Dive Brief:
- The rise of "people analytics" and the desire for timely information on employee happiness is reflected in a recent venture funding round in which Glint, one such "people analytics" company, earned $27 million in backing in one round, Fortune reported.
- Companies like Glint are focused on tech that provide surveys of employees and "provide a pulse" of what employees are thinking. Some software allow employers to obtain employee reaction to certain workplace developments, such as a new manager or project, Fortune added.
- Other companies that have garnered investment as of late include Culture Amp and VoloMetrix, which was acquired by Microsoft. Fortune notes that Microsoft has been expressing particular interest in these culture-based tech startups.
Dive Insight:
This story represents another strong round of funding for HR tech, which has generally garnered more attention this year, according to analysis from Workforce. HR technology firms had received about $600 million in venture capital across 106 deals in the first quarter of 2016 alone.
As companies move away from annual performance reviews, concerns over what will replace them continue to grow. Increased investor interest in companies like Glint may be reflective of what many managers are seeing as the solution — real-time tracking of employee happiness and productivity that can result in important conversations on a regular basis.
