Curated Intel from the Talent Tech Industry
April 25-30, 2022:
• Pulling in a record harvest on two continents: Redarbor grows 46% in 2021 & invoices €30.8M;
• Putting on the brakes: Facebook stops hiring as revenue growth slows and inflation fears rise;
• Seeing double: Claira raises $3.5M to create a digital twin of a company’s human capital;
• Paying temp workers faster: Jobandtalent raises $250M debt facility for flexible wage payments;
• Downshifting to a more measured pace: Global venture funding drops to lowest level in a year.
• If you’re in the job board, recruitment marketing, ATS, chatbot or conversational AI, CRM, assessment & interviewing or any other talent technology business, don’t miss the only conference designed specifically for you: TAtech North America & The World Job Board Forum. May 31-June 2 in Austin. It’ll be the largest gathering of your peers in almost three years. And, you should be there as well!
Redarbor grows by 40.6% in 2021 and invoices €30.8M
These last few weeks we have had very good news. After the purchase of 100% of Infojobs Brasil and the recognition as the 3rd best company to work for in Spain, the results of last year and the first quarter of 2022 have now been made public. In 2021 Redarbor has grown by 40.6%, reaching a turnover of 30.8 million euros. These data confirm the positive evolution with the recovery of activity levels after a context marked by COVID-19. In addition, in 2022 we continue with the same trend, since we estimate to end the year with an acceleration of more than 45%, after the good pace of business of this first quarter. We are very satisfied with the results obtained. Undoubtedly, one of the main keys is the great work of the more than 450 professionals who are part of Redarbor and who, especially during the most complicated moments of the pandemic, had an essential response and capacity to adapt to minimize the impact of the health crisis.
Facebook to cut hiring as revenue growth slows and inflation concerns increase
Facebook parent Meta is slowing the pace of hiring as it reckons with its weakest revenue growth on record and ongoing business challenges, such as Apple's privacy changes and the war in Ukraine. In its earnings report last week, Meta forecast a potential year-over-year revenue drop in the second quarter. CFO David Wehner highlighted several issues facing the company, and said expenses for the year would be between $87 billion and $92 billion, down from a previous forecast of $90 billion to $95 billion. Meta intends to stop or slow hiring for most midlevel and senior-level roles, after holding off on adding entry-level engineers in recent weeks, according to a person familiar the company's plans. Recruiters have started pausing their efforts to fill certain roles, said the person.
Claira raises $3.5M in seed funding to optimize human capital
Claira, the competency analytics engine, today announced it has closed a $3.5M Seed round led by Heartland Ventures, with participation from Trend Forward Capital, Connetic Ventures, Invest Detroit Ventures, and Northern Michigan Angels. Claira leverages machine learning to create a dynamic digital twin of a company's human capital. By mapping workforce capabilities with Claira, business leaders are empowered to improve diversity, identify and close resource gaps, provide learning and upskilling opportunities, predict future workforce needs, and hire talent on demand. More than 10,000 users have added thousands of competencies to their profiles in the first year of activity alone. The company will use the funds to advance machine learning capabilities and accelerate rollout to key customer segments.
Jobandtalent raises $250M debt facility to enable flexible wage payments to workers
Jobandtalent secured USD 250 million debt financing from US investment banks Citi, Goldman Sachs and European investor AnaCap Financial Partners (“AnaCap”). The debt financing will allow Jobandtalent to facilitate tangible benefits and enhance its foundation for innovative financial products offered to workers. For example, it will be used to enable daily payments and free early access to wages (applicable to most jurisdictions) in the coming months. Jobandtalent expects the financing to assist it in its mission of reshaping temporary work and providing the conditions for people to truly thrive. Jobandtalent was founded in 2009 in Madrid and harnesses the power of technology and data to connect people with a steady stream of work through a managed job platform, which tears down the barriers to job searching and hiring. In 2021 the company placed over 200,000 people on new jobs in over 2,000 companies, has the highest NPS in the industry and is operating in 9 countries across Europe, Latin America and the USA.
Bad News: Global VC Funding In April Dipped Again. Good News: It Wasn’t A Nosedive
Global venture funding totaled $47 billion in April 2022—the lowest amount invested in private companies in the past 12 months—based on an analysis of Crunchbase data. While the dip isn’t massive, it does signal that the slowdown we saw in the first quarter of this year is the start of a longer-term shift in funding, particularly at late stage. All in all, April funding fell 10 percent month over month from $52 billion in March and down 12 percent from $53.5 billion in April 2021. Generally, a 10 to 12 percent dip in funding dollars is not a huge drop, especially considering that April’s total still far exceeds funding in any given month in 2020 by between $5 billion and $29 billion. But, funding in the past few months does indicate that the environment is shifting away from the record setting peaks of 2021, when global funding doubled compared to 2020. The opening up of the public markets in 2021, the unprecedented number of new technology listings and the increased valuations drove investors to value private companies at increasingly lofty prices. That funding climate has cooled off, but not disappeared.
The Only Conference Totally Dedicated to the Talent Technology Industry
If you’re in the job board, recruitment marketing, ATS, chatbot or conversational AI, CRM, assessment & interviewing or any other talent technology business, don’t miss the only conference designed specifically for you: TAtech North America & The World Job Board Forum. May 31-June 2 in Austin. It’ll be the largest gathering of your peers in almost three years. And, you should be there as well! Speak with leading industry analysts, see some of the new products entering the market, do deal with partners and buyers, and tap into the latest research on how to build a successful tech company. You can do it all and still have time for some networking and power partying. Join us!