Curated Intel from the Talent Tech Industry
April 10-16, 2023:
• Adding to the portfolio: Mitratech buys Circa and Trakstar to augment its HR & talent solutions;
• Figuring out who the owner is: Can copyright law keep up with generative AI development;
• Confirming the commitment: JobAdder secures another round of SEEK funding to fuel growth;
• Analyzing the state of play: Pitchbook’s latest M&A report on Human Capital investment;
• Introducing a new capability: PowerToFly launches The DEIB Business Suite to promote diversity.
PLUS
• If you’re in the job board or talent technology business and tired of seeing your company treated like a second-class subset of HR Technology, you deserve the recognition and support you’ll receive at TAtech North America & The World Job Board Forum, coming up in Austin, Texas USA on May 22-24, 2023. It is the only conference totally dedicated to your bottom-line success in the North American market. The content and connections it delivers will accelerate your sales, reinforce your brand and give you a sustainable competitive advantage in the market. So, don’t delay; register today.
Mitratech Acquires Circa and Trakstar, Unifying Top Technology Platforms Through Continued Investment in HR Compliance & Talent Strategy
Mitratech, a leading global provider of legal, compliance, and HR software, today announces the expansion of its Human Resources portfolio of solutions through the acquisition of two technology companies: Circa, a market-leading Office of Federal Contract Compliance Programs (OFCCP) and Diversity Equity and Inclusion (DEI) software provider; and Trakstar, a best-in-class talent acquisition, development, and performance management solution. These acquisitions mark the next step in Mitratech’s emergence as a leader in HR compliance and talent strategy, augmenting the company’s existing portfolio of award-winning I-9 compliance, background screening, employee onboarding, and policy management solutions. Investment in technologies like Circa and Trakstar continue to be the driving force behind Mitratech’s vision to help organizations deliver world-class, end-to-end employee experiences — from the time a candidate accesses a job posting through their hiring, onboarding, and continued growth and development.
AI and Copyright Law and Creators
The human creative community, the U.S. Copyright Office, and AI-enabled creators all have different ideas about where copyrightable human creativity begins. Are you entitled to royalties if your work is used to help train a model? If a model is prompted to create something that is inspired by a bunch of different styles is that work “original?” If a human uses what they’ve learned to craft a prompt is the result of that prompt “original?” Humans learn by mimicking. In fact, human beings are the most successful mimics on the planet. “Watch Mommy!” or “Daddy will show you how to do it,” or “Repeat after me” are phrases we have heard all of our lives. You will learn about this subject by mimicking the words, acronyms and concepts written here – that’s why you are reading. Generative AI learns in a very similar way. Has it crossed a line? If it has, we’ve been walking up to the edge for decades. Let’s explore.
JobAdder secures SEEK reinvestment to bolster expansion and growth
Recruitment software platform, JobAdder, today announced it has secured another round of funding from its parent company, SEEK Ltd. This additional funding will help fuel innovation and grow its Applicant Tracking System (ATS) and Customer Relationship Management (CRM) service offering for recruitment customers across the globe. Currently servicing 4,500 client accounts with 27,000 users, JobAdder targets recruitment agencies, staffing firms and talent acquisition teams who want everything in one place without the complexity typical in legacy platforms. Its simple and powerful user interface (UI) is underpinned by human-centric customer experience and flexibility with pricing and integrations. The latest investment round from SEEK will support JobAdder’s overall growth trajectory and allow the company to extend its offering within larger multi-desk agencies in Australia, New Zealand, the United Kingdom and additional global markets and branch further into the in-house talent acquisition space.
Interpreting Pitchbook’s M&A Report for Human Capital Investing
Despite harsh macroeconomic headwinds that persisted most of last year, above average deal flows persisted in 2022. But, according to the latest research from Pitchbook, it was a marked slowdown in activity from 2021, a record shattering year for M&A. What threw markets off course? According to Jinny Choi, a PE analyst at Pitchbook, staggering inflation led central banks to aggressively raise interest rates in 2022. The U.S. Federal Reserve announced seven rate hikes during the year. Europe also moved away from quantitative easing, leading the Bank of England to raise rates nine times over the same period. Undaunted, said Ms. Choi, buyers took advantage of cheaper prices, with median deal multiples declining to 8.8x EBITDA. Other factors supported M&A activity, too. PE firms still have $1.3 trillion of dry powder to invest around the globe, enabling sponsors to capitalize on attractive deals spurred by the market downturn that resulted in lower valuations.
PowerToFly Launches DEIB Features to Help Companies Attract Diverse Talent
PowerToFly, the award-winning diversity recruiting and retention platform, today announced the launch of its new flagship product — the DEIB Business Suite. The DEIB Business Suite includes PowerPro, a talent acquisition platform for attracting and hiring diverse candidates, and PowerUp, a diversity and inclusion learning hub with on-demand training, insights, and resources. The first truly end-to-end diversity recruiting, retention, and education product in its space, PowerToFly set its sights on building the DEIB Business Suite after securing $30 million in funding last year. "The DEIB Business Suite is a game-changer, set to transform talent acquisition for any organization committed to diversity, equity, inclusion and belonging. We're making diversity recruiting easy and scalable for any company committed to doing better," explained PowerToFly CEO and Cofounder, Milena Berry. At a time when 77% of employers still report difficulty in filling roles, the DEIB Business Suite aims to help HR teams adapt to the demands of a new, fast-moving, cost-conscious market.
Get the Recognition & Support You Deserve
If you’re in the job board or talent technology business and tired of seeing your company treated like a second-class subset of HR Technology, you deserve the recognition and support you’ll receive at TAtech North America & The World Job Board Forum, coming up in Austin, Texas USA on May 22-24, 2023. It is the only conference totally dedicated to your bottom-line success in the North American market. The content and connections it delivers will accelerate your sales, reinforce your brand and give you a sustainable competitive advantage in the market. Whether your company is a niche or general job board, aggregator, talent marketplace, programmatic platform, conversational AI solution, chatbot, ATS, recruitment marketing solution, recruitment advertising agency, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your company. So, don’t delay; register today.