In 2015 and 2016, over $4 billion in venture capital money was pumped into the HR technology category. We estimate that about a quarter of that money has made its way into talent acquisition technologies and services.
“Nothing can be believed which is seen in a newspaper. Truth itself becomes suspicious by being put in that polluted vehicle.” The 2016 presidential election sparked quite an uproar about the prevalence of fake news articles. However, this quote is not from 2016; it was written by Thomas Jefferson in 1807. Fake news is not a new problem, but it is a very real one.
2016 was a big year for HR tech. At TSC, we’ll remember it as:
- The year the nature of solutions changed to focus on the experience of being an employee — and irreversibly away from simple process automation
- The first year cloud HCM systems beat on-premise deployment
- A year of huge investments in HR tech;in fact, total VC investment in the last two years has surpassed the last 20, and this trend doesn’t look like it’s slowing down anytime soon