Roundup: PlanSource Acquired; SuccessFactors Releases Update

HR Technology News Screens

Our weekly roundup of deals, product announcements and other news from the HCM technology community is here.

PlanSource will be acquired by investment firm Vista Equity Partners. The company said the acquisition “marks the beginning of a new phase of growth.” Under the acquisition PlanSource said it will accelerate its product roadmap and further develop its partnership programs. Key areas of investment will include real-time integrations with insurance carriers, analytics for stakeholders across the organization and tools for self-service, personalization and communications to simplify the benefits experience for both employees and HR teams.

SAP SuccessFactors released its first 2019 quarterly update. Consulting firm /N SPRO said Employee Central now allows administrators to more easily manage contingent workers by assigning multiple work orders. At the same time, employers can omit contingent workers from file exports to other SuccessFactors components such and Learning or SAP Jam. In addition, SAP added features to Continuous Performance Management to simplify requests for management feedback and a new look and feel to SAP Internal Career Site

JPMorgan Chase will spend $350 million over the next five years to train workers for “the jobs of the future,” CNN reported. The company said it invest in a range of initiatives and research projects. In 2013, the firm committed $250 million over five years for job training.

Intuit’s new CEO, Sasan Goodarzi, said his biggest challenge will be helping the firm became artificial intelligence company, in much the same way predecessor Brad Smith led it into the cloud. USA Science News reported Intuit is already integrating AI into some of its products.

Search firm Beecher Reagan launched Verity, a proprietary platform that conducts occupational-specific assessments for professional services leadership. Verity is powered by Hogan Assessment’s assessment data science. Verity is designed to provide employers with greater insight so they can improve the quality of engagement, create an effective interview process and increase the likelihood of making the right hire, Beecher Reagan said. This platform was developed and piloted with broader applications in mind, including development, team audits, leadership integration programs and diversity development.

U.S. companies considering global expansion face increasing challenges abroad, according to a report from XpertHR. While international expansion can help with long-term growth, with it comes the challenges of meeting global workforce rules and regulations, as well facing challenges such as discrimination and collective employment. XpertHR said that 53% of U.S. companies have some foreign involvement and 72% expect to increase their international share of business.

Lineup Management Services, a software startup in Washington, D.C., said it launched lineup, a B2B platform that allows associations and organizations in the assessment industry to build the best work teams possible and optimize team performance. The product is centered around a dashboard that allows users to upload and organize data, create and filter based on customized tags, set up teams, view overlaps and create and distribute evaluations. By collecting and storing team data centrally, the company said, lineup simplifies the tasks involved in identifying trends and making program improvements. 

MassMutual Life introduced a financial and benefits planning tool to help workers assess and balance their short- and long-term financial needs. MapMyFinances is available, at no cost, through employers that use MassMutual’s defined contribution retirement plan services, voluntary insurance benefits or both. The company said the tool help users assess their overall financial situation and provides guidance to help them prioritize their coverage choices based on their family situation and budget.

Hiretual, a provider of software for sourcing and recruiting passive candidate sourcing and recruiting, launched Intelligent Talent Pipeline, a consolidated talent pipeline geared toward the enterprise. The product consolidates all talent pools to combine data from a company’s internal systems with passive candidate sourcing data from the open web, then–automatically delivers qualified candidates to the hiring pipeline.

Skedulo, which offers mobile workforce management solutions, closed $28 million Series B round. The funding was led by M12, with participation from returning investors Blackbird and Costanoa Ventures. It brings the company’s total fundraising thus fat  to $40.5 million.

HR and benefits software developer Ease closed a $19 million round of Series B funding. The round was led by Centana Growth Partners with continued participation from Propel Venture Partners, Compound Ventures, Freestyle Capital and Upside Partnership. The money will be used to develop new products and capabilities for SMBs, insurance brokers and insurance carriers, the company said.

Digital health company Peerfit, which works with employers to fund fitness experiences for their workers, announced an $18 million commitment from Virgo Investment Group to open its Series C funding round. The investment will help Peerfit expand its core brand and expand into the Medicare Advantage space.

Prosper, a digital coaching service, said a new study found that 35 percent of Canadian workers feel their employers don’t provide them with enough support when it comes to developing and expanding their skills.

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