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Talent Tech Joe: Key Industry Trends in Q2

TA Tech Business NewZ is the only weekly publication that focuses entirely on key announcements and individual newsmakers in the talent tech industry. It is designed for executives, thought leaders and trend-setters looking to stay on top of the ever-morphing world of talent technology.

To provide some perspective on the weekly updates included in TA Tech Business NewZ, TAtech also publishes Talent Tech Joe, a quarterly summary of the key trends shaping the field of talent technology. Each quarter, Talent Tech Joe highlights the major dynamics affecting the organizations that design, develop, produce and sell technology-based talent acquisition products and services.

Before we introduce Q2's Talent Tech Joe, however, we offer the following shameless plug:

Registration opens for TAtech North America & The World Job Board Forum

If you’re tired of Zoom webinars but reluctant to head back to an HR/TA in-person event with 8,000 of your closest friends, TAtech North America & The World Job Board Forum is the conference for you! To be collocated with the SHRM Talent Management Conference & Expo on August 23-25 in Las Vegas, this conference provides an intimate setting for business discussions and networking among talent technology company CEOs and senior members of their teams. Featuring the one-of-a-kind TAtech Deal Center, it’s the perfect place to connect with prospective business partners and investors and keep an eye on competitors and new trends and products in the market. Whether your company is a niche job board or a CRM platform, an ATS or recruitment marketing agency, you’ll get more value for your conference investment by attending TAtech North America & The World Job Board Forum.

Q2 Talent Tech Joe

Trend #1: The Top of the Funnel is Attracting a Lot of Attention

Talent technology companies are attracting significant new funding from current and new investors in order to offer employers more robust sourcing options and better yields in a persistently difficult talent market. For example:
• In April, Catalant Technologies closed a $35 million funding round “to meet increased demand as more companies choose high-end freelancers over traditional consulting firms.”
• In May, Handshake added $80 million to its funding (bringing the total to $235.5 million) to help “millions of students from all backgrounds get hired and launch their careers.”
• In June, Jumpstart rebranded as Canvas and closed a $20 million round to build out “the world’s first Diversity Recruitment Platform (DRP).”

Trend #2: Consolidation Amps Up as Employers Ask for More

Talent technology companies are acquiring others in the category in order to expand their market footprint, enhance their user experience and/or extend the range of products they can offer to employers. For example:
• In April, Jobcase, a “social platform dedicated to empowering and advocating for workers,” acquired to expand its network and job matching capabilities.
• In May, Totaljobs acquired AI provider Mya to “interact with its users conversationally through new channels to discover more about precise job seeker preferences, skills and interests.”
• In June, Talent, Inc. acquired Imkey Holding B.V., a global subscription-based platform for online resume-building, to extend “its suite of professional career-services brands.”

Trend #3: Providers Accelerate Product Upgrades and Introductions

Talent technology companies have accepted today’s market truism that standing pat with even the best of products is the kiss of death, so they are upgrading their current capabilities and adding new ones at a furious pace. For example:
• In April, Talroo released its Talroo Ad Platform, “an all-in-one platform agnostic solution that brings Talroo’s existing products together in a single talent attraction gateway.”
• In May, Greenhouse introduced Welcome, “a new platform to create thoughtful, curated onboarding experiences for new hires that extends beyond paperwork and logistics.”
• In June, Cadient unveiled a product, “which infuses machine learning and augmented intelligence (AI) to help organizations identify and hire employees more efficiently.”

Plus TA Tech NewZ Makers we covered in Q2:

@DanSapir, @DanLevin, @ChrisHsu, @CindySongne, @BobMemmer, @TobiasWelzel, @PhilippeBonin, @TheoRokos, @BrianBreth, @FelixWetzel, @NickGalullo, @JessicaJensen, @MikeMarschke, @JackRussell, @AlexanderStrahl, @MattEkstrom, @StephenMcGraph, @KatieHunter, @RickWehrle, @JeremyTipper, @JayBartlett, @RachelOrston, @HansBukow, @SpiroPapanicolaou, @MikePauletich, @KeithRemling, @KeithBurgess