Is there really a need for another HR tech conference? It’s a valid question. We have watched $15 billion in VC and PE money flood into HR technology investment since 2014 and companies such as LinkedIn, Ultimate Software, and Qualtrics have commanded premium prices in acquisitions over the past few years. It’s not surprising that event promoters have followed the money.
Part 1: How Drake impacts HCM (no, really).
The Top-line Context
Jobvite picked up an investment of $200 million and is using it to acquire three smaller companies:
- Talemetry (recruitment marketing)
- RolePoint (employee referrals and in-company moves)
- Canvas (a text-based conversational screening bot)
Post-acquisition, the combined company will have north of 2,000 customers. No valuation was disclosed in this deal. As noted by TechCrunch, the last valuation of Jobvite is pretty old — September 2014 — and was around $150 million, although the company has never confirmed that.