Venero Capital Advisors is organising an online webinar on How ChatGPT and Generative AI can be used in HR Tech.
The session will be led by Chris Collins, founder of RoboRecruiter (acquired), who now helps businesses integrate AI, Large Language Models and ChatGPT into their product offerings. Chris will provide an overview of ChatGPT's capabilities and will demonstrate relevant use cases for HR Tech vendors, including using its API's to create plugins. Topic: Using ChatGPT in HR Tech View recorded session, on-demand: Click here It may not feel this way, but Work Tech is gearing up for a robust M&A recovery in 2023. Following a pause in new process launches last year, there is a notable uptick in businesses looking to explore strategic options this year. For some this is a necessity, with venture funding less abundant and some customers, particularly in tech, tightening their purses. For others, KPI’s have remained robust, and coming to market is a choice contingent only on sentiment improving – or at least stabilizing.
In terms of numbers, 47 Work Tech acquisitions were announced in Q1 2023. This is a c. 45% drop compared to the 84 per quarter, on average, announced during the previous four quarters. Considering the c. 6-9 month lag between an M&A process launching and it being announced, today’s numbers reflect last year’s slowdown. Venero Capital Advisors is a proud sponsor of the Innovation Stage at Transform2023. The conference's evolution into a people-driven thought leadership ecosystem for HR Tech and Work Tech represents everything we love about Transform and more.
Join us in Las Vegas at Transform 2023 as we, together, inspire more meaningful connections, celebrate more impactful innovations, and spark deeper conversations that will continue to shape the future of work all year long. Companies interested in tapping the debt financing market should note that lenders today are equipped with all-weather intelligence and decision-making frameworks. This facilitates continuity of lending activity during periods of high or low inflation and interest rates, positive or negative economic outlook, financial and geopolitical disruptions, and the likelihood of corporates' distress. As such, 2023 is unlikely to mark a departure from the lenders’ strategies and tactics of 2022. Instead, we are seeng creative approaches to debt financing structures, increased enthusiasm for quality deals and a greater focus on earlier start to relationship-building with borrowers.
The macro narrative in 2022 was dominated by high inflation, the possibility of an economic recession, and disrupted asset values, particularly high-valued technology stocks. For HR Tech and Work Tech businesses, this narrative had the most profound impact on capital raising, which saw volumes drop to $2.0bn in Q4, levels last seen in Q2 2020, at the peak of the Covid-19 pandemic. However, total funding in 2022 was $19.4bn – a record amount, eclipsed only by the $46.1bn raised in 2021 and higher than the $12.7bn raised in 2020. M&A volumes remained resilient for most of the year, with the effects of the adverse market sentiment not appearing until Q4, reflecting the slowdown in new deal originations earlier in the year.
As we move into 2023, we expect that these themes will continue to affect sentiment in HR Tech and Work Tech. However, their impact will likely change due to the swift tightening of monetary policy in the US and Europe, which has started to affect a range of areas in the economy and capital markets, including inflation, consumption, employment, and business investment. If inflation in the US and Europe continues to decline without a sharp increase in unemployment, this would imply a higher probability of a much-desired soft landing–a scenario that many thought very unlikely just a few months ago. LONDON, PARIS, BERLIN, LOS ANGELES, 9 January, 2023 – In 2022 Venero Capital Advisors ranked as the #1 HR Tech focused M&A and corporate finance advisor globally by deal volume. The firm has been delivering almost a deal per month on average and in the last two years completed 17 M&A, debt financing, and equity financing advisory transactions for HR Tech and Work Tech businesses across Europe, N. America and Australasia – a track record that is by far the largest within the HR Tech sector compared to any other investment bank.
Upstream is a leading MarTech company in the fastest-growing markets in the world. Its mobile marketing automation platform, Grow, combines innovations in marketing automation and multi-channel digital communication, delivering tangible ROI on every marketing dollar spent for its customers. Venero Capital Advisors acted as exclusive financial advisor in the refinancing of a €25 million long-term debt facility aimed at expediting scaling up Upstream's Mobile Marketing Technology. LOS ANGELES, CA December 8, 2022 – Certemy, a leading provider of SaaS employee compliance and credentialing management software for employers and professional credentialing organizations, announced the successful closing of a Series B funding round led by Numeta Capital and Apis Holdings. The Series B funding included the conversion of a prior series of convertible notes. Investment banking advisory services were provided by Venero Capital Advisors Ltd. Legal services were provided by Blank Rome LLP. VANCOUVER, CANADA and PARIS, FRANCE, October 24, 2022 – Boostrs, a Paris-headquartered European leader in mapping and matching employee skills in order to deliver HCM solutions, has announced the acquisition of its assets by Visier, the Canada-headquartered globally recognised leader in people analytics with 25,000 customers worldwide. Venero Capital Advisors acted as exclusive financial advisor to Boostrs.
LOS ANGELES, LONDON and ZURICH, October 11, 2022 – Marlin Equity Partners has acquired People-Analytix AG, an AI-based employee skills management platform. Headquartered in Switzerland, the company’s skills management platform includes a proprietary multilingual skills ontology with over 20,000 unique skills, enabling companies to identify organizational skills gaps, uncover workforce trends and match employees to jobs, projects and learning. People-Analytix will be merged with Learning Pool, an existing Marlin portfolio company. Venero Capital Advisors acted as financial advisor to People Analytix.
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