The pandemic and the rise of Generation Z in the job market brought a new reality to companies' HRs: a need to digitalize operations, with employees increasingly demanding in relation to the culture of opportunities for Brazilian HRTechs, which met the demand with new technologies for the sector.
According to data from Crunchbase, the most relevant niche in terms of company volume was Recruitment and Selection. Since 2018, 40% of HRTechs that have done a venture round have had as their thesis the digitalization of the employee hiring process – with emphasis on Gupy e Kenoby is now Gupy (aquired by Gupy, em 2022).
Still, few names have consolidated themselves in recent years and managed to pursue a fundraising journey. Only 8 Brazilian HRTechs made a Series A, 5 Series B and 1 Series C round – the latter an investment of US$ 100 million in Flash, in 2022, by Endeavor Brasil, Global Founders Capital, Tiger Global Management and others, being the first of its kind for HRTechs in Brazil.
This is reflected in the large volume of pre-seed and seed rounds compared to the few early and middle-stage names, as we see in this chart. This demonstrates that the sector's consolidation is still ongoing and its solutions are still being tested. Capitalized companies are able to add new synergies in this maturation process, as is the case with the acquisition of Feedz by TOTVS by TOTVS, or by Xerpay (Acquired by Betterfly) by the Chilean Betterfly.
Therefore, HRTechs still have a lot of space within the market. An example are 'fintech' solutions for employees which, despite being a thesis of the portfolio of large funds such as QED Investors e VEF, are little explored by national companies. The question is who will be able to take advantage of this space – the advantage goes to whoever comes out ahead.
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