This market update looks at the April 2020 HR Tech M&A and fundraising activity, presents the latest HR Tech public market valuations, reviews the impact of COVID-19 on the job market (new jobs posted by country in April vs. previous 12 months), and summarises 1Q 2020 earnings reports and updated outlook for selected Core HR, Payroll & Benefits firms, Learning & Development businesses, Talent Acquisition platforms and Recruitment firms (permanent as well as temporary).
Following a significant pullback in March, valuations for Future of Work companies rebounded in April. Pure HR Tech companies saw a more significant uptick (+15%) compared to their diversified peers (+6%). HR Services, meanwhile, increased by 10% on average but their multiples remain significantly below those of tech-driven businesses.
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