Although venture capitalistsAs startup founders and major tech companies race to see who can say “AI” the most in a week, people are busy building other, more useful things.
One particular group caught our attention: companies developing human resource management software.
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TechCrunch+ pointed out in March that there is an emerging crop of HRtech unicorns in the US that are ripe for listing when the window opens. But our initial scope proved limited, as HR tech is now also hot in Europe and worthy of attention.
It makes sense that HR tech has managed to grow rapidly, but still flies in the spotlight—it won’t be touted as the economic model of the future, or criticized for its ability to potentially end civilization.
Still, HR tech companies often find themselves moving hundreds of millions, if not billions, of dollars through their channels, thus becoming large and lucrative.
Today, we are digesting a Recent GP Bullhound Reports About HR Tech Europe to broaden our general understanding of the industry in anticipation of IPOs becoming a reality again.
Transforming into a unicorn, one paycheck at a time
Strikingly, GP Bullhound reports that there is just as much optimism surrounding HR tech as there is around artificial intelligence and climate tech. “We expect these industries to breed the next tech giants, with levels of bull market funding remaining constant if not increasing, and the number of companies growing exponentially,” the report said.