According to DHR statistics, 412+ investment and financing events were generated globally in the past 2022, with a total investment and financing amount of $13.86 billion in the global HRTech field.

Among them, by quarter, we can see that

Q1 2022: 109+ cases, $3.56 billion

Q2 2022: 129+ cases, $6 billion

Q3 2022: 81+ cases, $2.1 billion

Q4 2022: 93+ cases, $2.2 billion

Most of them are concentrated in Angel and Series A, which account for 50% of the funding volume, while other rounds account for the remaining 50%, including 92+ cases in Series A, 61+ cases in Series B, 28+ cases in Series C and 11+ cases in Series D.

HRTech investment and financing in 2022 is mainly concentrated in the U.S. and Europe regions, and HRTech is also more active in Asia, more concentrated in India.

For details, please see DHR's infographic:



Top 10 typical HRTech funding cases in 2022

Atlas

In September 2022, Atlas, an industry leader in Employer of Record (EOR) Solutions and Technology, received a $200 million Series B strategic investment in a round of funding from global investment firm Sixth Street Growth Strategic Equity.

Founded by founder and CEO Rick Hammell, Atlas has offices in 16 regions, including Chicago, London, Tokyo and Singapore, and provides EOR services to companies in more than 160 countries around the world. Atlas is a technology platform that is supported by experts and delivers flexibility for companies to expand across borders, onboard talent, manage compliance, and pay their global workforce without the need for a local entity. Atlas was named a Leader in the Enabling Technology and overall Global EOR Services categories in the recent NelsonHall Vendor Evaluation and Assessment Tool (NEAT) report, a globally recognized research and analysis firm.

 

CoachHub

In June 2022, CoachHub, the global leader in digital coaching, closed a $200 million in Series C funding led by Sofina and SoftBank Vision Fund 2, bringing CoachHub's total funding to $330 million to date.

CoachHub was founded in 2018 by Yannis and Matti Niebelschuetz and is based in Berlin, Germany. CoachHub is the leading global talent development platform that enables organizations to create personalized, measurable, and scalable coaching programs for the entire workforce, regardless of department and seniority level. By doing so, organizations can reap a multitude of benefits, including increased employee engagement, higher levels of productivity, improved job performance, and increased retention.

 

Darwinbox

In January 2022, HR SaaS platform Darwinbox secured $72 million in Series D funding led by Technology Crossover Ventures, with participation from Salesforce Ventures, 3One4 Capital and others. With this latest funding, Darwinbox is valued at over $1 billion, advancing it to unicorn status.

Darwinbox was founded in 2015 by Chaitanya Peddi, Jayant Paleti and Rohit Chennamaneni and is based in Hyderabad, India. Darwinbox is a platform which caters to an organization's HR needs across the employee lifecycle from “recruitment to retirement”. It handles the onboarding of new employees, keeps track of their performance, monitors turnover rates and provides a continuous feedback loop. It also provides a social network for clients to keep employees connected and an artificial intelligence assistant for clients to request time off or schedule meetings with quick voice commands from their phones.

 

Factorial

In October 2022, HR software company Factorial secured $120 million in Series C funding, the largest Series C round in Spain, led by Atomico with participation from investors Tiger Global, CRV, and K-Fund Creandumcan. Although Factorial is a startup, after securing a Series C Although Factorial is a startup, it has been valued at more than $1 billion after its Series C round of funding, achieving unicorn status.

Founded in 2016 by Jordi Romero (CEO), Bernat Farrero (CRO) and Pau Ramon (CTO), Factorial is headquartered in Barcelona and is building an all-in-one HR automation platform for SMBs that manages payroll, employee onboarding, leave and other related functions. In addition, Factorial offers many materials and tools to specifically address the most pressing needs of HR employees today, such as guidelines on how to implement leave and layoffs, how to develop the best communication policies, etc.

 

HiBob

In August 2022, HR SaaS platform HiBob raised $150 million in Series D funding led by global growth investor General Atlantic, with participation from Bessemer Venture Partners and other existing investors. HiBob's Series D round takes the company's valuation to $2.45 billion.

Founded in London, UK by Ronni Zehavi and Israel David and now headquartered in New York with a global hybrid office model, HiBob provides a unique HR platform for companies with hundreds to thousands of employees worldwide. HiBob has clients located around the world and provides services to countries or organizations worldwide. The HR management platform offers a multi-site implementation approach from the outset, with a unique built-in local language, currency, cultural adaptation, automated processes and regulatory settings.

 

Personio

In June 2022, HR SaaS platform Personio closed a $200 million Series E funding round led by Greenoaks Capital Partners, with existing investors Altimeter Capital, Alkeon, Index Ventures, Accel, MeritecGlobal Founders Capital and others. With $200 million in funding and a recent valuation of $8.5 billion, Personio has become one of the most valuable startups in Europe today.

Founded in 2015 by Hanno Renner, Roman Schumacher, and Arseniy and headquartered in Munich, Germany, Personio is an all-in-one HR platform for small and medium-sized companies (10-2,000 employees) that provides key HR functions such as recruiting and onboarding, payroll, and absence tracking. It already has about more than 3,000 SME customers in Europe.

 

PayFit

In January 2022, payroll company PayFit raised $289 million in Series E funding led by General Atlantic with participation from leading investment banks Bpifrance and Accel. After securing $289 million in Series E funding, PayFit has been valued at $2.1 billion. It has become a new unicorn company in France.

PayFit was founded in 2016 by Firmin Zocchetto (CEO), Ghislain de Fontenay (CTO) and Florian Fournier (CPO) and is headquartered in Paris, France. PayFit is dedicated to saving small businesses time and money through existing payroll systems, reducing their accounting and overhead costs. On the other hand, employees can manage their timesheets, labor contracts, insurance, and benefits through the PayFit platform.

 

SeekOut

In January 2022, employee recruitment platform SeekOut raised a $115 million Series C round of funding led by Tiger Global Management. Following the Series C round SeekOut has been valued at $1.2 billion, advancing it to the ranks of unicorns.

Founded in 2017 by Microsoft CEO Anoop Gupta and Bing CTO Aravind Bala and headquartered in Seattle, WA, SeekOut is an artificial intelligence-powered talent acquisition platform for Enterprise Talent Optimization SM that enables companies to quickly hire, develop, and retain talent while focusing on new solutions for internal mobility, employee retention, and career development.

 

Workstream

In September 2022, blue-collar recruiting platform Workstream raised a $60 million Series B+ round of funding, bringing its total Series B funding to $108 million, led by Hans Tung, Managing Partner at GGV Capital, with participation from Founders Fund, CRV, WiL and Soma Capital. Workstream is now valued at nearly $1 billion after the Series B+ round.

Workstream was founded in 2018 by three Chinese CEOs, Desmond Lim, CTO Max Wang and CPO Lei Xu, and is headquartered in Silicon Valley. workstream offers a mobile recruiting app that connects recruiters with hourly workers, resulting in a 70% reduction in hiring time. More than 10,000 hiring managers in the U.S. use the platform to help recruit frontline employees such as caregivers, nurses, delivery drivers, take-out restaurant workers, gas station attendants and more.

 

eRoad

In November 2022, eRoad HR Technology received a $140million Series D round of funding, which was jointly led by a well-known strategic investment institution and a well-known financial investment institution (details not disclosed). After receiving the latest funding, Easy Road has been valued at more than $1 billion, making it a new unicorn company in the HRSaaS space.

Founded in 2004 by Chairman and CEO Wang Tianyang and headquartered in Shanghai, China, eRoad provides comprehensive digital solutions for human resources, with salary as the core, for medium and large enterprises. The main products cover: core human resource management, salary management, workforce management, talent development, data insights, etc. Currently, eRoad has become the preferred provider of HR compensation management solutions for Chinese enterprises.