Our weekly roundup of deals, product announcements and other HR technology news.
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Paylocity announced continued growth of its Modern Workforce Solutions, which include features such as Community, Premium Video, Surveys, Learning Management and the recently launched Modern Workforce Index. In the fiscal year ending June 30, client usage of Community announcements on Paylocity’s platform increased by over 150% year-over-year, and total announcements doubled this Spring compared to the same period in 2020. Meanwhile, monthly video creation in the last four months outpaced the first four months of 2021, and the number of videos created on the platform as of June 2021 was nearly triple the total from December 2020.
ServiceNow updated Workplace Service Delivery to support employees in an increasingly hybrid work environment. The tools give employees a consumer-like mobile experience to reserve workspaces, conference rooms and services and navigate workplaces. They also provide the data needed to better inform real estate costs and optimization..@Paylocity reports growth, ServiceNow updates delivery platform, WorkForce Software grows and more in this week's #HRTech roundup. #HR Click To Tweet
WorkForce Software reported a 20% increase in year-over-year revenue growth, strengthened by the addition of 232 new or expanded customer relationships in the first half of 2021. The growth can be attributed to the need for immediate investment in solutions like the company’s WorkForce Suite. Through the uncertainty of Covid-19, which upended business operations during the past year, many employers identified gaps in their ability to adequately communicate, adapt, manage and retain employees.
Mentoring software provider Chronus announced a $78 million by Level Equity, a growth equity firm based in New York and San Francisco. The money will fund growth initiatives and accelerate the company’s ability to serve the needs of organizations looking to adapt their workforce for a more hybrid future.
Recruiting platform Wedge now has an integration with talent acquisition suite Lever. Through this integration, Lever customers can incorporate Wedge’s one-way video interviews into their recruiting workflow. Candidates receive a request to record a “wedge,” able to complete their response from any device, with no additional app or download required. Wedge said this asynchronous approach reduces screening time up to 75%.
Landed, which provides a mobile app connecting hourly food and retail workers with local employers, launched Landed Hiring Events. The product facilitates recruiting events by inviting, screening and scheduling to bring candidates to employer’s in-person or virtual hiring event.
Namely announced the availability of Tell Us, an anonymous reporting platform that allows employees to submit anonymized reports. They can select their preferred confidentiality level, indicate whether they’re reporting on behalf of themselves or someone else, share details of the parties involved and their role in the incident, and upload any relevant materials.
PlanSource unveiled a new partner marketplace with expanded benefit options for employers. PlanSource is organizing the marketplace to offer customers a variety of offerings like mental health, women’s health, financial and lifestyle benefits. Partners include Allstate, Boon Health and MetLife Legal.
Last Week’s Top Stories
Cornerstone OnDemand to go Private as PE Firm Takes Ownership
Cornerstone OnDemand will be acquired by the private equity firm Clearlake Capital. Under 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. Read more.
SmartRecruiters Valuation Jumps to $1.5B After New Funding Round
SmartRecruiters closed a Series E funding round of $110 million, bringing its total amount raised to $205 million. The round also increased the company’s valuation to $1.5 billion. Read more.
LTG Acquires Transformation Firm GP Strategies
London-based Learning Technologies Group will acquire GP Strategies Corporation, a workforce transformation solutions firm. The deal is worth an estimated $394 million. Read more
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