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1、2HR TechHR Techa portfolio company of HR TechHCMa portfolio company of sale ofHR Techa portfolio company of&HR Techa subsidiary ofHR TechHR TechHR TechHR TechHR TechHR TechHR TechHR Tech3 34YTD 2022 M&A activity 29%ahead of 2021 and record 15 M&A transactions completed in Q3 2022YTD 2022 private pla
2、cement activity is lower than 2021 levels;$169M in YTD 2022 vs$804M in 2021Source:PitchBook,CapIQ,Drake Star Proprietary Database(1)Based on Drake Star deal analysisDrake Star Securities LLC is regulated by FINRA and is a member of SIPC.45Notably acquisitions of:AI Matching,Conversational AI,ATS Sol
3、utions(including as platforms for new entrants),Recruiting Services firms by recruiting software companies(PrismHR,Namely,Employ/NXTThing)Wide range of PE firms acquiring sizeable new platforms(TA/iCIMS,TPG/Greenhouse,New Mountain/Radancy)as well as existing portfolio companies adding adjacent solut
4、ions(Rubicon/Harver,K1/Employ,PSG/Sympa)On a more limited basis,combinations of companies with similar offerings to gain scale and other advantagesSource:PitchBook,CapIQ,Drake Star Proprietary Database(1)Based on Drake Star deal analysis5Drake Star Securities LLC is regulated by FINRA and is a membe
5、r of SIPC.6Source:Bureau of Labor Statistics,Wall Street Research,Drake Star Analysis6Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.7Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.Job OpeningsUnemployed WorkersSkills Gap candidates lacking skills to
6、 fill open jobs could be remedied by long-term initiatives of:(i)training existing employees(ii)partnering with educational institutions to improve pipeline,(iii)aligning educational curriculum with needed skillsLess layoffs despite economic headwinds(Job Hoarding)Labor force participation rate is o
7、n a downward trend since 2008Source:Bureau of Labor Statistics,Wall Street Research,Drake Star Analysis8Source:2022 Gartner HR Budget and Staffing Benchmarking SurveyDrake Star Securities LLC is regulated by FINRA and is a member of SIPC.Despite current slowdown in some sectors,sourcing for critical
8、 but scarce talent remains a priorityEmployers are finding it increasingly difficult to predict future skills or to fill future talent gaps primarily through buying talentTalent demand remains well above pre-pandemic levels partly driven by high turnover9 910Source:CapIQ,Pitchbook&DSP ResearchNote:D
9、rake Star did not act as financial advisor on transactions listed on this page1111Outmatch acquired the Amsterdam-based Harver,the leading provider of volume hiring software that digitally transforms the hiring process,for an undisclosed amount.The acquisition will bolster Outmatchs stack of assessm
10、ents,video interviewing,and reference checking enabling global enterprises to make smarter hires more efficiently.TA Associates provided investment into iCIMS along with existing investor Vista Equity Partners,iCIMS is a leading provider of cloud-based talent acquisition solutions.iCIMS will leverag
11、e TAs global network and integration capabilities.Employ has acquired Lever,a leading talent acquisition suite,for an undisclosed amount.The acquisition will add to Employs already industry leading portfolio of acquisition applications which includes JazzHR,Jobvite,and NXTThingRPO brands.Source:CapI
12、Q,PitchbookNote:Drake Star did not act as financial advisor on transactions listed on this page12Note:Drake Star did not act as financial advisor on transactions listed on this page other than where indicated 1213PE TransactionStrategic TransactionPE Bolt-onAcquiresAcquiresAcquiresAcquiresH1 2021H2
13、2021AcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresTalent Acquisition SuiteAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresNote:Selected transactions only,not exhaustiveSource:Capital IQ,
14、PitchBook,Drake Star Proprietary DatabaseDrake Star Securities LLC is regulated by FINRA and is a member of SIPC.14PE TransactionStrategic TransactionPE Bolt-onNote:Selected transactions only,not exhaustiveSource:Capital IQ,PitchBook,Drake Star Proprietary DatabaseDrake Star Securities LLC is regula
15、ted by FINRA and is a member of SIPC.AcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquires&AcquiresAcquiresAcquir
16、esAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresAcquiresQ3 2022Q2 2022Q1 2022Q4 20221515Source:CapIQ,PitchbookNote:Drake Star did not act as financial advisor on transactions listed on this pageNote:Drake Star did not act as financial advisor on transactions listed on this page oth
17、er than where indicated 1617Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.AcquiresQ3 2021Q1 2021Q4 2021Invests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InQ2 2021Inve
18、sts InInvests InReceived InvestmentInvests InInvests InReceived InvestmentReceived InvestmentInvests InInvests InReceived InvestmentInvests InInvests InInvests InInvests InInvests InReceived InvestmentInvests InInvests InReceived InvestmentReceived InvestmentInvests InInvests InInvests InReceived In
19、vestmentInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InReceived InvestmentSeries A-BSeries C+Seed FundingNote:Selected transactions only,not exhaustiveSource:Capital IQ,PitchBook,Drake Star Proprietary Database18Drake Star Securities LLC is regulated by FINRA and is
20、a member of SIPC.Series A-BSeries C+Seed FundingNote:Selected transactions only,not exhaustiveSource:Capital IQ,PitchBook,Drake Star Proprietary DatabaseInvests InInvests InInvests InInvests InInvests InAcquiresInvests InInvests InInvests InInvests InInvests InInvests InInvests InInvests InReceived
21、InvestmentInvests InInvests InInvests InInvests InInvests InReceived InvestmentInvests InInvests InInvests InReceived InvestmentInvests InInvests InInvests InQ3 2022Q1 2022Q4 2022Q2 2022Invests InInvests InInvests In191920Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.Source
22、:Capital IQ and PitchBook21Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.Source:Capital IQ as of November 10th,2022.1.Ceridian,Equifax,Nasdaq,Oracle,Paycor,Paylocity,Qualtrics,SAP,ServiceNow,Workday22Source:Capital IQ and PitchBook1.FY21A FY22E2.FY22E EBITDA divided by FY22
23、E RevenueDrake Star Securities LLC is regulated by FINRA and is a member of SIPC.23Source:Capital IQ,PitchBook,Drake Star Proprietary DatabaseDrake Star Securities LLC is regulated by FINRA and is a member of SIPC.242425Developer of a recruiting platform and talent acquisition suite that enables com
24、panies of all sizes to attract,engage,hire,onboard and promote the talent needed to drive business outcomes.The companys recruiting application delivers real-time recruiting intelligence with technology for the evolving social web,infuses automation and intelligence into an expanded recruiting cycle
25、 to increase the speed,quality and cost-effectiveness of talent acquisition.The company was acquired via a$200 million LBO by K1 Investment Management and simultaneously combined with Canvas,Talemetry and Rolepoint on February 11,2019.The funds will be used to support the ongoing robust growth of th
26、e company.Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.Source:Capital IQ and PitchBook26Developer of cloud-based talent acquisition software intended to empower employers to build a diverse and qualified workforce that aligns with their mission.The companys software offers
27、 assistance throughout every stage of workforce hiring and engagement to clients across retail,healthcare,manufacturing,finance and insurance industries,accelerating and streamlining the entire RECRUITING process with a wide range of AI-powered software.The company entered into a definitive agreemen
28、t to receive development capital from TA Associates on May 6,2022.The companies will partner together to further accelerate global growth and product development expansion.Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.Source:Capital IQ and PitchBook27Helps innovative global
29、 companies digitally transform their hiring processes and works with category leaders to offer custom and technical integrations to an organizations existing systems.The Company was formerly known as Outmatch and acquired Harver on May 11,2021.The Company rebranded as Harver on November 17,2021 and
30、continues to develop the worlds leading volume hiring solution for hourly and professional roles.The company completed a$125 million recapitalization with Rubicon on March 3,2020.Prior investor Camden Partners rolled a small stake in the round.Drake Star Securities LLC is regulated by FINRA and is a member of SIPC.Source:Capital IQ and PitchBook(Including partner office)28