2022 was a turbulent year for developing and funding new HR technologies. After a strong first two quarters, the average amount of investments decreased in the third and fourth quarters, recording $27.1 million and $19.4 million, respectively.
In total, there were 155 significant announcements with at least $1 million in funding in the fouth quarter of 2022, an increase from the 107 announcements in the third quarter. And although there were more announcements in the fourth quarter, the private equity and venture capital firm investment in HR technology decreased from $1.16 billion in the third quarter of 2022 to $1.13 billion invested in Q4.
Download the full report to see how HR technology developed at the end of 2022.