Our weekly roundup of deals, product announcements and other HR technology news.
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A partnership between Eightfold AI and IT services company Tata Consultancy will have TCS offer services for Eightfold’s Talent Intelligence Platform. The companies will also develop joint solutions enabling enterprises to transform talent outcomes, retain top performers, upskill and reskill the workforce, recruit top talent efficiently and reach diversity goals. “We believe through our partnership with Eightfold, we can help organizations manage workforce skills at scale and unleash their potential via AI-enabled skill curation,” said Ram Subramanian, global head of TCS’s human capital practice.
Compensation software provider beqom announced its latest product upgrades, which include improved capabilities for compensation planning, advanced currency management and enhanced support for global compliance. The user experience now includes improved mobile dashboards and production-quality “beautiful reporting,” which is available to all users.In this week's #HRTech Roundup: @EightfoldAI and Tata Consultancy join forces, beqom upgrades platform and more. #HR Click To Tweet
Deel raised $425 million in Series D funding, taking its total amount raised to over $630 million and valuing the company at $5.5 billion. With this investment, Deel becomes the highest-valued company in the global hiring, payments and compliance space. The new funding was led by U.S.-based Coatue, with partners Rahul Kishore and Lucas Swisher.
TeamSense, which provides text-based HR technology for hourly workers, launched Text-to-Apply, a new product for the hourly worker recruitment process. TeamSense doesn’t require an applicant to have a computer or email address, nor do they need to download an application to their phone. Text-to-Apply allows employers to establish branded text keywords for recruiting. The keyword costs customers $95 a month and requires no integrations with existing infrastructure.
Pillar, an interview intelligence platform, announced its launch. The platform leverages AI and in-interview coaching to provide employers with a way to assess a candidate’s fit for a role during the interview process. With the launch, the company is adopting and expanding its initial vision and product.
Scribe, a productivity platform, made its public debut. It launched with $30 million in funding including a $22 million Series A and a previously unannounced $8 million seed round. The Series A was led by Tiger Global Management, with participation from previous investors. The company will use the funding to scale its team and invest in R&D and product development. The platform automates the effort behind capturing and sharing digital processes.
London-based HR Path announced its merger with PlusHR Group, a UK HR and recruitment company that specializes in the recruitment of HR professionals. HR Path offers HR services from strategic thinking to deployment of integrated solutions, support and managed payroll services. PlusHR’s Consult business is one of the UK’s leading recruitment firms specializing in recruiting HR professionals for corporate positions.
Last Week’s Top Stories
Ceridian Adds Dayforce Intelligence Tools, Streaming Pay to Wallet
Ceridian added new features to its Dayforce platform, including a suite of talent intelligence tools as well as a streaming pay feature for Dayforce Wallet. Read more.
Driving the Great Resignation: Burnout, Lack of Recognition
Though they weren’t thrilled with their situation, a number of employees stayed in their jobs throughout 2020, with 6 million fewer departing than did in 2019. But in 2021, things have changed: Between March and July alone, 19 million workers quit their jobs, 7 million more than did during the same period last year. Read more.
Cornerstone OnDemand to go Private as PE Firm Takes Ownership
Cornerstone OnDemand said it will be acquired by the private equity firm Clearlake Capital. Under the terms of their agreement, Clearlake will acquire the outstanding shares of Cornerstone common stock for $57.50 per share in cash. The deal gives Cornerstone an estimated value of approximately $5.2 billion, the company said. Read more.
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