Enterprise software and software-as-a-service (SaaS) are continuing to hire talent despite the funding winter, reports Supriya Roy for The Economic Times.
Many enterprise SaaS companies are hiring as they prepare for market expansion and product development, and securing significant venture capital has given the space an advantage, adds the report. The enterprise software segment saw 62 funding rounds in the second quarter of 2023 ending June, racing ahead of other categories like edtech, mobility, and e-commerce, according to Tracxn data. In the last quarter ending March, it was the second-most funded segment with 73 deals.
How are hiring trends evolving in the space? Data management startup Hevo Data was finding it hard even to interview candidates just 6-9 months ago, when candidates wanted to know pay scales even before interviews, said Manish Jethani, Co-founder and CEO. However, candidates are now asking who they will work with and how they will operate in the role, he adds. Driving this in attitude are mass layoffs by startups and legacy technology companies, said enterprise software founders.
Market dynamics have shifted, and candidates are focusing more on long-term sustainability on roles than salary jumps, Founder and CEO of Kapture CX Sheshgiri Kamath. Candidates are also becoming picky about the startups they work in, and are asking founders questions about cash runway and growth projections, along with salary packages, adds the report.
Corporate learning and skilling startup Disprz, which recently raised a $30 million fundraise, has grown its headcount by 25% in the last year, and plans to hire 75 more people by the end of the year.