Roundup: Paradox Closes C Round; Korn Ferry Launches Intelligence Platform

News Roundup

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

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Recruiting platform Paradox raised a $200 million Series C investment round. The round was led by Stripes, Sapphire and Thoma Bravo. The company’s AI assistant helps employers automate candidate screening, interview scheduling, onboarding and other tasks through a simple mobile experience. Paradox has worked with more than 500 clients around the world. 

Korn Ferry launched Korn Ferry Intelligence Cloud, an AI-enabled talent analytics platform. Intelligence Cloud combines data-driven insights with the company’s consulting expertise and intellectual property, and is designed to help solve the challenges involved with acquiring, managing and mobilizing the right talent and skills.  

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Corporate spending on HR technology rose 57% in 2021, according to Sapient Insights’ HR Systems Survey. The survey found that an average of 16 HR systems were used by most organizations this year, up from 10 systems in 2020 and nine in 2019. Applicant tracking systems also expanded, by 62%, as more employers spent more on recruiting solutions.

Talent Cloud Turing said it reached unicorn status after raising $87 million at a valuation of about $1.1 billion. The Series D financing was led by WestBridge Capital with participation from Foundation Capital and new investor StepStone Group. Turing’s Talent Cloud combines global reach and AI to deliver ideal engineers billed by the month.  

Talent intelligence platform Searchlight closed a Series A funding round of $17 million, led by Founders Fund. The company also launched its talent intelligence platform, designed to aid hiring teams in assessing and retaining quality hires. The platform offers companies the ability to measure and improve quality of hire, the company said.

TriNet has signed a definitive agreement to acquire Zenefits, a “people operations” platform designed for SMBs. The seller is Francisco Partners, a leading global investment firm that specializes in partnering with technology businesses. Details of the stock and cash transaction were not disclosed. The Zenefits platform provides HR, benefits, payroll and employee engagement software.

The Attensi Technology Platform has been certified for integration with SAP cloud solutions.  from SAP. The integrated platform seeks to make learning more effective by using gamification and simulation technology. The SAP certification means that Attensi Technology Platform is certified for integration with SAP SuccessFactors solutions.

Last Week’s Top Stories

UKG Faces Test as Ransomware Hits Kronos Private Cloud

UKG’s Kronos Private Cloud was hit by a ransomware attack over the weekend, knocking out several services that may remain offline for weeks. According to media reports, UKG has advised affected customers to find alternative workforce management solutions while it resolves the situation. Read more.

Using APIs in Workforce Platforms to Enhance Benefit Carrier Experience

As businesses continue to evolve in the year ahead, how companies engage with talent will remain a critical focus. At the center of that employer and employee engagement is the benefit experience. Read more.

Modern Hire’s Interview Scoring Update Focuses on Bias

Modern Hire added new features to Automated Interview Scoring, its company’s on-demand interview tool that uses advanced AI to evaluate candidate responses and provide recommended scores to hiring teams. Read more.

Podcast: Talking Strategy With Cornerstone’s Heidi Spirgi

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