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.
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