HCM Acquisition News - Believe it or not, Snoop Dogg is acquiring recruitment firms

Here are 6 deals announced from this past week that include companies like Toptal , HudsonRPO , Allegis. Additionally we’ve provided insight into the challenges that startups are facing among a retreating venture funding market.

April 15th-19th Deals

Toptal acquires a software development company - IT Staffing & Consulting.
Another example of The Great Merge between recruitment and consulting firms. Toptal is technically a "talent marketplace" but they provide the same outcome (as recruiting firms) for clients. They place talent into open roles. With the prevalence of VMS/MSP gatekeepers AND industry wide hiring freezes, the recruitment world is looking for direct and project-based revenue sources that consulting firms like VironIT deliver.

Vangst acquires temp staffing division of Cannabizteam - Staffing & Exec Search.
If you can believe it, Snoop Dogg is investing in the staffing industry. The market for multi state cannabis operators is probably not yet very large but Vangst is now helping 90% of those operators find talent. Vangst raised $30M (Snoop Dogg's fund is a backer) and has multiple revenue channels setup to help employers find talent. Adding Cannabiz's exec search team adds one more revenue source. 

Allegis Subsidiary QuantumWork Advisory acquires Talent Tech Labs - HR Tech & Consulting.
TTL created a comprehensive worktech ecosystem layered with so much in-depth research, insight, and expertise. QuantumWork now has this information repository and team of experts at their fingertips to be used for any consulting engagement. This will certainly help put TTL's insights into practice. 

GenSpark acquires India-based ProGrad - Employee Training.
GenSpark's tech training and up-skilling services now includes a growing tech talent pool in India. This tuck-in is part of GenSpark's focused effort to expand in India and APAC. 

WilliamCharles and Reflex Staffing merge- ExecSearch.
This is a merger of two boutique firms that will now expand their service geographies from Michigan to Pennsylvania.. 

Hudson RPO completes their second Dubai-based acquisition in as many months - RPO & Exec Search.
In what looks like another Dubai-based aquihire, Hudson RPO is executing a clear strategy to build a team and expand operations in the Middle East. Last month they acquihired Execuitve Solutions.

Here is some interesting commentary on the startup funding environment - Startups.
VC funding transactions are hitting lows. Startups are not able to access Venture dry powder. Startups that once relied on mutliple rounds of VC funding are facing a reality check. Either recap, cut costs, exit via a sale (likely at a lower valuation than what they originally hoped for), or return what's left of cash and wind down. Unless a startup shows growth or at least a believable promise of growth, raising additional funds will become even more difficult. 

If I missed any deals, please let me know with a reply.

ALSO, if you ever want your company name to appear in one of these headlines, The LongBoard Group would love to help!

More deals to come Friday.

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