Global HR Tech Report Q3 2023

For our Q3 2023 Global HR Tech Market Report, we took a close look at the global HR Tech industry to provide a comprehensive market update. We’ve observed strong market traction despite the current economic uncertainty with 181 HR Tech transactions in Q2 2023 and $1.2bn+ total invested capital in HR Tech in Q2 2023.

“Investors continue to prioritize HR Tech as a key area of interest. The market is experiencing an unparalleled demand for cutting-edge technologies that streamline workplace processes and improve the overall employee experience from recruitment to retirement. Notably, investment activity in the sector remains high, and the public market valuations of Human Capital Management and Talent Management companies are steadily rising,” said Ralf Philipp Hofmann, Managing Partner & Co-Founder of Drake Star.

Jim Holzer, Managing Partner at Drake Star, adds: “While HR Tech capital raises slowed in Q2, the number of M&A transactions increased to 50 accounting for $630m in disclosed value. As we head into the second half of the year, we’re seeing heightened interest in exploring M&A deals.” 

The report includes a broad range of facts & figures which outline key industry dynamics and developments:

  • A detailed look into the areas of talent acquisition and human capital management / talent
    management and relevant companies in each field
  • Respective share price performance, enterprise values, investment activities and other
  • An overview of notable HR Tech M&A Deals in Q2 2023
  • Our Industry Q&A with Kimberly Breuer, the co-founder and CEO of Likeminded, a digital mental health platform, where she explains which market trends she sees and why mental
    health has gained more attention in our society, and in the HR and HR Tech space

Download the report below to access our comprehensive yet detailed analysis of the recent developments of the HR Tech market.


For further inquiries, please contact:

Ralf Philipp Hofmann

Managing Partner, Member of the Executive Committee


Digital Services


Jim Holzer

Managing Partner


Digital Services

New York


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