Curated Intel from the Talent Tech Industry
October 10-16, 2022:
• Melding Greek mythology and fairy tale heroines: Startup The Muse buys Fairygodboss;
• Adding AI recruiting to HCM: HR software provider Paycor acquires TA platform Talenya;
• Leaving the building: LRP sells HR Tech and Ed Tech B2B events and digital media to Arc;
• Creating a one-stop commo hub for recruiters: PicotCX intros real-time video interviewing;
• Vetting people in instead of out: TATiO raises $5M to change the way candidates are qualified.
PLUS
• Quack Science-that’s what a bunch of Cambridge researchers called AI when it’s used to avoid bias in hiring. We not only think that’s a misguided assessment, we aim to show the full power and promise of this technology at the TAtech Leadership Summit on Applications of Recruiting AI for Enterprise Employers. Designed for both corporate and industry thought leaders, this event will both avoid the hype and highlight the real capabilities of AI. So, join us on October 25 at the University of Chicago Graduate School of Business in Chicago, IL USA.
The Muse buys Fairygodboss as roll-up acquisitions come to VC
Not every startup can reach its full potential — or survive — on its own. Venture capital puts a lot of emphasis on startups reaching unicorn status or exiting through an IPO, largely because such successes are crucial to making the venture model work. But this makes it easy to overlook the fact that many companies would see more success if they were acquired or combined with other startups. Kathryn Minshew, the co-founder and CEO of recruitment and job application marketplace The Muse, started thinking about this a year ago when her startup had been around for a decade. After a year of floating the idea of consolidation to other targeted recruitment platforms, her company, which helps users find jobs based on company culture and what they value, made its first acquisition. The New York-based startup announced this morning it has acquired Fairygodboss, a recruitment platform aimed at women and working mothers. The purchase price was undisclosed, and parties declined to comment on it, but a source familiar with the transactions said it was a mix of cash and stock. Fairygodboss is producing about $10 million in yearly revenue, which infers the purchase price was presumably favorable.
Paycor Acquires Talenya to Extend Platform with AI Recruiting
Paycor HCM, Inc. (“Paycor”) (Nasdaq: PYCR), a leading provider of human capital management (HCM) software, today announced the acquisition of Talenya, a cutting-edge, AI-driven recruiting platform that automatically sources quality talent faster and at a significantly lower cost. Talenya’s innovative platform will allow Paycor customers to reduce time to fill critical roles by sourcing both candidates that are actively looking to change jobs and passive candidates that are not actively seeking a new role. In addition, the award-winning AI recruiting platform will help companies executing against their DE&I strategy by placing an emphasis on diverse candidates that are often overlooked by traditional recruiting systems. “Given the importance of recruiting and retaining top talent in this highly competitive labor market, Paycor is dedicated to giving leaders the technology and expertise they need to develop winning teams,” said Raul Villar, Jr., Chief Executive Officer of Paycor. “This AI-powered technology will enhance our industry-leading talent solution, making it even easier for frontline leaders to proactively find skilled and diverse talent quickly and cost effectively. We are excited to welcome Talenya to the Paycor family.”
LRP Media Group sells its HR Tech and Ed Tech B2B Event and Digital Media Portfolios to Arc
LRP Media Group's HR Tech and Ed Tech B2B event and digital media portfolios have been sold to Arc, backed by investment funds managed by EagleTree Capital. LRP Media Group, founded in 1977, is an innovative media giant serving millions of business and education professionals worldwide. The company specializes in education administration, education law, education technology, federal employment, and human resources. The HR Tech and Ed Tech portfolios include nine best-in-class brands. They provide a diverse range of engagement solutions for facilitating networking and business growth. Professionals are brought together through content platforms and networking events, like HR Technology Conference and Expo, Future of Education Technology Conference, HR Executive, District Administration and University Business. The acquisition will be the sixth and largest acquisition for Arc in the fourteen months since inception and will add substantial scale to the overall Arc platform. The assets will also significantly expand the Arc network in the US, creating a robust complement to Arc's European business. The HR Tech and Ed Tech portfolios reflect Arc's strategy to connect business communities wherever, whenever, and however they need.
PivotCX Adds Real-Time Video Interviewing
PivotCX, an HR technology company that is transforming the recruiting process with its all-in-on talent acquisition communications hub, today announced the release of its beta version of its Real-Time Video communications. As with all past communication channels incorporated into the hub, the addition of video will also provide the same level of interoperability across all existing channels already in place. PivotCX is reinventing how recruiting gets done by creating an “all-in-one” communication hub that enables recruiting teams to communicate the right information with the right candidates over the right communication channel at the right time. The product can be deployed in a number of different ways as it is able to be used as a stand-alone solution, or can be integrated into any system or tool that recruiting teams already have in place. Being able to engage with and to develop meaningful relationships with all candidates, recruiters and hiring managers is what is at the heart of Talent Acquisition. Everything else are the administrative process steps required to get recruiting done.
HR tech company TaTiO raises $5.3M in a seed funding round
TaTiO, the HR tech company which offers talent acquisition services to businesses through AI, has raised $5.3 million seed funding in a round led by Mensch Capital Partners and Cresson Management. The round also saw participation from Cerca Discovery, Tau Ventures Ltd., Techstars, and GoodCompany. Also Read: HR management platform Factorial raises $120 Mn in Series C funding. Commenting on the funds raised, CEO Maya Hubert said, “There is an ever growing need for companies to find vetted and qualified employees. With TaTiO, we’ve created a new way to hire. Rather than vetting people out, we vet them in. We’re changing the reality of the workforce by minimising the time and cost of hiring, improving employee retention rates, and reducing hiring bias.”
Highlighting the Full Power & Promise of AI
Quack Science-that’s what a bunch of Cambridge researchers called AI when it’s used to avoid bias in hiring. We not only think that’s a misguided assessment, we aim to show the full power and promise of this technology at the TAtech Leadership Summit on Applications of Recruiting AI for Enterprise Employers, coming up on October 25 at the University of Chicago Graduate School of Business in Chicago, IL USA. This unique one-day event is specifically designed to promote connections among busy corporate and industry leaders. Its program provides a deep dive into an array of AI applications with plenty of time left over for senior-level peer-to-peer interaction. That makes it the perfect venue for building your brand and generating sales leads.