Roundup: Investors Still Swoon Over HR Tech; AI Gains in Recruitment Marketing

HCM Technology Report News

Our weekly roundup of deals, product announcements and other HR technology news.

HRWins tracked nearly $1.5 billion of VC investments into HR technology during 2019’s second quarter, outpacing any last year’s periods. By mid-year, the total was just $1 billion shy of all the funding rounds closed during 2018. You can see the report here.

More than two-thirds of the world’s most attractive employers, as defined by employer-branding firm Universum, have a positive view about AI and its role in recruitment marketing. That compares to 48 percent at other large companies. Universum’s 2019 Employer Branding NOW survey also found that companies expect the biggest recruitment “game changer” this year to be AI-driven candidate search and selection. Read the report here.

In this week's #HRTech roundup: HRWins tracked nearly $1.5 billion of VC investments into HR technology during Q2 2019. @glarocque #HR #HRTribe Share on X

ADP Retirement Services launched an analytics-driven dashboard meant to allow employers to quickly assess the health of their retirement plan and measure plan progress to determine they need to take action on performance improvement. ADP called the dashboard “unique” because it’s based proprietary plan health-scoring methodology.

Job board acquired Proven, a job site that targets small businesses. CEO Steve Lombardi said the deal “doubles down” on Upward’s strategy of working with SMBs on traditional job postings or programmatic options.

Nomad Health, a job site for healthcare jobs, raised $34 million in equity and debt financing. Icon Ventures led the financing. Additional investment came from previous investors Polaris Partners, RRE Ventures, .406 Ventures and Silicon Valley Bank.

Rimeto, which offers a platform meant to replace employee directories, raised $10 million in Series A funding. Led by Ted Zagat, of Zagat fame, and Facebook veterans Neville Bowers, and Maxwell Hayman, Rimeto has developed an “enterprise graph” that reveals the connections between people, teams and information across an organization.  

SoFi announced the addition of 529 college savings plan contributions to its SoFi at Work program. The few features include automated payroll deduction and employer contribution capabilities, as well as a planned selection tool that will provide employees with the 529 plans that best fit their financial situation.

Learning platform Kahoot! is “completely revamping” its game creator with new features including more tools to help present and instruct, as well as new ways to play games. The new creator makes Kahoot! “a full-fledged interactive learning tool that is relevant for any business context,” said CEO Åsmund Furuseth.

Germany-based video recruitment platform Cammio launched Cammio Stories, a platform extension that allows employers to create video content for job openings. Recruiters can collect, curate and publish video content about the job, tasks, working environment, team and company culture, then embed the clip on the company’s career page or with an individual job posting.

Last Week’s Top Stories

Podcast: CFOs (Heart) CIOs, and That’s Good for HR

Finance and IT organizations are more visible HR technology during purchasing discussions, and sometimes that means HR gets more money than it asked for. Listen below.

Q&A: Why ADP Says Effective PEOs are Evolving PEOs

Earlier this year, ADP TotalSource enhanced to help small businesses better navigate an employment world characterized by a tight labor market, more regulations and an increasing focus on workplace culture. We spoke with ADP TotalSource Senior Vice President Brian Michaud to learn about the thinking behind its enhancements. Read more.

Financial Performance Improves When HR Participates in Transformation

While the momentum of workplace automation continues to gather speed, relatively few North American employers have developed a formal digital transformation strategy. And while one report indicates those that have are leaving HR out of the loop, another shows that companies that prioritize workforce issues turn in stronger financial performances. Read more.

Culture Amp, Symphony Talent Launch Analytics Tools

Culture Amp and Symphony Talent launched new analytics tools, one to help predict an employee’s future, the other to improve the tracking of recruitment campaigns. Read more.

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