I see lots of theories about what the HRTECH market is worth. The numbers range dramatically, depending on who is calculating them. When I worked at Gartner, I admired the work Chris Pang and Fabrizio Biscotti did to figure out the value of the software markets.

While calculating the size of the market requires a lot of subjective analysis, proprietary data collection and assumptions, the stock market provides a more objective measure of the value of listed companies in that market. An Index is typically a weighted average of section of the market.

Jason Corsello of Acadian Ventures has created the Future of Work Index. It makes fascinating reading, and it is full of useful insights for investors, software companies and software users. As far as I’m aware, this is first index of its kind. Of course, there are many HRTECH / FOW companies that aren’t listed on stock exchanges, but nevertheless, a robust analysis of the listed companies from across the world is very useful. Turns out that HRTECH/FOW has performed rather well.

Future of work index performance since 2014.

The report is well worth spending some time on. Jason breaks it down by sub-sections. The oldest company on the list was founded in 1949.
If you have comments, Jason and I would love to hear them.

(disclosure I’m an LP in the Fund, and I am a NED on the board of HHR, one of the companies on index).