Workstep announced $17.2 million in funding for its job board marketplace, hiring, and retention platforms. A combination of Seed and A round venture capital investment.
Workstep, founded in 2017, represents the culmination of several trends WorkTech has called attention to in the global HR technology market:
Modern Job Board Marketplaces: Workstep claims to not only focus on a niche (industrial and supply chain), but also reports to help workers gain and increase skills to enter this market. The merge of skills training and a job board marketplace is a trend we’ve watched emerge since 2018 with increasing success.
Find, match and hire: Report to offer matching, screening, and hiring workflow automation, Workstep extends the sourcing of candidates with a skills profile to the entire hiring process.
Retention: Post-hire mobile apps that cover onboarding, safety, and employee engagement. Providing some capabilities that help deliver a better employee experience and insurance for the ROI on the cost of hiring and time to get to productivity.
While VC investment in job boards was down in 2020 due to the pandemic, we expect to see more interesting models like this one emerge.
Keep your eye on Workstep and look out for more platforms connecting hiring into talent management and engagement.