HR Tech has grown phenomenally since early 2015.
According to data from CB Insights, financing deals in the HR Tech space has grown from $305 million over 77 deals in 2011 to $2.4 billion over 383 deals in 2015.
That’s a 8x growth in the period, climbing 707%!
You probably would have heard of startups such as Zenefits, GlassDoor and HireVue.
Collectively they have secured USD$834 million of disclosed funding.
That says a lot about the investor’s sentiment towards this space.
With my background in HR and tech, this is something I’m truly passionate about.
So it was truly amazing to be in the front row seats to learn more about the HR Tech companies in ASEAN over at HRTechTank Singapore.
What is HRTechTank?
It is a global initiative to help investors find the best HR tech companies globally.
Making this possible is Taras Polischuk.
He is an HR technology expert and an investment professional.
In addition to being the managing director of HRTechTank, he works at Talent Equity Ventures, an HR tech-focused Venture Capital firm.
Taras is also a Strategic Advisor for Talent Tech Labs, a New York-based incubator for Talent Acquisition Technology companies.
This event was also co-organised with the junior partner of the HRTechTank team, Joshua Wong, who will be focusing on the APAC region.
He also serves as the secretary for GamFed, an international gamification professionals’ trade association.
Beyond Singapore, events have been held in cities such as Warsaw, London, Berlin, Chicago, Stockholm, San Francisco, Austin, New York, Helsinki, Bangalore, Amsterdam, Hong Kong and Las Vegas.
HRTechTank Singapore: HR Technology Demo Day
The Singapore edition was held on the 25 of August 2016 at the JFDI event space.
The event seeks to bring together:
- Investors that have experience investing in the space;
- Early adopters, interested in exploring new technologies; and
- Thought leaders who are willing to support and endorse emerging products.
In line with the Unconference format, #HRTechTank provides a real opportunity to discuss and share ideas with the brightest minds in the HR Tech industry.
Investors that attended include: Alacrity Capital, DMP VC, Golden Gate Ventures, Jungle Ventures, KK Fund, Monk’s Hill, NEST.vc, NSI Ventures, Red Dot Ventures, SeedPlus, Talent Equity Ventures and TNF Ventures.
In addition, 6 top HR tech startups were selected to present their offerings to a panel of investors and buyers.
Who are the six HR Tech startups?
I thought you never ask.
In sequence of appearance, we have:
1. JobKred (Singapore)
JobKred is an online recruitment platform where we help match talent and companies effectively, using our machine learning matching algorithm.
It embraces the power of big data to build state-of-the-art prediction models that adapts along with the ever-changing labour landscape.
Referring to publicly available datasets from across industries, online data, open government data, and other labour data resources, it then uses a finely tuned system to extract and incorporate insights into their recommendation algorithms.
By analyzing millions of data points, including job titles, skills, career paths and education, JobKred is able to provide unprecedented insights into the labour market and empower data driven HR decisions.
2. Play2Lead (Singapore/Australia)
Play2Lead is a web-based gamified & social platform that helps companies deliver excellent service by making training fun, memorable and measurable.
The problem they solve is poor ROI in training.
They solve this by allowing companies to ask questions in the form of polls and quizzes that earn their audience members points as they have fun answering these questions, as well as instant rewards, without any downloads.
Companies can, in a single platform, engage audiences before, during and after live events.
The more audience members engage, the more points they earn as they have fun climbing up the leaderboard.
Lead generation is accelerated because unlike most polling apps, audience members are motivated to answer non-anonymously.
URL: http://www.getplay2lead.com/
3. TribeHired (Malaysia)
TribeHired is the first talent marketplace in South East Asia that helps talent not only get offers from IT companies who are competing to hire them, but also to get better at their skills and increase their value.
They see talent as an asset to a company, which naturally makes them in demand. So shouldn’t companies come to them with job offers instead of the other way around?
By curating talents into their exclusive top talent list, candidates have a chance to make that happen.
Talents will be getting job offers from the moment you sign up and get featured.
They also provide workshops and apprenticeships for talent who want to become even better at their skills and like to increase their exposure to more companies.
4. Salary Board (Singapore)
Salary Board provides an online service that helps professionals in Singapore research and compare salary information based on specific skills, tasks, responsibilities and more, in an accurate and reliable way.
Using machine learning and a large set of employer-reported data, they can analyse over 30 factors affecting pay to determine one’s worth in the market.
The data, in turn, would become useful to improve the compensation recommendations they give to organisations.
5. HackerTrail (Singapore)
HackerTrail is a cloud-based recruitment solution for the technology industry, designed to source and connect the right candidates with the right employer.
Most of the clients are provided with qualified and motivated candidates within two weeks of using our definitive methodology.
How?
HackerTrail seek to source and educate talent by building brand awareness about the job opportunity and prospective employer, using a proprietary tool-set.
Once candidates have been identified and engaged, they are invited to participate in challenges that are specific to the job description, making the selection process as meritocratic as possible.
The best part is, you can engage and vet hundreds of prospect in parallel, without picking up the phone!
URL: https://www.hackertrail.com/
6. GenieStaffing (Hong Kong)
Genie is the marketplace that connects businesses to a network of temporary job-seekers.
Their goal is to revolutionise the hiring process of temporary workers for businesses by eliminating market inefficiency in the temporary job market, and offer businesses quality temporary workers in under 30 seconds.
Genie primarily focuses on providing matching for low-complexity jobs.
These are jobs that are in high demand, but require relatively fewer qualifications.
Examples include brand ambassadors at events and exhibitions, field promoters, conference and event helpers and office clerks.
