HR TECH Market 2025: The 25 acquisitions that are consolidating and putting AI at the heart of a restructuring
- Jean-Baptiste Audrerie
- 17 hours ago
- 19 min read
Discover the 25 HR TECH acquisitions that are redefining the HR technology market in 2025 , transforming HCM platforms, AI, talent management and employee experience.
1. HR TECH 2025 acquisitions that are shaping the HRIS landscape
The HR technology market in 2025 is marked by a significant wave of mergers and acquisitions, driven by rapid advances in artificial intelligence and the growing demand for unified and intelligent talent management platforms.
These transformations mark the transition from traditional HR systems to smarter, more connected and continuously adaptive workforce management platforms.
2. The 5 trends that explain HR TECH acquisitions
The forces at work are:
accelerated consolidation, with fewer transactions, but on a larger scale,
the rapid adoption of AI and agent-based automation.
the merging of learning, talent management and workforce intelligence into unified platforms.
2.1 Trend 1: Accelerating market consolidation
Major HCM providers and regional HR Tech leaders are acquiring specialized solutions to expand their capabilities and protect their market share. This consolidation is redefining the competitive landscape and fostering the emergence of larger, integrated platforms, reducing fragmentation and accelerating innovation cycles.
2.2 Trend 2: Rise of AI and agentic automation
Generative AI, conversational interfaces, and agentic workflows are now being integrated into recruitment, onboarding, learning, mobility, and HR services. Platforms are evolving from process automation to autonomous orchestration aimed at speed, accuracy, and an improved employee experience.
2.3 Trend 3: Convergence of talent, learning, and workforce intelligence
Skills-oriented organizations promote the unification of talent management, learning ecosystems, and workforce planning. Providers bring together analytics, skills intelligence, and personalized development in a single architecture that supports internal mobility and future planning.
2.4 Trend 4: Emergence of skills, data, and employee experience as key differentiators
Skills taxonomies, real-time labor market data, salary intelligence, and experience platforms are becoming essential building blocks of HR strategies. Solutions that unite data, context, and experience are emerging as organizations prioritize agility, retention, and adaptability.
2.5 Trend 5: Global expansion of service integrators
HR transformation programs require multi-country capabilities. Integrators are expanding through acquisitions to offer end-to-end services across SAP, Workday, Oracle, payroll, and other specialized platforms. This expansion supports large organizations seeking global consistency and accelerated modernization.
3. Our HR TECH Landscape 2025 report
This report offers a comprehensive overview of the major mergers, acquisitions and fundraising in HR technologies in 2025, categorized by market segment and month.
Each transaction is presented with its strategic rationale, its business impact and a textual reference to the official press release.
The analysis is based on a full year of strategic monitoring conducted by NexaRH, under the direction of Jean-Baptiste Audrerie and Valérie Fichelle.
Our observations are based on continuous monitoring of the global HR Tech ecosystem and our direct participation in the industry's most influential events, including:
HR Technologies Paris (January 2025),
The TECH HR Innovation Summit in Montreal,
Unleash World Paris,
The annual virtual events of leading HR Tech providers.
As an independent HR Tech market analyst, NexaRH maintains rigorous neutrality. Our mission is to provide HR leaders, CIOs, and transformation teams with clear, factual, and unbiased perspectives on market developments, the rise of AI and agentic automation, and the consolidation moves reshaping the industry.
This annual review synthesizes hundreds of data points in a structured, accessible, and decision-oriented format to support organizations in their technology choices, platform evaluations, and long-term transformation strategies.
4. Global Giants in HR Technologies
January 2025
1- Paychex acquires Paycor
• Date: January 7, 2025
• Transaction value: $4.1 billion
• Country: United States (Paychex, Paycor)
Paychex's acquisition of Paycor aims to create one of the most comprehensive suites of human capital management (HCM) solutions on the market. This transaction strengthens Paychex's position in the premium segment, expands its market reach, and adds growth platforms through Paycor's strategic partnerships. The acquisition is driven by a shared focus on technology, consulting solutions, and a commitment to leveraging data and AI for actionable insights.
The combined offering will provide buyers and users of HR solutions with access to a broader and more advanced suite of HR technologies and consulting services. This includes enhanced AI-powered capabilities, increased operational scale, and a commitment to service excellence, better equipping organizations to address their HR challenges.
March 2025
2- ServiceNow acquires Moveworks
• Date: March 10, 2025
• Transaction value: $2.85 billion
• Country: United States (ServiceNow, Moveworks)
ServiceNow has acquired Moveworks to extend its agentic AI capabilities to every employee across the enterprise. This acquisition will integrate Moveworks' AI-powered business process automation and employee support into the ServiceNow platform, enhancing its ability to automate workflows and provide intelligent support.
The acquisition will enable ServiceNow to offer a more comprehensive and intelligent employee experience, with a focus on task automation and proactive support. This will help organizations improve employee productivity and satisfaction.
June 2025
3- UKG acquires Shiftboard
• Date: June 2, 2025
• Transaction value: Not disclosed
• Countries: United States, Canada
UKG has acquired Shiftboard, a provider of workforce planning solutions for critical operations. This acquisition combines UKG's leadership in workforce management with Shiftboard's specialized scheduling engine for regulated industries such as energy and manufacturing. The goal is to help customers in these sectors manage complex scheduling challenges, including union compliance and 24/7 business continuity.
Integrating the Shiftboard platform with the UKG Pro Workforce Management™ suite will provide customers in regulated industries with an AI-driven experience that maximizes productivity and efficiency. The Shiftboard platform is designed to manage fatigue, ensure union compliance, and support flexible workforce scheduling, thereby boosting productivity and satisfaction for frontline employees.
August 2025
4- SAP acquires SmartRecruiters
• Date: August 1, 2025
• Transaction value: Not disclosed
• Countries: Germany (SAP), United States (SmartRecruiters)
SAP's acquisition of SmartRecruiters is a strategic move to enhance its SAP SuccessFactors human capital management (HCM) suite. Integrating SmartRecruiters' talent acquisition portfolio, known for its AI-driven candidate experience and high-volume recruiting capabilities, will provide customers with a more comprehensive and efficient hiring process. This acquisition aims to reduce the total cost of ownership for customers while providing them with advanced tools to attract and retain top talent.
The business impact for buyers and users of HR solutions is significant. The integration will offer a more robust, AI-enhanced recruitment and hiring solution within the SAP ecosystem. This translates into more efficient applicant tracking, improved candidate selection, and data-driven analytics, all within a single, unified platform. The ultimate goal is to streamline the hiring process, reduce time to hire, and deliver a superior candidate experience.
5- Dayforce becomes a private company with Thomas Bravo
• Date: August 21, 2025
• Transaction value: $12.3 billion
• Countries: United States (Thoma Bravo), Canada/United States (Dayforce)
In a major move, Dayforce has entered into a definitive agreement to be acquired by Thoma Bravo, a leading software investment firm, taking the company private. The strategic rationale for this transaction is to accelerate Dayforce's growth and solidify its position as a next-generation AI software company. Thoma Bravo's expertise in the software industry is expected to help Dayforce innovate more rapidly and expand its market potential, with a strong focus on its recurring revenue model and AI-powered capabilities.
This transaction is expected to significantly benefit Dayforce customers by driving innovation, particularly in AI-powered human capital management (HCM). For HR solution buyers, the partnership with Thoma Bravo signals increased investment in product development, leading to a more robust and feature-rich platform. The focus on "AI leadership in HCM" suggests future enhancements for users, leveraging AI for improved workforce, payroll, time, talent, and analytics management.
6- Workday acquires Paradox
• Date: August 21, 2025
• Transaction value: Not disclosed
• Country: United States (Workday, Paradox)
Workday's acquisition of Paradox, an AI-powered conversational recruiting platform, positions Workday as a leader in high-volume, front-line recruiting. By integrating Paradox's conversational AI, Workday aims to create a comprehensive AI-driven talent acquisition suite that simplifies the application process, accelerates candidate conversion, and reduces time to hire. This move underscores Workday's commitment to leveraging AI to address the needs of a significant portion of the global workforce.
The acquisition will provide Workday customers with a unified, end-to-end talent acquisition solution. This will enable organizations to more effectively find, hire, and onboard all types of workers, from front-line to leadership roles. The integration of Paradox's conversational AI into Workday Recruiting will streamline hiring and onboarding processes, helping organizations attract and retain talent more effectively, especially in high-volume recruiting environments.
September 2025
7- Workday acquires Sana
• Date: September 16, 2025
• Transaction value: $1.1 billion
• Countries: United States (Workday), Sweden (Sana)
Workday's acquisition of Sana, an AI-native learning platform, is a key step in Workday's strategy to redefine the future of work. By combining Sana's AI-powered search, intelligent agents, and learning capabilities with Workday's platform, Workday aims to create a proactive, personalized, and intelligent employee experience. This acquisition will significantly enhance Workday's AI capabilities, particularly in the areas of learning and intelligent automation.
The integration of Sana will transform Workday into a central hub for work, enabling employees to instantly find information, automate tasks, and access personalized learning content. This will allow employees to be more productive and engaged, while providing HR teams with powerful tools to manage and develop their workforce.
October 2025
8- SAGE acquires Criterion
• Date: October 6, 2025
• Transaction value: Not disclosed
• Countries: United Kingdom (SAGE), United States (Criterion)
Sage's acquisition of Criterion, a cloud-based payroll and human capital management solution, aims to simplify payroll and HR for mid-sized businesses. This acquisition aligns with Sage's vision of integrating AI into its software to deliver proactive and reliable HR solutions. By integrating Criterion's unified platform, Sage will be better equipped to support mid-sized businesses in scaling their operations with an AI-powered HR system.
The acquisition will provide mid-sized organizations with a unified solution for core HR, payroll, and talent engagement, eliminating data silos and streamlining workflows. It will expand Sage's AI-powered product ecosystem, offering new capabilities for finance and HR teams to automate, simplify, and scale their operations. The integration will also lay the foundation for modern, cloud-native HR and payroll solutions that can scale both nationally and internationally.
9- Dayforce acquires AgentNoon
• Date: October 7, 2025
• Transaction value: Not disclosed
• Countries: United States, Canada
Dayforce has acquired AgentNoon to accelerate the launch of its strategic workforce planning solution. This acquisition aims to transform the traditionally complex and siloed process of enterprise workforce planning into an intuitive, collaborative, and efficient one. AgentNoon's open platform will be re-architected within Dayforce's unique experience and data model, streamlining the integration.
The acquisition integrates AgentNoon's workforce planning solution with Dayforce's AI-powered people management platform. This allows buyers and users of HR solutions to move away from cumbersome planning processes and use a single, unified data model for strategic workforce planning. This will enable better modeling and forecasting of skills, costs, and workforce changes, leading to more informed decision-making.
5. HR TECH Regional Champions
2.1 Canada: HR TECH Regional Champions
January 2025
10- EmploymentHero acquires Humi 🍁
• Date: January 8, 2025
• Transaction value: 100M+ CAD
• Country: Australia (EmploymentHero), Canada (Humi)
In a significant move to penetrate the North American market, Australian HR technology leader Employment Hero has acquired Humi, a leading Canadian employment platform. This acquisition will combine Employment Hero's global innovation with Humi's deep understanding of the Canadian market, creating a localized, all-in-one platform for payroll, HR, and benefits for Canadian SMEs.
The transaction will provide thousands of existing Humi customers with access to a more comprehensive suite of tools, and the combined entity aims to double its customer base in the short term. This partnership will stimulate product innovation and enable Canadian SMEs to better manage their people and processes.
July 2025
11- Workleap acquires Barley 🍁
• Date: July 7, 2025
• Transaction value: Not disclosed
• Country: Canada (Workleap, Barley)
Workleap's acquisition of Barley, a compensation management platform, is a strategic step toward unifying performance and compensation management. By integrating Barley's solution with Workleap's AI-powered talent management platform, the company aims to "close the loop between people's performance and how they are rewarded." This move is intended to advance Workleap's growth strategy and market share.
The acquisition will provide a unified platform for performance and compensation management, replacing manual processes and spreadsheets. This will enable HR teams and managers to improve transparency and consistency in how they recognize and reward employees. Functional impact includes flexible review cycles, AI-powered summaries, 360-degree feedback, and data-driven compensation planning, resulting in improved efficiency and employee retention.
2.2 United States: HR TECH Regional Champions
February 2025
12- HiBob Acquires Mosaic.tech
• Date: February 13, 2025
• Transaction value: ~$35 million (rumor)
• Countries: United States/Israel (HiBob), United States ( Mosaic.tech )
HiBob has acquired Mosaic.tech to bridge the gap between HR and finance strategies. This acquisition integrates Mosaic's financial planning and analytics (FP&A) capabilities with HiBob's people management platform, providing real-time insights into workforce productivity and creating a unified HR and finance solution.
Integration will help mid-sized businesses make smarter, more connected decisions by aligning their workforce strategy with financial results. This will provide a more holistic view of the business and enable more efficient resource planning and allocation.
May 2025
13- Revelio Labs acquires Salary Board
• Date: May 1, 2025
• Transaction value: Not disclosed
• Countries: United States (Revelio Labs), Singapore (Salary Board)
Revelio Labs has acquired Salary Board to expand its compensation analytics capabilities globally. This acquisition integrates Salary Board's rich global compensation data with Revelio Labs' extensive workforce datasets, providing employers and HR professionals with unparalleled insights into labor market trends.
The acquisition will improve the accuracy of Revelio Labs' analytics and lead to advanced tools for predictive workforce planning, job architecture, and pay equity analysis. Salary Board's strong presence in Europe and Asia will also accelerate Revelio Labs' global expansion.
14- Engagedly acquires hiringtool.co
• Date: May 6, 2025
• Transaction value: Not disclosed
• Country: United States (Engagedly, hiringtool.co )
Engagedly has made a strategic acquisition to enhance its AI-powered talent management platform. The acquisition of hiringtool.co , an applicant tracking system (ATS) based on generative AI, expands Engagedly's offering to include a modern, AI-driven talent acquisition component.
This acquisition creates a comprehensive, end-to-end talent experience, from hiring and onboarding to performance, development, and retention. It provides a streamlined HR technology stack for buyers and a seamless, AI-driven experience for users.
June 2025
15- JobGet acquires CareerBuilder and Monster
• Date: June 24, 2025
• Transaction value: Not disclosed
• Country: United States (JobGet, CareerBuilder, Monster)
In a significant market shift, JobGet, an on-demand and hourly work platform, acquired the assets of job sites CareerBuilder and Monster following their Chapter 11 bankruptcy filings. The strategic rationale for the sale was to maximize value and preserve jobs. For JobGet, this acquisition expands its talent marketplace, connecting employers with a broader pool of candidates, particularly in the high-volume, hourly, and on-demand work sectors.
The acquisition signifies a major consolidation in the HR technology landscape. For buyers and users of HR solutions, this means that legacy job sites will likely focus on hourly and on-demand work, with a more streamlined, application-centric experience. It may also indicate a diminished role for these brands in the professional and office recruiting space.
September 2025
16- Radancy acquires myInterview
• Date: September 9, 2025
• Transaction value: Not disclosed
• Countries: United States (Radancy), Israel/Australia (myInterview)
Radancy has acquired myInterview to expand its agentic AI platform with powerful AI agents for candidates and recruiters. This acquisition integrates myInterview's AI-powered video interviewing, screening, and scheduling capabilities into Radancy's Talent Acquisition Cloud. The strategic goal is to accelerate hiring cycles, improve recruiter efficiency, and reduce costs by delivering a powerful end-to-end AI hiring experience.
The acquisition will offer buyers and users of HR solutions a more unified and efficient hiring experience. The integration is expected to reduce manual tasks by over 90% and hiring time by over 70%, resulting in faster collaboration and a seamless experience for both candidates and recruiting teams. The platform is designed to augment recruiters directly within existing systems such as Applicant Tracking Systems (ATS) and Microsoft Teams.
17- iCIMS acquires Apli
• Date: September 11, 2025
• Transaction value: Not disclosed
• Countries: United States (iCIMS), Latin America (Apli)
iCIMS has acquired Apli to accelerate its AI roadmap and strengthen its leadership in the AI market. This acquisition complements iCIMS' enterprise AI platform with Apli's AI-powered recruiting automation, which focuses on high-volume, front-line hiring experiences. This enables iCIMS to offer enhanced end-to-end capabilities for all types of hires.
The acquisition resulted in the creation of "iCIMS Frontline AI," which integrates Apli's conversational AI and assessment tools into the iCIMS platform. This is designed to improve the speed, efficiency, and quality of hiring for critical frontline roles in sectors such as healthcare, hospitality, and manufacturing. The functional impact includes automating up to 90% of the frontline hiring process and significantly reducing time to fill.
18- Engagedly acquires Butterfly.ai
• Date: September 2, 2025
• Transaction value: Not disclosed
• Country: United States (Engagedly, Butterfly.ai )
Engagedly has made a strategic acquisition to enhance its AI-powered talent management platform. The acquisition of Butterfly.ai , a front-line engagement and analytics platform, strengthens Engagedly's front-line capabilities.
This acquisition creates a comprehensive, end-to-end talent experience, from hiring and onboarding to performance, development, and retention. It provides a streamlined HR technology stack for buyers and a seamless, AI-driven experience for users, with a strong focus on engaging and retaining frontline teams.
2.6 Europe: HR TECH Regional Champions
January 2025
19- Assessio Acquires Elevo (FR) and Wisnio (Poland)
Date: January 2025
Transaction value: undisclosed
Countries: Sweden (Assessio), France (Elevo), Poland (Wisnio)
The simultaneous acquisition of Elevo (France) and Wisnio (Poland) by Assessio, a Swedish company specializing in psychometrics and talent science, marks a key step in the consolidation of the European talent management market.
With Elevo, Assessio integrates a performance and employee development management platform focused on continuous feedback, objectives, and progress reviews.
Wisnio, for its part, strengthens the analytical component with its predictive assessment, skills mapping , and AI-enhanced team analysis capabilities.
This dual acquisition addresses the growing importance of skills intelligence and behavioral data in HR transformation. It enables Assessio to build a European Talent Cloud combining scientific assessment, performance, development, and predictive insights for internal mobility. Together, these solutions offer organizations a unified approach to potential management, supported by advanced psychometric models and features increasingly enhanced by generative AI.
March 2025
20- Wellhub acquires Urban Sports Club
• Date: March 25, 2025
• Transaction value: Not disclosed
• Countries: Brazil (Wellhub), Germany (Urban Sports Club)
Wellhub (formerly Gympass) has acquired Urban Sports Club to meet the growing demand for holistic corporate wellness solutions in Europe. This acquisition combines Wellhub's global technology platform with Urban Sports Club's strong European presence, accelerating growth and capitalizing on trends such as increased mental health awareness and hybrid work models.
The acquisition creates a combined entity with an expanded network of corporate clients and wellness partners. For HR solution buyers, this means a more comprehensive and geographically broad corporate wellness solution, particularly in Europe. Users will benefit from access to a larger network of fitness , mindfulness, therapy, and nutrition partners across 18 countries.
21- Zest merges with Supermood
• Date: March 18, 2025
• Transaction value: Not disclosed
• Country: France (Zest, Supermood)
Zest and Supermood, two French pioneers in employee feedback, have merged to create a new European leader in employee engagement and performance solutions. The merger, backed by investors including Educapital, combines Supermood's expertise with large accounts and Zest's "Management Tech Suite."
The combined entity will offer a comprehensive solution covering the entire employee journey, from listening to performance management. With over 400 clients and nearly 3 million employees surveyed, the new company is well-positioned for accelerated growth and international expansion, with plans for further strategic acquisitions in Europe.
July 2025
22- LumApps acquires Beekeeper
• Date: July 2, 2025
• Transaction value: Over one billion dollars (combined company valuation)
• Countries: France/United States (LumApps), Switzerland (Beekeeper)
LumApps has acquired Beekeeper to create a leading employee experience platform. This acquisition combines LumApps' AI-powered intranet solutions for office teams with Beekeeper's mobile platform for frontline workers. This move allows the combined entity to serve the entire workforce, accelerate innovation, and consolidate its market position.
The combined company will offer the first AI-powered employee hub, an all-in-one productivity and communication platform for frontline and office workers. This will deliver a unified employee experience, boosting engagement, productivity, and security across all teams and redefining the category beyond traditional intranet solutions.
September 2025
23- Sopra Steria acquires Neocase
• Date: September 24, 2025
• Transaction value: Not disclosed
• Country: France (Sopra Steria, Neocase)
Sopra Steria's acquisition of Neocase, a provider of HR service delivery and case management solutions, strengthens Sopra HR's position as a comprehensive provider of innovative HR solutions. The two companies had a pre-existing five-year partnership, and this acquisition will further integrate Neocase's specialized solutions into Sopra HR's 4YOU platform. The strategic objective is to enhance Sopra HR's business by offering a more complete and integrated suite of HR services.
The acquisition will enable Sopra HR to offer a comprehensive suite of end-to-end HR services for employees, with a focus on delivering an optimal employee experience. For buyers and users of HR solutions, this means a more complete and integrated solution that combines Sopra HR's existing offerings with Neocase's specialized tools for employee relationship management (ERM), business process automation (BPA), and employee document management.
24- HireSweet acquires The Staffing Company
• Date: September 2025
• Transaction value: Not disclosed
• Country: France (HireSweet, The Staffing Company)
HireSweet has acquired The Staffing Company to integrate its "Staffing App," a next-generation ATS-CRM for professional recruiters, into HireSweet's solution. This acquisition aims to expand HireSweet's offering in the recruitment sector and provide recruitment professionals with the best possible tools to simplify their daily work and improve their performance.
The acquisition strengthens HireSweet's position as the leading ATS + CRM provider in France for the recruitment sector. The Staffing Company's clients and team have joined HireSweet, and the integration of the recruitment application's specialized technology will provide buyers and users of HR solutions with a more comprehensive and integrated talent acquisition software solution.
October 2025
25- Learning Pool acquires Elucidat
• Date: October 23, 2025
• Transaction value: Not disclosed
• Country: United Kingdom (Learning Pool, Elucidat)
Learning Pool has acquired Elucidat, a cloud-based authoring platform, to strengthen its product ecosystem and advance its mission of simplifying learning at scale. This acquisition is part of Learning Pool's strategic growth plan and will enhance its ability to deliver smarter, faster, and more flexible learning solutions by integrating Elucidat's innovative, AI-powered authoring tools.
The acquisition will create an enhanced learning ecosystem for customers. For buyers and users of HR solutions, this means a more seamless and scalable learning journey, combining Learning Pool's strength in analytics and platform capabilities with Elucidat's expertise in creating scalable content. This will expand the ability to deliver comprehensive and flexible learning solutions.
2.7 Asia: HR TECH Regional Champions
February 2025
26- Phenom acquires EDGE
• Date: February 6, 2025
• Transaction value: Not disclosed
• Countries: United States (Phenom), India (EDGE)
Phenom has acquired EDGE to strengthen its AI-powered resource planning solutions for professional services, IT services, and global capacity centers. This acquisition will enhance Phenom's workforce intelligence and strategic workforce planning capabilities, providing customers with more advanced tools to manage their resources.
Integrating EDGE's resource management platform will provide Phenom customers with a more comprehensive workforce planning and intelligence solution. This will enable them to better align their resources with business needs and optimize their workforce for improved productivity and efficiency.
6. Service Integrator
August/September 2025
27- HR Path acquires RKM Consulting, PredictiveHR and Next Generation Inc.
• Date: August 14, 2025 (RKM). August 6, 2025 (PredictiveHR). September 2025 (Next Generation Inc)
• Transaction value: Not disclosed
• Countries: France (HR Path), Australia (RKM), United States (PredictiveHR), United States. – NGI (,)
HR Path is pursuing an ambitious global acquisition strategy to strengthen its capabilities as an HR technology services integrator. Over the past year, the company has made several key acquisitions, including:
PredictiveHR (United States, August 2025)
• RKM Consulting (Australia, August 2025)
These strategic moves illustrate HR Path's commitment to providing comprehensive support in HR transformation, covering consulting, implementation and managed services, in all regions where its clients operate.
As François Boulet, co-founder of HR Path, stated:
"This is a major step forward in our mission to become the global benchmark in HR transformation."
By integrating specialized firms across North America, Australia, and Europe, HR Path is consolidating its expertise in SAP SuccessFactors, Workday, UKG, and other HR solutions while expanding its international presence. The company is thus positioning itself as a global integrator capable of offering both functional depth and local support—two elements that have become essential for large organizations undergoing transformation.
7. Newcomers to the HR Technology Market or Investments
This section covers notable new entrants and significant investments in the field of HR technologies.
7.1. OpenAI (CHATGPT Jobs Platform)
Although not a merger and acquisition transaction, OpenAI announced in 2025 its intention to launch a job portal in 2026. This decision signals the entry of major AI players into the HR technology market, which will likely have a significant impact on the future of recruitment and talent acquisition.
7.2. Darwinbox (Teachers' Venture Growth)
This is a significant investment in the Asian HR technology market, rather than an acquisition. Teachers' Venture Growth, the venture capital arm of the Ontario Teachers' Pension Plan (Canada), has invested in Darwinbox, a global HR platform based in India. This investment will fuel Darwinbox's global expansion and product development, further solidifying its position as a leading HR management provider in the region.
7.3. DEEL (EOR)
Deel has raised a record-breaking amount of funding. Based in the United States, Deel is a global payroll and workforce management platform that enables companies to hire, pay, and maintain compliance in over 150 countries. In October 2025, Deel raised $300 million in a Series E funding round, bringing its valuation to $17.3 billion. "This round is about doubling down on the global payroll infrastructure we've built from the ground up," said Alex Bouaziz, co-founder and CEO of Deel. With this funding, Deel is solidifying its leadership position in the "Global Payroll + HRTech" segment, accelerating its investments in artificial intelligence and native payroll infrastructure, and aims to process payroll for tens of millions of employees worldwide.
7.4. Edflex
Edflex, a French company specializing in learning content libraries for organizations, continued its expansion in 2025 thanks to a new round of funding intended to accelerate its presence in Europe and North America.
The platform, renowned for its content curation model sourced from the world's best sources, addresses the growing demand from businesses for flexible, personalized, and self-service learning solutions. This financial expansion will enable Edflex to strengthen its technological capabilities, integrate more AI-powered features, and broaden its catalog to support large-scale skills development strategies.
8. A pivotal year for consolidation and AI
As 2025 progresses, the pace and scale of transactions confirm a profound transformation of the HR technology market.
Consolidation, the acceleration of AI, skills intelligence, and the expansion of service integrators are redefining how organizations design their HR architectures and prepare for the future of work.
In this context, choosing the right platforms and partners requires clarity, independence and a deep understanding of market dynamics.
To support this approach, NexaRH offers four HR TCH Maps (2025) covering the areas of HCM, Talent, Learning and Skills Intelligence, available for free download at the following address:
9. Warning:
Although this analysis is based on thorough and continuous monitoring throughout 2025, the HR technology market is evolving rapidly.
This article does not claim to be exhaustive and may not cover all transactions announced or completed during the year.
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