three additional resources will help you get a handle on the trends and emerging tech in the workplace:
- HRTechBook, a new global directory of HR tech providers, brought to you by HRWins, Aptitude Research, Lighthouse Research, and H3HR Advisors. No ads. No ratings to game. Just help finding the HR tech that you need.
- The 2019 Workplace Intelligence Report developed in partnership with Greenhouse. It definitely points to some areas where technology can help us improve.
- HRWins VC and M&A page you’ll find M&A deal news, VC reports, annual look backs, and VC deal by deal analysis as they happen.
Of course, we’re also available to chat with you regarding any deeper insights you may require.
Enjoy the report, and please let us know if you have any questions.