Curated Intel from the Talent Tech Industry
August 15-22, 2022:
• Changing the way work gets done: UPSKLS acquires UK internship solution Work Simplr;
• Growing fears of recession globally: Economic storm clouds gather in major world markets;
• Leveling the field for SMBs: IsoTalent raises $5M to launch on demand hiring marketplace;
• Building the HR tech wave: HiBob’s valuation surges 50% to $2.45B on a $150M raise;
• Finding a way to really know candidates: BeReal skyrockets to #1 on iPhone chart of free apps.
• Three of the most important areas in talent acquisition are the subjects of this fall’s TAtech Leadership Summits: Technology & the Candidate Experience (September 28 NYC), Applications of Recruiting AI for Enterprise Employers (October 25 Chicago), and Recruitment Marketing (December 1 Boston). Sponsorships are still available, but going fast so contact TAtech CEO Peter Weddle (email@example.com) right away!
UPSKLS Acquires Work Simplr to Change the Way Work Gets Done
UPSKLS, the Colorado-based leader in on-demand work sourcing, today announced the acquisition of Work Simplr Ltd, the United Kingdom-based startup who built a virtual internship hosting and management solution for the future of work. The combined company will deliver the world’s first on-demand work platform to meet the needs of organizations, large and small, to get repetitive mission-critical work done quickly, affordably, accurately – and on demand. The company will fundamentally change the way the organizations get work done, improving productivity, operational agility, and quality while reducing fixed costs and the need for specialized project management skills. As part of the acquisition, UPSKLS will change its name to Work Simplr.
Economic Storm Clouds Gathering Around the World
Countries across the world are facing high inflation, economic fallout from a pandemic, and an energy crisis caused by the war in Ukraine. While not unique to the Western world, these issues are dragging down the economies of the United States, the United Kingdom, and Germany, causing negative or neutral GDP growth. Fears of a recession are compounding in each of these economies but the chances of one occurring are not equal across the board. Here are the trends: In the U.S.: Negative Growth, Strong Labor Market. In the U.K.: High(est) Inflation, Consumer Woes. In Germany: Energy Crisis, Aging Workforce. Read more to get the details.
IsoTalent Raises Seed Round to Launch Global Hiring Marketplace
IsoTalent announces closing a $5 million seed round to launch its global, on-demand hiring marketplace. The investment round was co-led by Crocker Ventures and Ad Ventures, and included Sweater Ventures and several high-profile angel investors. With this new funding, IsoTalent aims to expand its tech-enabled global hiring marketplace: on-demand recruiter services, an international hiring division (IsoGlobal) and a free applicant tracking system (IsoConnect ATS). "IsoTalent has built a global hiring marketplace that allows any company, regardless of size, to recruit and hire an employee anywhere in the world." says Paul Ahlstrom, CEO and co-founder of IsoTalent. "We level the playing field for small and medium companies by connecting jobseekers, recruiters, and hiring managers. The legacy industry needs a hard reset to keep up with global demand, solve talent shortages, and weather the economy. Our model provides businesses with competitive pricing, tech, and scalable solutions for teams."
HR startup HiBob’s valuation surges 50% to $2.45B on a $150M raise
Cloud-based human resource (HR) platform HiBob today announced that it has raised $150 million in a Series D round of funding at a $2.45 billion valuation. This represents a nearly 50% increase compared to its Series C valuation round just 10 months ago, when it also raised $150 million. Founded out of Israel in 2015, HiBob’s platform — which it calls Bob — gives HR teams many of the tools they need to manage their workforce, including automating onboarding workflows for new-hires, managing timesheets and time-off approvals, conducting surveys and more. It’s worth noting that one of HiBob’s rivals in the space, Personio, recently raised $200 million at an $8.5 billion valuation — a 35% increase on the past year. So it’s clear that investors are pretty bullish about HR tech, particularly at a time when businesses are navigating a new world where remote- and hybrid-working has increasingly become the norm, and competition for talent has reached fever pitch. “The competition for talent remains intense even in the midst of increasing market uncertainty,” HiBob CEO and co-founder Ronni Zehavi said in a press release. “Modern businesses that value their talent know that HRIS (human resource information systems) is not simply about headcount growth, but rather about effective and proactive people management during periods of expansion and contraction.”
Social network BeReal shares unfiltered and unedited moments from our lives—will it be the next big thing in recruitment?
BeReal hit the social networking scene in late 2019 but didn't take off until downloads started skyrocketing in 2022. So, what is BeReal all about, and is it here to stay? BeReal is based in France and was founded by Alexis Barreyat in December 2019. At this stage, it doesn't feature any paid advertising and is funded by venture capital. Although the big names such as TikTok, YouTube and Instagram still dominate global social networking popularity rankings, BeReal's rapid growth has grabbed attention this year. BeReal reached number one on the iPhone charts for free apps in July 2022 and currently has more than 21 million active users per month. The platform works by sending one randomly timed notification per day to users and gives them two minutes to take simultaneous photos with the front and back cameras on their phone and share it with friends. Users cannot manipulate the timing of the notification and it's sent at the same time to every global user. BeReal mandates no filters, no editing, no followers (except friends), and no cheating. Right now it's for fun, but another possible use springs to mind: Could it be a way for recruiters to really get to know their employment prospects … kind of a Candid Camera for candidates?
Summer’s about over; time to get ready to roar this fall
Three of the most important areas in talent acquisition are the subjects of this fall’s TAtech Leadership Summits: Technology & the Candidate Experience (September 28 NYC), Applications of Recruiting AI for Enterprise Employers (October 25 Chicago), and Recruitment Marketing (December 1 Boston). These one-day, one-topic conferences are specifically designed to promote dialogue and connections among busy corporate and industry leaders. Each program provides both a deep dive into an important talent acquisition strategy and plenty of time for senior-level peer-to-peer networking. That makes them the perfect venue for building your brand and generating sales leads. Sponsorships are still available, but going fast so contact TAtech CEO Peter Weddle (firstname.lastname@example.org) right away!