Startups to Watch
With millions out of work and certain employers in a hiring spree to meet increased demand, we explore high-momentum HR tech startups offering software tools to help companies recruit more efficiently and effectively.
In recent years, HR tech has blossomed into a hot investment category. Funding to the space swelled to a record $6.9B in 2019, and news mentions of “HR tech” have more than doubled over the past 5 years.
However, with the shock of Covid-19, funding to HR tech companies declined by 49% from Q4’19 to Q1’20. With companies everywhere rethinking their expenses, some HR startup investors are pulling back.
At the same time, millions of workers are currently unemployed or have been laid off, creating a spike in job seekers. Likewise, many supply chains are doing all they can to keep up with coronavirus-related demand and are, in fact, hiring rapidly.