2025 Report: The New Wave of #WorkTech Innovation

The last couple of years have been difficult for most businesses in the HR Tech and broader Work Tech ecosystem. However, it appears we have reached yet another inflection point. 

A new wave of innovation is spurring both customer demand and further investment into the sector. Meanwhile, 2024 was a record year for M&A. Acquisitions jumped 19% year over year beating the previous record in 2022. M&A valuation multiples also picked up for in-demand assets. 

In this 2025 report by Venero Capital Advisors we review the latest HR Tech and Work Tech themes and competitive dynamics, funding landscape, M&A activity, company valuations, outlook for the sector and more.