PitchBook News - VC funding for HR tech soars

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The Daily Pitch: VC

February 3, 2022

Like our newsletter? The data comes from the PitchBook Platform — our data software for VC, PE and M&A

In today's Daily Pitch, you'll find:

Coller Capital is looking to raise $1.4 billion for its inaugural fund dedicated to private debt secondary deals as the global secondaries market heats up.

VC funding for HR tech is maintaining its momentum in 2022 as more employers focus on diverse workforces and remote work arrangements.

Money transfer specialist Zepz plans to go public in the US instead of its native UK, in a setback for policymakers trying to entice more tech startups to list in London.

Today's Top Stories

Tracking healthtech startups' partnerships with corporations, agencies and more

(Mint Images/Getty Images)

Partnerships represent a key strategy for business development and can lend important insight relevant to market trends and growth opportunities. Our new Healthtech Partnership Tracker seeks to provide an extended list of recently announced partnerships between healthtech companies and other healthcare stakeholders, such as corporations, government agencies and insurers.

We also provide an overview of partnership trends with an analysis of key partnership types.

see the tracker

Share:

VC funding for HR tech soars amid focus on diversity, remote work

(Feodora Chiosea/Getty Images)

HR tech had an exceptionally robust 2021 as companies in the sector stepped up to help employers hire diverse workforces and navigate hybrid or remote work arrangements.

Last year, venture investors funneled more than $12.3 billion into global HR tech startups, according to PitchBook data. So far, that momentum has carried over into 2022.

Recommended Reads

How the "Great Resignation" is forcing many businesses to rethink their hiring practices. [Fortune]

Tiger Global isn't looking to bet on original ideas or companies just getting off the ground. It's all a part of the firm's winning strategy, writes financial journalist and author Sebastian Mallaby. [The Information]

Last year, a San Francisco-based nonprofit began a basic-income pilot. Here's a look at what happens when you give unhoused people monthly $500 checks. [Fast Company]

Since yesterday, the PitchBook Platform added:

33

VC valuations

1843

People

553

Companies

24

Funds

See what our data software can do

Quick Takes


	The Daily Benchmark
	2011 Vintage Global Real Estate Funds
	VC Deals
	NFT startup Pixel Vault secures $100M
	Verdox picks up $80M
	PlexTrac scoops up $70M
	Pecan AI brings in $66M Series C
	Insight Partners leads $56M round for RudderStack
	Torii collects $50M in Tiger Global-led round

The Daily Benchmark

2011 Vintage Global Real Estate Funds

Median IRR

13.31%

Top Quartile IRR

19.31%

1.59x

Median TVPI

Select top performers

C-III Recovery Fund I

Exeter Industrial Value Fund II

SH Group I

*IRR: net of fees

52 Funds in Benchmark »

Check out the latest version of PitchBook Benchmarks

VC Deals

NFT startup Pixel Vault secures $100M

Pixel Vault has raised $100 million from Velvet Sea Ventures and 01A. The company plans to launch an NFT development platform that will enable artists, creators and collectors to participate in the ownership of digital content.

Verdox picks up $80M

Verdox has raised $80 million from investors including Breakthrough Energy Ventures, Prelude Ventures and Lowercarbon Capital. Based in the Boston area, Verdox is a developer of electric carbon capture and removal technology.

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PlexTrac scoops up $70M

PlexTrac has raised a $70 million Series B led by Insight Partners, with support from Noro-Moseley Partners, StageDotO Ventures and Madrona Venture Group. The Boise, Idaho-based company offers a cybersecurity platform that helps enterprise customers unify and manage security operations.

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Pecan AI brings in $66M Series C

Pecan AI has raised $66 million in a round led by Insight Partners. Based in Tel Aviv, the company is the developer of a predictive analytics platform for business intelligence analysts. Pecan was valued at $118 million in April, according to PitchBook data.

Additional Investors:

GV, Dell Technologies Capital, GGV Capital, Mindset Ventures, S Capital, Vintage Investment Partners

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Insight Partners leads $56M round for RudderStack

RudderStack, the creator of an open-source customer data platform for developers, data analysts and product teams, has raised a $56 million Series B led by Insight Partners, with support from S28 Capital and Kleiner Perkins. Based in the Bay Area, the company was valued at $101 million in June, according to PitchBook data.

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View 85 competitors »

Torii collects $50M in Tiger Global-led round

Torii has raised a $50 million Series B led by Tiger Global. The New York-based company offers an automated SaaS management platform designed to help businesses manage cloud applications.

Additional Investors:

Entrée Capital, Global Founders Capital, Scopus Ventures, Uncork Capital, Wing Venture Capital

View round

View 50 competitors »

Chart of the Day

"Software late-stage pre-money valuations climbed to a lofty €27.2 million through Q3 2021, nearly double the record figure from 2020. Disruptive software businesses targeting longstanding sectors have been a core component of the growing VC ecosystem."

Source: PitchBook's Q3 2021 European VC Valuations Report