AI-based solutions for recruitment, upskilling and employee management along with startups venturing in employee assessment and B2B reskilling are garnering attention from investors, local and global.
In 2019, investors advanced $116 million into 19 companies, more than double from $55 million in 2018, according to data collated by Venture Intelligence.
Tier-2 and tier-3 cities with a focus on HR and Job tech have added an advantage now to make the cut for investment. Already successful companies such as Darwinbox and InterviewBit are back in the market, clinching series-A or higher rounds after raising seed round a couple of years ago. Sequoia, Accel India and Tiger Global participated in the funding.
"This year we are seeing interest in HR tech among other B2B sectors. Besides PE/VC activity, investor interest also comes from Asian companies. Notable names are Japan-based Recruit Holdings and Beenext, which invest in the Indian HR tech space." said Venture Intelligence MD Arun Natrajan.
Global giant Xiaomi recently invested $5.8 million in the job portal ‘WorkIndia’