Venture capital investment in WorkTech reached an all-time high in 2018 surpassing $3.5 billion. We believe this trend is attributed to many factors including: 1) availability and accessibility of capital across new and existing VC firms, 2) the movement of equity investing into venture capital as an available asset class, 3) limited barriers to entry for new startups to compete in the market, 4) growth of technology skills around the world enabling new products to be built more easily anywhere in the world, and 5) strong demand for SaaS (software-as-a-service) solutions and the rapid movement towards cloud computing.
We are defining WorkTech as the combination of the traditional HRTech market with the Collaboration market. The data and information provided is based on our best estimates as of December 2018. We have used the combination of public and private data sources to compile our financing and deal data.
Jason Corsello is the Founder and CEO of The Acadian Company and the Managing Director of Acadian Advisory. Prior to Acadian, Corsello was the SVP, Strategy & Corporate Development at Cornerstone OnDemand [NASDAQ:CSOD]. Corsello led the company’s product innovation, go-to-market strategies and new corporate initiatives. This includes guiding M&A and Cornerstone’s corporate venture investments, as well as overseeing new product initiatives in the areas of platform, analytics and mobile. Prior to Cornerstone, Corsello was the SVP of Strategy & Corporate Development at Appirio, A Wipro Company (formerly Knowledge Infusion) and served as Research Director at The Yankee Group (now The 451 Group.)
* Access to this course requires a paid subscription to our entire library of content. Please visit our Pricing Page for more information.