The work day of the future will look very different from today, but the biggest funding deals of 2022 provides some guidance into how it may be changing.
Research firm GlobalData has identified the future of work as one of the trends that are keeping CEOs up at night.
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“These changes will have significant social, political, and economic implications,” the firm has noted.
“Covid-19 has accelerated some of these changes, so it is vital that we demonstrate our coverage of this vitally important theme.”
By looking closer at the top 10 biggest deals in the GlobalData Intelligence Center under the “future of work” theme, we hope to gauge the key trends changing employment.
TIRA ROBOTS Robotics secures $434m in pre-series funding
TIRA ROBOTS was founded in 2019. It is a manufacturer of industrial robotic arms in Tunisia, Africa, and the Middle East and North Africa region. TIRA ROBOTS provides both fast and high-quality robots from its headquarters in Tunis, Tunisia.
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By GlobalDataAccording to Verdict, Kiwoom invested $434.01m with TIRA ROBOTS ROBOTS in August, 2022.
Megarobo Technology raises $300m in Series C funding
Beijing Megarobo Technology is a China-based developer of robotic and automation solutions for the medical industry. It was founded in 2016. The Beijing-headquartered venture focuses on robot and artificial intelligence (AI) for life sciences research. It secured a $300m funding round in June 2022.
Goldman Sachs Asset Management, Asia Investment Capital, and GGV Capital led the round. Other investors included Sinovation Ventures, Pavilion Capital, Starr Capital, U-Member Capital, RedView Capital, Harvest Capital and Taihe Capital.
Although Megarobo did not disclose its post-money valuation, according to financial publication Nikkei Asia, MegaRobo has a valuation of more than $1bn as the CEO and founder, Daniel Huang, told Bloomberg.
O9 Solutions bags $295m in venture funding
O9 Solutions is a management software company. It that drives digital transformations of integrated planning and operations.
The company received $295m in funding from General Atlantic’s BeyondNetZero, Generation Investment Management and KKR in 2022.
O9 Solutions markets itself as an organisations enabling other businesses to achieve new levels of productivity, speed and expertise in decision making.
It does so by using AI technology to provide users with superior visibility, predictive and prescriptive insight, and cross-functional collaboration. O9 Solutions has a valuation of $2.7bn.
AlphaSense nets $225m in Series D funding
AlphaSense is a search engine that employs AI to extract market insights. It raised a $225m Series D funding round in 2022. Goldman Sachs Asset Management’s Growth Equity business and Viking Global led the raise.
The market intelligence business has an impact on the future of employment since it can identify gaps or niches for a new product launch or service, as well as trends that may jeopardise their success in the future.AlphaSense was valued at $1.7bn after the deal.
CoachHub secures $200m in venture funding
CoachHub is a German leading global talent development platform, that enables businesses to create a personalised, measurable and scalable coaching program for their entire workforce, regardless of department or seniority level. It secured a $200m Series C round in June 2022.
Organisations can reap a variety of benefits from this platform, including increased employee engagement, higher levels of productivity, and improved job performance. Sofina and Softbank Vision Fund led the Series C round.
CoachHub said it would use the funds to further scale operations, employ more staff and boost its product innovation.
Snyk secures $196.5m in Series G funding
Cybersecurity startup Snyk secured a $196.5m Series G deal in December 2022, marking one of the biggest investments in the future of work segment last year. It achieved a $7.4bn valuation on the back of the raise.
The Qatar Investment Authority led the round. Other investors backing the raise included new investors Evolution Equity Partners, G Squared, Irving Investors, boldstart ventures, Sands Capital and Tiger Global.
Snyk was founded in 2015 in London and Tel Aviv, with headquarters in Boston. Cybersecurity is crucial because it safeguards all types of data against theft and loss, which is why Snyk enables businesses to grow rapidly while remaining secure.
Inceptio Technology nets $188m in Series B+ venture funding
Autonomous truck company Inceptio Technology secured a $188m Series B+ venture funding round in February 2022.
Sequoia Capital China and Legend Capital backed the raise. It is based in China and operates a nationwide autonomous transportation-as-a-service freight network.
LeadSquared secures $153m in Series C funding
LeadSquared netted $153m in a Series C round last year. The Bangalore-based startup secured the funding in a round led by WestBridge Capital with participation from Gaja Capital. It secured a $1bn valuation on the back of the raise, TechCrunch reported.
LeadSquared said it would use the capital to expand its presence in North America, the Asia-Pacific, Europe, the Middle East and Africa. It also said it would boost the development of new products.
The company has developed a lead conversion platforms providing sales with opportunities to better manage customers and marketing efforts as well as gaining valuable insights.
LeadSquared works with companies in the travel, hospitality, education, healthcare, real estate and finance industries.
SparkCognition nets $123m in Series D funding
SparkCognition is a cybersecurity startup. It provides cognitive computing analytics to the information technology, operational technology and internet of things industries.
The business secured a $123m Series D funding deal in 2022, marking one of the biggest future of work deals from last year.
The deal was backed by March Capital Partner, Doha Venture Capital, B. Riley Venture Capital, AEI HorizonX, Temasek Holdings, Alan Howard and Peter Loscher. The company was valued at more than $1.4bn, bringing the total capital raised by it to $300m.
SparkCognition will use the capital to grow its business, accelerate sales and marketing initiatives, and boost research and development.
Factorial secures $120m in Series C funding
Factorial became a unicorn after closing a $120m Series C investment round in October. It achieved a $1bn valuation following the raise.
Atomico led the round. Other investors included GIC, Tiger Global, CRV, K-Fund and Creandum.
Factorial is a software development firm that provides businesses with support for human resources management. Its platform allows users to manage scheduling, payroll, documents, and personal information.
GlobalData is the parent company of Verdict and its sister publication.
