How many total HR SaaS companies are there?

As of Jul 2026, there are 18,554 active companies in HR SaaS sector.

Which countries have the most HR SaaS companies?

United States (6,987) has the highest number of HR SaaS companies, followed by India (2,798) and United Kingdom (2,476).

How many HR SaaS companies are funded?

As of Jul 2026, 4,215 companies in this sector have received funding.

Which company has raised the most funding in HR SaaS sector?

As of Jul 2026, Rippling has secured $1.85B in funding, making it the highest-funded company in the HR SaaS sector.

Which country has attracted the most investment in HR SaaS companies?

With $44.7B in total funding, United States has attracted the most investment among HR SaaS companies.

Who are the top investors in HR SaaS companies?

The top investors in HR SaaS companies by number of investments are Y Combinator, Techstars and Europa

How much venture capital has HR SaaS sector attracted?

In the last 10 years, venture capital firms have invested $38.5B in this sector.

How many unicorns has HR SaaS sector produced?

Globally, there are 56 unicorns in HR SaaS sector, to date.

HR SaaS - 2026 Market & Investments Trends

There are 23.3K companies in the HR SaaS sector across the world, with 4.22K funded companies having collectively raised $79.1B in venture capital money and private equity. Overall 2.35K of these are Series A+ funded and the sector has seen the creation of 56 Unicorns.

HR SaaS sector has seen 1.26K acquisitions and 278 IPOs. This represents almost 6.6% of all such companies - which is higher than the 4.7% exit rate of tech companies in general.

This sector includes companies offering cloud-based solutions for HR professionals to manage their employees and day to day work.

Companies included in HR SaaS sector

Cloud-based HRMS, Payroll, Employee Engagement, Job Boards, Marketplaces, Performance Management Tools, other HR-related software

Companies excluded in HR SaaS sector

Non-Cloud-based HR Solutions, Generic Cloud Infra Solution, Services Companies

Key Metrics

Total Companies

23.3K

Top Companies

Workday, LinkedIn & more

Total Funding

Funded Companies

Series A+ Companies

Series C+ Companies

Unicorns Created

IPOs

278

Acquisitions

1.26K

View complete details of this sector

The market map of HR SaaS gives a visual overview of the sector, showing key business models, their interactions in the value chain, and industry evolution.

Recent BlueBox/Industry Definition image of HR SaaS

Here are some reports related to HR SaaS sector:

Free

HR SaaS - Sector Report

Edition: June, 2026 (87 Pages)

Premium

HR SaaS Investor Landscape

Edition: May, 2025 (12 Pages)

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There are more than 23.3K companies in HR SaaS. Workday is the top HR SaaS company globally, ranked using Tracxn Score (what's this?).

Here are 5 of the top HR SaaS companies globally:

Company	Description	Location	Founded	Current Stage	Private Funding Raised
Workday	Developer of cloud software for human resources finance and operations	Pleasanton (United States)	2005	Public	$352M
LinkedIn	Network of resources for professional networking, job searching, and skill development	Sunnyvale (United States)	2002	Acquired	$144M
Cornerstone	Provider of a platform for talent experience and workforce agility	Santa Monica (United States)	1999	Acquired	$64.4M
Gusto	Cloud-based payroll, benefits, and HR software for small and medium-sized businesses	San Francisco (United States)	2012	Series E	$718M
Hinge Health	Provider of virtual physical therapy and digital pain care solutions	San Francisco (United States)	2015	Public	$854M

Get a longer list of companies

Companies founded year-on-year in the HR SaaS sector

71 new startups have been founded so far in 2026 in the HR SaaS sector. 1,958 HR SaaS startups were founded in 2020 - this is the most number of startups founded in any year in the last 10 years.

Total Number of Companies

Year	No. of companies
2026	71
2025	414
2024	761
2023	1,084
2022	960
2021	1,391
2020	1,958
2019	1,590
2018	1,342
2017	1,229

Companies founded across countries in the HR SaaS sector

United States has 6,987 HR SaaS startups, the most by any country, followed by India which has 2,798 startups and United Kingdom which has 2,476.

Total Number of Companies

Country	No. of companies
United States	6,987
India	2,798
United Kingdom	2,476
Germany	965
Canada	872
Australia	792
France	542
Netherlands	481
Singapore	327
Spain	321

Stage-wise distribution of the HR SaaS sector

Out of the total 23,283 HR SaaS companies, 4,215 have secured funding. Among them, 2,350 have reached Series A or higher, and 1,882 to Series B or beyond.

Founded - 23,283

Funded - 4,215

Series A+ - 2,350

Series B+ - 1,882

Series C+ - 1,703

Company Stage	No. of companies
Founded	23,283
Funded	4,215
Series A+	2,350
Series B+	1,882
Series C+	1,703

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23.3K+ Total Companies
$79.1B+ Total Funding
4.2K+ Funded Companies
275+ IPOs
1.3K+ Acquisitions

Total funding year-on-year in the HR SaaS sector

The HR SaaS sector saw a total funding of more than $66.1B in the last 10 years. The most amount of funding was in 2021 at more than $18.9B. There has been a total funding of $1.14B in 2026 till date.

Total Funding

Year	Total Funding
2026	$1.14B
2025	$3.88B
2024	$2.7B
2023	$3.71B
2022	$8.76B
2021	$18.9B
2020	$5.16B
2019	$7.39B
2018	$11.6B
2017	$2.8B

Total funding across countries in the HR SaaS sector

In the last 10 years, HR SaaS startups in United States have recieved the highest funding among all countries - $44.7B. United Kingdom follows with $2.56B and Germany with $1.99B.

Total Funding

Country	Total Funding
United States	$44.7B
United Kingdom	$2.56B
Germany	$1.99B
India	$1.87B
Australia	$1.8B
China	$1.79B
France	$1.76B
Canada	$1.61B
Netherlands	$846M
Singapore	$194M

Total funding amount raised by stage in the HR SaaS sector

Over the last 10 years, the HR SaaS sector have seen $2.84B into Seed Stage funding rounds, $17.8B into Early Stage funding rounds and $25.3B go into Late Stage funding rounds.

Funding Stage	Total Funding
Late Stage	$25.3B
Early Stage	$17.8B
Debt	$15.4B
Seed Stage	$2.84B
Post IPO	$2.05B
PE	$1.04B
Grant	$99.5M
ICO	$6.58M
Other-Equity	$1.69M

Recent Funding Rounds in HR SaaS

In the year 2026, till June 2026, HR SaaS companies have raised $917M in equity funding across 90 rounds. In the same period last year (i.e. till June 2025), HR SaaS companies had raised $2.08B across 137 rounds. So, 2026 has seen a 56% drop in funding in HR SaaS companies as compared to 2025.

Here are some recent, important funding rounds in HR SaaS:

Company	Round Raised	Amount Raised	Funding Date	Investors
Linc Fr Ltd	Seed	2811	Jun 23, 2026	-
Wellbees	Series A	4857	Jun 22, 2026	Qatar Development Bank and 4 more
Be Full Life	Seed	8540	Jun 16, 2026	Global Brain
Sloneek	Series A	4930	Jun 16, 2026	Orbit Capital and 1 more
Xpreso Recruiting	Seed	5452	Jun 16, 2026	Merantix

See a more detailed list of funding rounds

Y Combinator is the top investor in HR SaaS companies based on number of companies invested.

Here are some top investors in HR SaaS:

Investor	Location	Top Portfolio Companies
Y Combinator	Mountain View (United States)	Gusto, Go1, Rippling and Instawork
Techstars	New York City (United States)	Degreed, Clair, Blink and Jive Software
Europa	Belgium	Sword Health, Firstup, Workable and Sphera Solutions
500 Global	Ho Chi Minh City (Vietnam)	Darwinbox, 15Five, HackerEarth and BetterWorks
Accel	Palo Alto (United States)	Remote, Personio, Qualtrics and Checkr

See a more detailed list of investors

In the year 2026, till June 2026, 38 acquisitions happened in HR SaaS sector. Last year, in 2025, a total of 105 acquisitions happened in HR SaaS sector.

Here are some recent, important acquisitions in HR SaaS:

Company	Acquisition Type	Acquisition Date	Acquirers
Koa Health	Business Acquisition	Jun 23, 2026	PsychPlus
B Online Learning	Business Acquisition	Jun 22, 2026	Acorn
Medallia	Business Acquisition	Jun 18, 2026	Blackstone and 2 more
PayCaptain	Business Acquisition	Jun 16, 2026	The Citation Group
SkillNet	Business Acquisition	Jun 12, 2026	PartsSource

See a more detailed list of acquisitions

Acquisition trends in HR SaaS

Here are the acquisition trends in HR SaaS:

Total Number of Acquisitions

Year	No. of companies
2026	38
2025	105
2024	118
2023	128
2022	162
2021	164
2020	82
2019	106
2018	84
2017	71

In the year 2025, till July 2025, 2 IPOs happened in HR SaaS sector.

Here are some recent, important IPOs in HR SaaS:

Company	IPO Date	Exchange Symbol
Info Tech	Jul 04, 2025	Singapore stock exchange. ( SGX)
Hinge Health	May 22, 2025	New York Stock Exchange (NYSE)
Yunxuetang	Aug 16, 2024	National Association of Securities Dealers Automated Quotations (NASDAQ)
AutoCount	May 09, 2023	Bursa Malaysia (KLSE)
Beisen	Apr 13, 2023	Hong Kong Exchanges (HKG)

See a more detailed list of IPOs

Companies founded by alumni from top colleges in the HR SaaS sector

Most number of HR SaaS startups have been founded by alumni from Stanford University, Harvard University and Massachusetts Institute of Technology.

College	No. of companies
Stanford University	158
Harvard University	118
Massachusetts Institute of Technology	91
Harvard Business School	90
University of Pennsylvania	79
University of Cambridge	62
University of California (Berkeley)	61
IIT Delhi	55
BITS Pilani	51
University of Oxford	51

Total funding in companies founded by alumni from top colleges in the the HR SaaS sector

In the last 10 years, Stanford University graduates' HR SaaS companies have raised the most funding among top colleges. Massachusetts Institute of Technology alumni are second, and University of Oxford alumni are third.

College	Total Funding
Stanford University	$7.19B
Massachusetts Institute of Technology	$3.78B
University of Oxford	$3.41B
Stanford Business School	$2.8B
Harvard University	$2.75B
Columbia Business School	$2.45B
Cornell University	$2.37B
Carnegie Mellon University	$2.28B
Columbia University	$2.2B
Imperial College London	$2.02B