In the last month of 2023, the HrTech industry was full of innovation and growth, mainly driven by fundraising efforts. Investors were drawn to the sector like bees to honey, captivated by the promise of real results through automation, data analytics, tools for sparking employee engagement, and more.

December turned out to be a crucial time, as eleven ambitious HrTech startups successfully secured a noteworthy $252 million in funding. This significant financial boost has opened up new possibilities for these startups, enabling them to expand operations and explore new areas of development.

The forward-thinking approach and backing from investors not only highlight their recognition of the sector's vast potential but also propelled HrTech towards a future full of promise and abundant growth opportunities.

HrTech Fundraising of December 2023
HrTech Fundraising of December 2023

Vestwell is a digital savings platform that automates retirement investing for RIAs, ensuring compliance with regulations. It facilitates advisers in engaging with clients by providing defined contribution plans for companies and employees.

  • Funding Amount: $ 125M
  • Funding round: Series D
  • Lead Investors: Lightspeed Venture Partners

ContactMonkey serves as an internal communications platform designed to assist companies in crafting, dispatching, and monitoring internal communications seamlessly through Outlook or Gmail.

  • Funding Amount: $ 40.5M
  • Funding round: Series A
  • Lead Investors: Updata Partners

Jitjatjo is a Talent Marketplace and Flexible Workforce Management Platform, it addresses Talent Acquisition and Human Capital resourcing issues for businesses, with an initial emphasis on the Leisure & Hospitality and Retail sectors.

  • Funding Amount: $ 30M
  • Funding round: Series B
  • Lead Investors: Morningside Group

Rhythms introduces generative AI as organizations transform due to the increasing prevalence of hybrid workplaces and the imperative to achieve more with fewer resources.

  • Funding Amount: $ 26M
  • Funding round: Seed
  • Lead Investors: Greenoaks, Madrona

Medefy is a healthcare engagement platform designed to aid employers in enhancing benefits offerings for members of their health plans.

  • Funding Amount: $ 10M
  • Funding round: Series A
  • Lead Investors: Mercury

Salt Labs is a loyalty and payments solution that enables hourly employees to measure, capture, and reward themselves for their work.

  • Funding Amount: $ 8M
  • Funding round: Seed
  • Lead Investors: Third Prime

Redrob is a people discovery platform that utilizes artificial intelligence to reorganize people's data into an intelligible format.

  • Funding Amount: $ 4M
  • Funding round: Seed
  • Lead Investors: DS&Partners, Murex Partners

Gigs connects companies to job seekers seeking full-time or part-time hourly roles in their neighborhood.

  • Funding Amount: $ 3M
  • Funding round: Seed
  • Lead Investors: Struck Capital

nCore HR is focused on helping recruiters find the best talent, through the automation of non-core activities, leaving room for the recruiter to identify the true uniqueness of the candidate.

  • Funding Amount: $ 2.2M
  • Funding round: Seed
  • Lead Investors: Vertis

Scalers is an online, competency-based learning and placement platform that assists young individuals in entering the job market. It focuses on enhancing their skills for modern employment while connecting them to employers within and outside its network.

  • Funding Amount: $ 1.9M
  • Funding round: Venture
  • Lead Investors: Access Bridge Ventures, Sadu Capital

Harriet is a comprehensive AI solution crafted to prepare internal organizational data for the AI revolution. It aims to alleviate administrative burdens for HR teams and offers every employee their personalized HR assistant.

  • Funding Amount: $ 1.5M
  • Funding round: Pre Seed
  • Lead Investors: Concept Ventures

Here’s a list of some lead investors in the HrTech sector 👇

  • Lightspeed Venture Partners: a venture capital firm that engages in consumer, enterprise, technology, and cleantech markets.
  • Updata Partners: provides growth equity and operating expertise to the next generation of technology leaders.
  • Morningside Group: invests in private equity and venture capital opportunities.
  • Lightspeed Venture Partners: a venture capital firm that engages in consumer, enterprise, technology, and cleantech markets.
  • Murex Partners: a VC firm specializing in thesis-driven investing.
  • Mercury: an early-stage venture capital firm that invests in SaaS, cloud, and data platforms.
  • Third Prime: A global software investor forming partnerships with high-growth technology, software, and internet startup companies.
  • Sadu Capital: backs pre-seed, seed, and series A startups and assists them in reaching the stage when they get growth financing.
  • Vertis: is a dynamic and independent investment management company that offers private equity and fund management.
  • Concept Ventures: is the UK's largest dedicated pre-seed fund, supporting founders changing how we Work, Play and Learn.
  • Access Bridge Ventures: Early-stage emerging market venture fund.

🤔 Did we miss your HR Tech startup's fundraising? Let us know so we can include you in the article: contact@hrflow.ai

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