In February 2023, the HrTech sector experienced a notable surge in both innovation and expansion, driven by substantial fundraising efforts. A total of nine ambitious startups managed to secure an impressive $185 million in funding, marking a pivotal moment for the industry. This substantial financial influx has empowered these startups to scale their operations significantly and venture into new realms of development.

The industry's momentum is underpinned by its capacity to deliver tangible results through various means, including automation, data analytics, and specialized tools geared towards enhancing employee engagement.

The robust support from investors not only underscores the vast potential within the HrTech landscape but also propels it towards a future brimming with promise and abundant growth opportunities.

HrTech Fundraising - February 2023
HrTech Fundraising - February 2023

WorkLLama attracts and engages talents, including full-time, contractors, freelancers, independent consultants, and performance-based statement of workers using automation to drive efficiencies and accuracy.

  • Funding Amount: $ 50M
  • Funding round: Venture
  • Lead Investors: -

Buk is a cloud-based human resource management platform that unifies a wide range of HR functionality into a single system.

  • Funding Amount: $ 35M
  • Funding round: Venture
  • Lead Investors: Base10 Partners

Brigad enables self-employed professionals and businesses to connect for short-term missions.

  • Funding Amount: $ 30M
  • Funding round: Series B
  • Lead Investors: Balderton Capital

Bonusly is an online platform for employee recognition, rewards, and engagement.

  • Funding Amount: $ 18.9M
  • Funding round: Series B
  • Lead Investors: Ankona Capital Partners

Gable connects companies and their employees to flexible, scalable, and cost-effective hybrid offices.

  • Funding Amount: $ 16M
  • Funding round: Series A
  • Lead Investors: Foundation Capital and SemperVirens Venture Capital

Tribepad offers recruitment software to serve organizations. They provide applicant tracking systems, video interviewing, and job board solutions.

  • Funding Amount: $ 13M
  • Funding round: Venture
  • Lead Investors: Business Growth Fund

Rezolve AI platform implements AI-powered auto resolution skills to deliver a highly autonomous employee servicing experience.

  • Funding Amount: $ 11M
  • Funding round: Series A
  • Lead Investors: SIG venture capital

 HireLogic enables candidates to automatically extract valuable insights from any remote or in-person job interview. Based on the topics discussed, skills, experience, and other factors, they can quickly.

  • Funding Amount: $ 6M
  • Funding round: Series A
  • Lead Investors: Joseph Landy is a cloud-based software, designed to make managing employees more straightforward than ever with automated processes, from onboarding to offboarding.

  • Funding Amount: $ 5M
  • Funding round: Seed A
  • Lead Investors: Raed Ventures, Speedinvest

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

  • Balderton Capital: A venture capital investor that supports technology businesses.
  • Base10: An early-stage venture capital firm investing in the automation of the real economy.
  • Business Growth Fund: Business Growth Fund is an influential investor in small and mid-sized businesses.
  • SIG venture capital: SIG venture capital is funded by entrepreneurs who understand the ups-and-downs of operating a business.
  • Avenue Growth Partners: a growth capital firm that seeks to invest in high-growth B2B software companies at the expansion stage.
  • Apex Black: serial founders backing fellow founders with capital, connections and expertise.
  • Raed Ventures: an early-stage venture capital firm that partners with exceptional founders building transformative companies in MENA.
  • Speedinvest: a venture capital fund investing in pre-seed, seed, and early-stage tech startups.

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