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May 2026
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Largest HRTech Public Companies
Benchmark revenue and EBITDA valuation multiples for public comps like
SAP, Recruit Holdings, Paychex, Workday and Info Edge.
 | Founded in Germany in 1972 by former IBM employees, SAP is the world’s largest provider of enterprise application software. Known as the leader in enterprise resource planning software, SAP’s portfolio also includes software for supply chain management, procurement, travel and expense management, and customer relationship management, among others. The company operates in more than 180 countries and has more than 400,000 customers, approximately 80% of which are small to medium-size enterprises. | $178 | -42% | $208B | $205B | 4.7x | 14.5x | ||
 | Recruit is a holding company for various technology and employment-related businesses. Recruit’s primary business is its HR technology segment, in which it owns two out of three globally scaled employment-related platforms: www.indeed.com, an online marketplace for employment; and www.glassdoor.com, an online review site for employers. Recruit also owns various marketing businesses operating in Japan for life events and lifestyle, a software solutions business for small and medium-size enterprises, or SMEs, in Japan, and various staffing businesses operating throughout the developed world. | $50 | -9% | $70B | $67B | 2.8x | 14.5x | ||
 | Paychex is a technology company providing human capital management solutions, enabling clients to better implement payroll, talent, time, tax, and benefits administration. It has a diverse set of product offerings addressing client needs. Aside from its traditional cloud-based payroll and HCM software offering, which accounts for close to half of total revenue, the company provides outsourcing options. Paychex's administrative service organization and professional employer organization accounts generate over 40% of sales. The balance of revenue is generated through retirement services, insurance solutions, and other products. In fiscal 2025, the company had 800,000 clients and almost 2.5 million worksite employees across its ASO and PEO. | $94 | -41% | $34B | $37B | 6.6x | 14.5x | ||
| Workday is a software company that offers human capital management, financial management, and business planning solutions for enterprises. Known for being a cloud-only software provider, Workday was founded in 2005 and is headquartered in Pleasanton, California. | $128 | -48% | $32B | $30B | 3.2x | 9.7x | ||
 | Info Edge (India) Ltd is engaged in offering services in the areas of recruitment, matrimony, real estate, and education through online portals. The business segments of the company are Recruitment solutions, which generate maximum revenue, 99acres for Real Estate, and Others. The Recruitment Solutions business comprises the www.naukri.com, www.quadrangle.com, www.naukrigulf.com, www.firstnaukri.com, and fast forward candidate services. 99acres.com derives its revenues from property listings, builders, and brokers, branding and visibility through microsites, home page links, and banners, and servicing real estate developers, builders, and brokers. The Others segment comprises Jeevansathi and Shiksha verticals. The group caters to customers located in India and internationally. | $10 | -33% | $7B | $6B | 20.0x | 28.2x | ||
 | Kanzhun's Boss Zhipin job platform connects job seekers and employers. Boss Zhipin is China’s largest online recruitment platform based on monthly active users, or MAU, and was established in 2014. Kanzhun earns revenue by providing services to enterprise customers primarily through its mobile app, which promotes engagement between recruiters and workers and operates on a recommendation basis powered by artificial intelligence. The platform specializes in transportation, logistics, construction, and service-based industries. About 85% of the companies looking to hire are small and medium-size enterprises. Its main competitors are 58.com, 51job, and Zhilian Zhaopin. Tencent has a 9.2% stake in Kanzhun. | $14 | -21% | $6B | $4B | 2.9x | 6.2x | ||
| Founded in 1998, Paycom is a human capital management software-as-a-service provider addressing customer requirements surrounding payroll, talent acquisition, talent management, human resources management, and time and labor. The company primarily generates revenue through the sale of subscriptions providing access to its HCM platform. To a lesser extent, the company also generates revenue from implementation services provided to customers as well as interest income generated from customer funds. | $137 | -47% | $6B | $7B | 3.4x | 8.7x | ||
| Founded in 1997, Paylocity is a cloud-based human capital management and payroll platform servicing midmarket customers. The company’s average client size is around 150 employees. Its products help with recruiting and onboarding, payroll, time and labor, human resources, benefits, learning, and performance and compensation workflows. In fiscal 2025, the company generated over $1.5 billion in revenue across more than 41,000 customers. | $111 | -42% | $6B | $6B | 3.6x | 9.9x | ||
 | Totvs SA is a provider of information technology solutions to small and medium enterprises in the education, government, healthcare, and retail end markets. The Company's business purpose is to provide business solutions for companies of all sizes, through the development and sale of management software, productivity platforms, collaboration, and data intelligence, digital marketing, as well as the provision of implementation, consulting, advisory, maintenance services, e-commerce, and mobility. The Company operates in three reportable segments, which include the TOTVS Management segment, the RD Station segment, and the TOTVS Techfin segment. The majority of its revenues is generated from the TOTVS Management segment. | $7 | -10% | $4B | $5B | 4.2x | 14.9x | ||
 | Seek is a technology company operating in the employment segment. Seek’s primary business is an online marketplace for employment, www.seek.com.au, which is the largest online marketplace for employment in Australia and New Zealand. Seek also owns and operates employment listings platforms in Southeast Asia and owns a stake in an investment business in employment listings platforms and other employment-related businesses. | $10 | -42% | $4B | $4B | 5.6x | 11.5x | ||
 | Shawbrook Group PLC is a specialist savings and lending bank operating in the United Kingdom. It focuses mostly on poorly served customer segments across the small to medium-size enterprise and retail market of the island nation. Shawbrook's primary markets include property, business, and consumer finance. The company has grown since its founding through mostly acquisitions. Net operating income mostly derives from asset finance, commercial mortgages, and secured lending. Shawbrook emphasizes customer service, and reputation. | $4 | -- | $2B | $3B | 3.3x | — | ||
| Visional Inc is engaged in operation of internet services including BizReach, an online direct recruiting platform specialized for professionals. | $48 | -16% | $2B | $1B | 2.7x | 9.5x | ||
 | Hilan Ltd is an Israel-based Application Service Provider (ASP) company. It provides overall management of the human resource in organizations, such as payroll, human resources, time and attendance and pension administration. The company serves banking and finance, communication, health and medicine, retail, hi-tech, teaching and education, transportation companies, hotels, institutions and many others. | $77 | -7% | $2B | $2B | 1.6x | 10.3x | ||
| ATOSS Software SE supplies technical and consulting solutions for professional workforce management and demand-driven workforce deployment. From conventional working time management to mobile apps, detailed workforce forecasting, sophisticated workforce scheduling, or strategic capacity and demand schedules, the company offers its customers various solutions in the cloud or on-premises. It generates sales revenue from licensing software products to end-users or to resellers, from cloud subscriptions, maintenance contracts, consulting services, the sale of hardware as well as from providing other goods and services. | $92 | -39% | $1B | $1B | 5.9x | 14.7x | ||
| Upwork Inc is a United States-based company that operates an online marketplace that enables businesses to find and work with skilled independent professionals. The company develops platform for hiring and freelancing purposes and connects businesses with AI-enabled talent across every on-demand work type, including freelance, agency, fractional, and payrolled. The business generates revenue from Talent and Clients across the USA, India, Pakistan, the Philippines and the rest of the world. Maximum revenue of the company is derived from Talent segment. | $9 | -43% | $1B | $888M | 1.1x | 3.9x | ||
| Freee KK is a developer of cloud-based software. Its software products include Cloud Accounting software, Cloud HR Labor software, Cloud ERP for Midsize companies, among others. | $16 | -32% | $920M | $784M | 3.5x | 87.9x | ||
 | Grupa Pracuj SA is engaged in offering digital recruitment services. The company is an owner of brands contributing to a digital ecosystem addressed to the HR world. It segment includes Poland; Ukraine and Germany. The company derives a majority of revenue from Poland segment. | $12 | -35% | $856M | $866M | 3.8x | 8.5x | ||
| Timee Inc is engaged in operating Timee, on-demand job platform. | $7 | -32% | $745M | $730M | 3.3x | 16.2x | ||
| UT Group Co Ltd is engaged in worker dispatch and outsourcing of permanent employees in manufacturing, design, and development, construction, and other sectors. The firm operates in three segments: Manufacturing Business, Solution Business, and Engineering Business. | $1 | +11% | $700M | $564M | 0.4x | 5.4x | ||
| DIP Corp is a Japan-based technology company that mainly provides job information and employment agency services online. The company has five business divisions. The Baitoru Com segment offers job information to contractors and recruiting companies. The Job Engine segment provides job offering and career change information to recruiting companies. The Hatarako Net provides staff service job information to staffing companies. The Other division specializes in services for restaurant customers, while the Agent segment provides employment services for healthcare facilities. | $12 | -18% | $609M | $496M | 1.4x | 4.6x | ||
| Quhuo Ltd is a gig economy platform focusing on local life services in China. It provide tech-enabled, end-to-end operational solutions to consumer service businesses, including on-demand delivery solutions, mobility service solutions, housekeeping and accommodation solutions, and other services. Its three operating segments, include (i) on-demand delivery solutions, (ii) mobility service solutions, and (iii) housekeeping and accommodation solutions and other services. | $4 | -97% | $352M | $363M | — | — | ||
| ZipRecruiter Inc is an online employment marketplace. It connects millions of job seekers with companies of all sizes. It is a two-sided marketplace for work that simplifies the job market for both job seekers and employers. Unlike traditional online job sites, ZipRecruiter works like a matchmaker curating job opportunities for job seekers, and candidates for employers. | $4 | -39% | $295M | $459M | 1.0x | 40.0x | ||
| ZIGExN Co Ltd develops and operates the internet media platforms called EX Sites that provide information from multiple media and submit user's requests to multiple media in one access. The company's Life Media Platform business developed services to a wide range of areas related to daily life. The company operates career change EX, an employment site, Rent SMOCCA EX, a search site for real estate information, Pharmacist jobs EX, a pharmacist job search site, among others. | $3 | -6% | $273M | $229M | 1.3x | 4.7x | ||
| Quick Co Ltd provides human resource solutions and information services. The company operates in four business divisions namely Recruiting Division, Staffing Services Division, Information Publishing Division, and Others. | $5 | +2% | $269M | $185M | 0.9x | 4.9x | ||
| En Inc is a Japanese company that provides human resource services. It offers online job information sites and recruitment support platforms for various employment types, including full-time, part-time, and temporary work. The company provides recruitment consulting, career change support, and talent assessment services. It also offers tools for employee training, evaluation, and retention, aimed at improving organizational performance. | $7 | -35% | $268M | $83M | 0.2x | 0.9x | ||
| Asure Software Inc is a provider of cloud-based Human Capital Management (HCM) software solutions delivered as Software-as-a-Service (SaaS) to businesses of all sizes. It facilitates small and mid-sized businesses (SMBs) to develop their Human Capital to get to the next level, stay compliant, and allocate their time, money, and technology toward growth. The company's HCM suite, named AsureHCM, includes cloud-based Payroll and Tax, HR, a Time and Attendance software. Its HR services range from HR projects to outsourcing payroll to HR consulting services. The firm sells its HCM products majorly in the United States. | $9 | -5% | $264M | $320M | 2.3x | 10.0x | ||
| One Career Inc is engaged in Career data platform business which includes recruitment digital transformation support services, etc. | $12 | -13% | $214M | $175M | 3.5x | 12.2x | ||
| Port Inc is involved in the internet media business. It is developing technology in the three social task areas of career (employment), finance (finance) and medical (medical). The objective of the group is to solve the social issues with technologies. | $16 | +58% | $213M | $262M | 1.7x | 10.5x | ||
| DHI Group Inc is a provider of software products, online tools, and services that deliver career marketplaces to candidates and employers in the United States. The company operates through two reportable segments: ClearanceJobs and Dice. Its brands enable recruiters and hiring managers to search, match, and connect with skilled technologists, particularly in technology and active government security clearance, while professionals find job opportunities, job advice, and personalized data. ClearanceJobs connects security-cleared professionals with employers in a secure environment and supports engagement through messaging and live video. Dice, which generates maximum revenue, is a destination for technology and engineering talent, offering job postings across a range of technology roles. | $4 | +63% | $152M | $191M | 1.5x | 81.3x | ||
 | Freelance.com SA specializes in providing intellectual services to large businesses, small and medium-sized businesses, and independent entrepreneurs. | $3 | -7% | $143M | $162M | 0.1x | 3.8x | ||
| Gakujo Co Ltd provides employment information, various recruitment consulting services, and manpower dispatch and job placement services. | $10 | -5% | $139M | $99M | 1.4x | 5.9x | ||
 | Saramin Co Ltd is the job portal site in Korea. It is engaged in the portals and other internet information media service activities. The site is used by job seekers. It provides public recruitment information, headhunting, HR dispatch, and public recruitment support services through an online job portal. | $12 | +18% | $121M | ($14M) | (0.2x) | (0.2x) | ||
| OpenWork Inc is engaged in the development and management of OpenWork job and recruitment information platform for job-changing and employment-based employee review data. The company operates in a single segment, the working data platform business. | $6 | -13% | $121M | $72M | 2.4x | 9.3x | ||
| ReadyTech Holdings Ltd is a provider of people management software for educators, employers, and facilitators of career transitions. Its products are JR Plus, A2E, HR3, ePayroll, JR Gov, Aussiepay, and others. The company's operating segments include Education and Work pathways, Workforce Solutions, and Government and Justice. It generates maximum revenue from the Government and Justice. The education segment mainly provides products and services to tertiary education providers. Its Workforce segment provides products and services to a mid-sized company across various industries. The Government division provides government and justice case management software as a service solution to local governments, state governments, and justice departments. | $1 | -42% | $120M | $153M | 1.7x | 6.0x | ||
| Lucas GC Ltd is a technology-driven online agent-centric human capital management service provider targeting professionals based on PaaS in China. Its business segments consist of recruitment services, outsourcing services, and other services, which include information technology services and training services. | $2 | -91% | $77M | $86M | 0.6x | 20.9x | ||
| Wantedly Inc develops a social-networking service for business professionals. | $7 | -18% | $63M | $24M | 0.7x | 2.2x | ||
| Freelancer Ltd is engaged in freelancing, outsourcing services, and crowdsourcing marketplace. It offers software development, writing, data entry, and design services. The company is organized into two operating segments: Online marketplace which also generates key revenue, and Online payment services. The company operates predominantly in Australia, where majority of the online revenues and expenses are incurred. | $0 | -30% | $44M | $32M | 0.8x | 5.2x | ||
 | PaySauce Ltd is a New Zealand-based software company. It is a Software as a Solution (SaaS ) fintech platform providing solutions for people at work. The technology enables small employers to digitally onboard, pay, and manage employees from any device. The platform includes rosters, mobile timesheets, payroll calculations, banking integration, automated payments, PAYE filing, labour costing, automated general ledger entries, and digital employment contracts. It generates maximum revenue in the form of processing fees, which are the monthly or annual subscription customers pay for PaySauce payroll products. Geographically, the company generates a majority of its revenue from its business within New Zealand. | $0 | +47% | $21M | $25M | 6.7x | 32.4x | ||
| Xref Ltd is a human resources technology company that automates pre-employment recruitment checks, employee engagement surveys, and exit interviews. The segments of the company are Xref Platform, which includes Enterprise Platform and Recruiter Platform for Pre-employment reference surveys, pulse, and exit surveys; Trust Marketplace includes ID verification, Qualification checks, and Background checks; and Xref Engage includes Engagement surveys. Geographically, it derives a majority of its revenue from Australia and also has a presence in Canada, the United Kingdom, New Zealand, and the United States. | $0 | -14% | $16M | $19M | 1.2x | 10.2x | ||
| Emplocity SA deals with the use of artificial intelligence and automation in business. Its Emplocity Platform is proprietary software that allows companies to create domain bots that easily automate repetitive business processes, increase employees’ efficiency, as well as save time and money. The company's technology offering includes Emplocity Platform, Conversational Interface, Artificial Intelligence, and Smart Automation. | $0 | -86% | $1M | $1M | 5.4x | (2.5x) | ||
| — | $0 | -- | $338K | $6M | 0.2x | (0.6x) | ||
| Median | $9 | -21% | $352M | $459M | 2.3x | 9.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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