Writing in Techcrunch, Kyle Wiggers says the “The market for HR tech, which runs the gamut from workforce management to applicant recruitment and tracking systems, has proven remarkably resilient in the face of both pandemic and economic headwinds.”
She suggests that it’s “precisely because of these headwinds that HR tech has attracted, and continues to attract, investors’ attention. The pandemic spurred companies to invest in digital infrastructure as their staff moved remote, while macroeconomic fears upped the pressure on HR teams — some of which had to contend with layoffs among their ranks — to vet candidates carefully.”
According to her report, venture investors put more than into $12.3 billin in HR tech startups, nearly 4X the amount the year before, as reported in Pitchbook.
She writes that more than $1.4 billion was invested in the sector in the first two months of 2022 alone.
