November was a near-record setting month for WorkTech M&A activity, with 20 transactions announced globally. This included Vettery's acquisition of Hired.com, Vonq's acquisition of IGB, OutMatch's acquisition of Checkster, iCIMS' acquisition of EASYRECRUE and SmartRecruiters' acquisition of jobpal. Public trading valuations for pure HRTech firms closed at a record average of 10.7x CY2020 revenues. Investments in Future of Work businesses totaled $542M in November across 40 deals.
November 6, 2025
Q3 2025 Future of Work M&A and Investment Activity
Deep dive into the M&A and investment activity for WorkTech and HR Tech businesses globally during Q3 2025 and over the preceding 12 months.




.webp)