January 15, 2019 – France-based Talentsoft, a cloud-based human resource software solutions provider for talent management learning, has raised $50 million in a financing round which it says will boost continued growth via innovation and international market expansion.
Francisco Partners leads the new investment, alongside existing investors Bpifrance and Goldman Sachs who are strengthening their capital. The total funding round announced by Talentsoft is $50 million and ranks among the 10 largest funding rounds in Europe in 2018 for enterprise software. The entire investment will be used to accelerate expansion, reinforcing the company’s position as a European leader in HR tech.
“This funding round marks a new phase in the history of Talentsoft, and we are proud to be backed by leading venture capital firms,” said Jean-Stéphane Arcis, CEO of Talentsoft. “Our existing partners, Bpifrance and Goldman Sachs, and new investor Francisco Partners, have shown strong confidence in what we are doing. We aim to go even further by becoming the first HR Tech platform in Europe with our new iPaaS program, which will make Talentsoft the No.1 destination for market innovations in HR.”
Talentsoft said its strategic direction is now based on three pillars:
- International Development Acceleration:Mastering talent management issues and best practices for international groups, the Talentsoft solution is now used in more than 130 countries and available in 27 languages. The company intends to capitalize on this expertise to support its large customers in their global deployments.
- Innovation:Talentsoft will leverage hundreds of developers to transform the work experience of millions of employees, as well as to strengthen Talentsoft HUB, the company’s core HR offer.
- External Applications: Jean-Stéphane Arcis affirms the strategy to make Talentsoft the leading HR Marketplace in Europe. The company will thus pivot from a SaaS model to an iPaaS model (Integrated Platform as a Service). Technology partners will now have the opportunity to integrate new services on a continuous basis, in order to meet customers’ expectations as closely as possible.
Talentsoft is focused on optimizing the employee experience while taking into account the cultural, linguistic and regulatory specificities of HR management in Europe. As a result, Talentsoft represents a strong alternative for organizations for whom managing employee data is strategic. Founded in 2007, the company has 600 employees, with customers in more than 130 countries in 27 languages.
Talentsoft’s 2,000 clients include large organizations, including EDF, Vinci, Lacoste, MaxMara, Toyota Europe, ST Microelectronics, Deutsche Bahn, Dorchester Collection hotels and National Bank of Belgium.
Investors are pouring money into recruiting solutions businesses, especially those with an AI component. Here’s a look at some recent funding deals secured by these companies from the Hunt Scanlon Media archives:
pymetrics, an enterprise SaaS company that uses neuroscience and AI to make the recruitment process more effective, has closed a $40 million Series B funding round. pymetrics utilizes neuroscience and AI to assess job applicants across a range of cognitive, social and emotional traits and algorithmically recommend the best-suited candidates to companies.
Scout Exchange, a recruitment marketplace connecting employers with specialized recruiters, has received $100 million in funding from TRI Ventures. The funding will accelerate growth of Scout’s recruitment marketplace, which has been adopted by hundreds of employers including 50 Fortune 500 companies and thousands of specialty recruiters.
Reflektive, an HR analytics and employee engagement platform, has raised $60 million in Series C funding. The company said it will use the cash infusion to invest in research and development to help grow its cloud-based platform of people management solutions. It also plans to double its engineering team and expand strategies worldwide.
ENGAGE Talent, an AI software company that helps companies identify and effectively engage with passive candidates, has raised $3 million in new funding. Participating investors included Revolution’s Rise of the Rest Seed Fund, Refinery Ventures and Grand Ventures.
Joveo, a recruitment technology platform, raised $5 million in Series A funding led by Nexus Venture Partners. The start-up intends to use the cash infusion to continue to accelerate its product offerings, expand its partnerships and scale its AI/deep-learning layer. Apart from the funding announcement, Joveo also made public its acquisition of Ripple Labs.
New York-based human cloud firm Hyr raised $1.3 million in a seed funding round led by venture capital firm Flybridge Capital Partners, according to media reports. Hyr, which matches gig workers with hospitality companies, has boarded more than 10,000 workers since it started last year. The company is led by Erika Mozes and Joshua Karam.
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media