Oct 11 2021

Q3 2021 (Jul - Sep): Global HRTech Investments & Startup Funding

“The HRTech market segment has continued to maintain strong momentum with the investment of $8BN+ in the third quarter of 2021 as compared to the year 2020 with only $1.6BN+ deals in the HRTech Industry.”

by  Riya Shah, Junior Consultant, hrtech.sg

The HRTech market segment has continued to maintain strong momentum with the investment of $8BN+ in the third quarter of 2021 as compared to the year 2020 with only $1.6BN+ deals in the HRTech Industry across 8 main HR categories:

  • HRMS
  • Talent Acquisition
  • Talent Analytics
  • Talent Development
  • Talent Engagement
  • Talent Management
  • Talent Operations
  • Total Rewards




The top 3 trending categories according to our preliminary research are:

Talent Engagement: They may develop and install a culture of connection, boost productivity, and build a more resilient workforce for competitive advantage by taking a whole-person, human-centered approach to all they do. The focus is on the entire workforce, which includes Part-Timers, Contractors, Gig Workers, Secondments, Interns, Potential Employees, and Returning Alumni. Focuses on Performance Management systems, Leveraging employee collaboration to improve employee experience and a spotlight on employee Mental Health and creating inclusive workplaces.

Talent Acquisition: The focus continues to be on the freelance market & hourly workers, background screening is driving the interest for this segment as well as Applicant Tracking Systems.

Talent Development: An era of virtual, distributed, and hybrid workforce is necessitating employees to upskill & be ready for the future of work.



With SERIES C & D funding cumulatively contributing to over 47% of the total invested dollars, it indicates the focused interest of mature and proven solutions. The largest investment for the third quarter of 2021 was $250 M into Talent Operations Platform PapayaGlobal.


Riya Shah is part of the Digital HR Advisory & Consulting team at hrtech.sg. With an Industrial Psychology background, her focus at hrtech.sg is to evangelize Enterprise HR teams to adopt technology and enable their smooth transition to becoming a Strategic Business Partner.

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