The Top 10 European Human Resource (HR) Tech Startups for 2021

Posted by liamjonh225 on November 1st, 2022

The Top 10 European Human Resource (HR) Tech Startups for 2021

Recent events have tested the limits of many organisations, redefining and reconstructing the idea of labour. The most prosperous startups in Europe are good instances of how it affected the HR Tech sector.

As businesses break down barriers and create fresh, cutting-edge methods to do business, the accompanying employment markets did the same and shifted further in favour of digitization.

Human resource (HR) tech businesses are actively looking for novel approaches to their operations as on-site setups are swiftly being displaced by remote work arrangements for the foreseeable future in the labour market we see today.MedsDental is a renowned Dental Billing Company in the united states, equipped of  the revenue cycle experts who are highly proficient in delivering fast and the error-free billing services to the dental practices by using the cutting edge technology.  

The HR Technology Market Landscape

Despite the COVID-19 pandemic's rise, the European human resource market has grown considerably in recent years. The market saw investments in HR software firms totaling over €1.9 billion in 2021, a 144% increase over the prior year.

Venture investors have also made significant investments in European startups that are developing HR technology. The largest investors in HR technology firms in Europe are the United Kingdom (5 million, or 36%), Germany (4 million, or 26.33%), Spain (5 million, or 25.35%), and France (8 million, or 11.22%). Up to €55.3 million, or 3.69%, of investments are made in the same industry by other European nations.

As the globe quickly transitions from on-site work to remote and work-from-home (WFH) arrangements, the HR tech business has received great attention in areas including the evolution of recruitment tools, realigning organisational procedures and advances, and streamlining employee-management practises.

European Top HR Startups Ranking

As new forms of employment and working emerged in recent years, presenting a new environment to both employers and employees, HR IT startups grew quickly. We've compiled a list of the top 10 HR tech startups in Europe for 2021 to provide you more context for the dynamic human resources market.

Payfit

Payfit, a payroll and HR management software company founded in Paris and dubbed as Europe's first unicorn startup, helps small and medium-sized businesses (SMEs) automate and streamline their business processes.

The tech startup, which was established in 2015 by Firmin Zocchetto, Florian Fournier, and Ghislain de Fontenay, uses artificial intelligence (AI) and machine learning techniques to automate HR and payroll processes, including payslips, social statements, absences and expenses, vacations, and real-time information (RTI) submissions.

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With a recent funding round headed by General Atlantic and including previous backers Eurazeo, Bpifrance, and Accel, the company raised approximately €254 million, valuing it at €1.82 billion.

Personio

A cloud-based HR management and recruitment solutions provider, Personio is a Munich-based HR software business that enables SMEs and startups to fully automate their whole HR lifecycle. The software provides applicant sourcing, onboarding and offboarding, and performance tracking in addition to automating HR lifecycles.

Arseniy Vershinin, Hanno Renner, Ignaz Forstmeier, and Roman Schumacher launched the company in 2015. Personio currently provides services to around 2,000 clients across more than 40 nations.

Storage Platform

This HR tech startup with offices in London provides case management and misconduct reporting solutions for HR and employee management services.

Vault Platform developed a platform that enables staff members to store and time-stamp potential evidence during workplace issues, such as inappropriate texts, emails, or messages, with the goal of streamlining reporting and case management procedures. Their devices themselves utilise the platform for secure and private reporting.

The firm was established in 2017 as the #MeToo movement began to take off with the goal of empowering workers to stop harassment and misbehaviour at work.

Iziwork

Iziwork is an HR tech firm that provides a digital substitute for temporary employment agencies by providing a secondary marketplace for finding freelance, contractual, and temporary jobs.

The French firm, which was founded in 2018, developed a platform that makes the most of AI algorithms and an e-commerce recommendation system to link companies with candidates who most closely fit their requirements or job descriptions. Their statistics show that Iziwork fills more than 95% of openings in under 4 hours.