Rec Tech: the Recruiting Technology Podcast Headlines from GoContractor, Parabol, Payscale, Stoke Talent
Recruiting Technology Headlines
GoContractor, a leader in the digitization of construction worker onboarding and compliance tracking, today announced a $5 million Series A round of funding led by Building Ventures and Ironspring in the U.S. with continued participation from existing investors.
The new funding will allow GoContractor to further scale across the US and European markets, grow its sales, support and marketing teams, and increase investment in its research and development organization located in Ireland.
GoContractor is the only worker and subcontractor onboarding and data management solution that exclusively focuses on training, managing, and connecting general contractors with their workers and subcontractors in the construction industry.
“We are very excited to work with Building Ventures and Ironspring, they both have an excellent track record and a very solid standing in the construction industry,” said John Naughton, CEO, GoContractor. “BV and Ironspring share our passion and enthusiasm for transforming construction, and understand the importance of connecting and qualifying workers through an online platform to safely access construction sites across the globe.”
https://hrtechfeed.com/onboarding-tool-gocontractor-announces-5-million-series-a/
Parabol, a leading Agile meeting platform, secured a Series A investment of $8 million led by M12, Microsoft’s venture fund, with continued participation from CRV, Haystack, Techstars, and others. The announcement comes on the heels of Parabol’s latest milestone of registering 100,000 users across more than 3,000 companies worldwide to help them make their meetings more efficient and effective. This includes members of the United States Airforce, which awarded Parabol a $1.47 million contract via the Defense Department’s small business innovation research program, to bring Parabol’s Agile meeting platform to the U.S. military.
“We’re excited about Parabol’s dual use as an enterprise solution with extensibility into the government and defense sectors,” said Priyanka Mitra, Principal at M12. “The macro trend of distributed teams and remote work are here to stay, beyond the COVID pandemic era. Parabol puts in-person and remote participants on an equal footing, whether teams are brainstorming plans for a product launch or helping to keep the country operating.”
Parabol was founded in August 2015 to help remote and hybrid teams conduct structured meetings essential to Agile teamwork, such as retrospectives and daily stand-ups. By effectively collecting input from all meeting participants regardless of their physical location, Parabol provides an experience that is superior to physical meeting rooms and collaboration with whiteboards. Parabol seamlessly integrates with widely-used applications such as Slack, Jira, and GitHub, and automatically captures and summarizes the meeting output for all participants. Parabol will use its Series A funding to meet customer demand for additional Agile meeting types and add new enterprise features, expanding Parabol’s ability to serve even more kinds of teams.
https://hrtechfeed.com/remote-collaboration-platform-parabol-raises-8m-in-series-a-funding/
Payroll Merger in the news…
PayScale, the industry leader in compensation data and technology, and Payfactors, a leading compensation data management company with deep industry expertise, announced that they have merged. Together, the combined company will become one of the largest providers of its kind in North America to help job seekers, employees and businesses get pay right.
“Compensation and pay equity strategies are shifting even further on to the C-Suite agenda given the accelerated shift to remote and hybrid work and the overwhelming importance of the social justice movement,” said Scott Torrey, CEO, PayScale. “Together, the PayScale leadership team’s experience running SaaS businesses at scale combined with Payfactors’ deep compensation expertise creates the optimal set of capabilities to offer faster paced innovation to get pay right today and in the future for even the largest of organizations.”
Both companies have built deep relationships with organizations and individuals by helping people navigate the increasingly complex compensation landscape. The addition of Payfactors will make it possible to offer customers the most comprehensive set of integrated data, software, services and support available to get compensation right under any market condition.
PayScale CEO Scott Torrey will become CEO of the combined company with Payfactors CEO Jeff Laliberte taking on the role of Chief Strategy Officer and joining the PayScale board.
https://hrtechfeed.com/payscale-and-payfactors-merge/
Stoke Talent, a leading freelance management system, announces today the release of its Worker Classification Engine. This artificial intelligence algorithmic screening solution is able to offer early detection of high-risk independent contractor (IC) and/or freelancer relationships, which may lead to costly misclassification penalties and possible lawsuits if left undetected.
This is the first product of its kind built to provide companies with a continuous, automated solution that monitors and tracks each individual relationship for full compliance with all workforce classification laws.
The booming freelance economy has commanded the attention of the legal system. The federal government, state governments, and government agencies have begun to develop legislation that would ensure companies are unable to falsely classify their employees as contractors and, by doing so, prevent them from associated social benefits and tax contributions. Threats of penalties from the U.S. The Department of Labor (DOL), Internal Revenue Service (IRS), and other agencies – not to mention class-action lawsuits and failed audits – have also added a sense of urgency to the issue.
Moreover, each involved government agency applies its own logic to the determination of workforce classification, creating a lack of uniformity and costly room for error. Classification tests depend on very specific and individualized details that hiring managers may not be aware play a role and legal teams have no visibility into. Before Stoke Talent, a business looking to be able to guarantee proper workforce classification was required to take on these extensive legal intricacies and consistent manual monitoring undertakings on its own.
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