Inscape Software announces $7m in Series B funding (6)
Inscape Software, a SaaS HR provider, has secured yesterday Sept 3rd a $7 million funding. The deal was lead by Solidarity Fund QFL, a labor-sponsored investment fund.
Previous investors in the startup, namely Rho Canada Ventures, and Garage Technology ventures Canada also participated in the round.
Inscape Software was formerly known as HR Alloy, and provides a platform for corporations and HR consulting firms a web-based, on-demand tool that allows them to recruit and manage candidates, and also follow employee performance and career. They supposedly use “science-based algorithms” to help managers come up with best decisions for their employees.
It’s noteworthy to mention that another Montreal startup, Standoutjobs, funded by iNovia Capital, also provides a HR tool for recruitement. This validates in a way the market opportunity for human resources software, but one cannot help to think that there should be battle (and blood) in upcoming months between the 2 startups, or perhaps a strategic partnership. Maybe a few HR specialists can comment on this post and shed some comparison between the 2 offerings.
I think these two companies are VERY different from one another. Inscape, despite its hosted delivery model, is targeting old school big enterprise. Standout has a different market and positioning.
from their website, inscape has an “entreprise” version. but they also sell a basic and an advanced version for small companies…
although yes standoutjobs has a strong position serving technology companies.
The moral is that there will always be a market for tools helping companies to be more efficient.
The Inscape application will probably have a much more complete set of tools for analysis, reporting, managing the process of recruitment, workflow etc that are really oriented towards understanding the PROCESS of recruitment within a company. Also the candidate end of the application is probably very customisable and easy to consolidate into the company’s website.
Standout probably has very little or none of this, but on the otherhand its focus is on bringing an understanding of he company to the candidate.
You could almost consider them to be two complimentary products.
In terms of the sector, it’s growing rapidly and there are a lot of opportunities there. My previous company in Europe was expanding rapidly there, in the US and Asia.
Richard,
Thanks for the informed reply. Was worried a bit. You’re right, as well as Mark
Richard, are you finally in Montreal by the way?
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