Another record-breaking month for HR Tech funding!
I counted 4 new unicorns. Where are we headed?
This month you’ll get the totals for March, and I calculated Q1 as a special bonus for you.
I am curious to see where this is going – each month I think that the numbers can’t go any higher, and then I receive yet another funding announcement.
The attention for young HR Tech companies, of all shapes and sizes and in a variety of categories is amazing. (And badly needed to enable the 2020s workplace!)
Two things stand out:
- A focus on companies that sell their product as an API. I counted 11 of them in the first quarter, and that’s more than all last year. I firmly believe that employees should be able to perform HR activities from within their workplace solutions, and APIs allow them to do that.
- Increased attention for deskless worker solutions. Some come in the form of HCM & Pay solutions that serve a particular industry. Others are focused on employee engagement or helping people complete tasks. 80% of the workforce is deskless, so this group should receive most of our attention, but hardly ever got it. Great to see vendors and VCs are catching up.
Let me know what you think in the comments! Any predictions for Q2?
Feel free to share the report. And please reach out if you have a question.