Roundup: Investment in iCIMS, DoD Contract for Eightfold

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Private equity firm TA Associates will make an investment in iCIMS along with existing investor Vista Equity Partners. The company said Vista and TA will maintain equal economic interests in iCIMS and will partner to further accelerate growth and product development. Susquehanna Growth Equity will continue to be a shareholder. 

Eightfold AI and government IT provider Carahsoft Technology Corp. have been awarded a prototype contract for the Defense Department’s Innovation Unit to develop and deploy a talent intelligence platform that will identify currently undiscoverable expertise for the department. Eightfold’s Talent Intelligence Platform will power a talent marketplace app called “GigEagle,” which matches DoD needs with reservists and National Guard members who are seeking short-term, project-based duties. The platform will help more easily and closely connect project managers with personnel that can best contribute to digital skill gaps on short-term projects.

This week in HR technology news: PE investment in @iCIMS, Defense contract for @EightfoldAI, and more in our latest roundup. #HR #HRTech Share on X

meQuilibrium enhanced its Workforce Resilience Suite, which now holistically addresses employers’ greatest risks amid rising rates of mental health challenges, burnout and turnover. New campaign functionality and real-time access to data and analytics help customers drive targeted behavior change across the organization, to mitigate risk and positively impact employee wellbeing and performance. Building upon meQuilibrium’s data engine and predictive analytics, the enhanced suite provides an integrated, data-driven identification and action system for HR professionals.

Quantum Workplace launched Succession Planning as part of its performance platform. The new solution simplifies the process of creating a people-first approach connected to employee career growth. Organizations can identify successors for critical roles, rate successor readiness, develop future leaders and guide employees who are ripe for new roles.

Paycor released Paycor Expense Management, a solution designed to simplify the expense process. The new offering allows employees to enter expenses for approval, and for payroll specialists to reimburse employees through the same system used to process payroll. Expense Management also allows employees to upload receipts and enter expense data from either their web or mobile devices.

Rippling raised $250 million in a Series D round co-led by Bedrock and Kleiner Perkins. The round values the company at $11.25 billion. According to Crunchbase, the company’s total funding to date now stands at about $700 million. The company’s technology automates the management of employee systems such as payroll, benefits and other apps from one place.

WizeHire, a recruiting platform for small businesses, raised $30 million in a Series B round led by Tiger Global with support from Amplo and Mercury. According to TechCrunch, the investment will be used to grow WizeHire’s over-100-person headcount, expand its hiring resources and “further establish” relationships with technical partners.

Last Week’s Top Stories

Paychex Adds Solutions to Address Worker Health, Business Recovery

Paychex added new features to its platform including a compensation summary report, secure document management, a free financial wellness program and facial and iris recognition. Read more.

Employers Rethink Approach to Workforce As Expectations Change

Employers are rethinking their approach to the workforce and work itself as they face ongoing challenges in recruiting, hiring and employee retention. Read more.

Paylocity Adds Communications Tools to Community Platform

Payroll solutions provider Paylocity upgraded its Community product with incremental communication and collaboration features. Read more.

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