Our weekly roundup of deals, product announcements and other HR technology news.
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Lever completed a $50 million Series D funding round with the Apax Digital Fund. The company said the investment will accelerate product development in talent analytics, talent discovery and DEI, as well as support growth in new markets. The Apax Digital Fund focuses on growth equity and growth buyout investments. Lever says it’s the only solution to provide talent acquisition with complete applicant tracking system and candidate relationship management capabilities in a single native platform.
Employee rewards and recognition company Awardco announced a $65 million Series A round. It’s the largest Series A funding in HR SaaS history, Awardco said, and it boosts the company’s valuation to more than $900 million. The company has over 1,000 customers in 141 countries, with more than 3 million employees using the platform in the last year.
In this week's #HRTech roundup: Serious money for @Lever and Awardco, people analytics market keeps growing, and more. #HR Click To TweetSAP and Qualtrics announced the availability of Concur Experience Optimizer, a new solution that allows companies to improve employee experiences and adapt travel and expense programs for the future of work. The Experience Optimizer combines the listening and analysis capabilities of Qualtrics EmployeeXM with operational intelligence data from Concur Travel and Concur Expense to help companies design travel programs for the hybrid workplace and improve spend management processes.
The market for people analytics products was worth $2.03 billion in 2020, and is expected to reach $4.24 billion by growing at a CAGR of 13.08 % by 2026. ResearchandMarkets says increasing demand for workforce optimization solutions is driving the growth, spurred by growing demand for expertise in new fields and the growing shortage of skilled workers.
Upwork announced Virtual Talent Bench, a series of features that help customers discover, organize, revisit and hire independent talent. Virtual Talent Bench features enable clients to establish a network of top independent professionals they can regularly work with on projects or to complement skill sets on their full-time teams. As a part of the release, a revised Discover page surfaces individual talent profiles and projects based on past searches and job needs.
Culture Amp acquired the “cultural values recognition” company Disco. Disco helps companies recognize values-driven work, foster team appreciation and improve company culture across distributed teams. Culture Amp said the companies will accelerate their shared vision of helping people feel more connected, valued and engaged.
Last Week’s Top Stories
SAP Strengthens, Customizes SuccessFactors Internal Marketplace
SAP rolled out a new internal-marketplace solution that delivers customized recommendations to help fuel workers’ personal growth and increase organizational agility. Read more.
CEIPAL’s New Tools Aim to Tackle Diversity Gap
CEIPAL launched what it describes as the industry’s first AI-driven solution to address diversity, equity and inclusion within both the existing workforce and across talent acquisition sources. 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.
Podcast: SAP Fieldglass’s Vish Baliga on Contingent Work
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