🚀 May 2026 | HRTech Funding Highlights 🌍

May has been a bit less busy on a global scale with not that many hyper-fundings around the world. However, there were several interesting investments from VCs into European HRTech and WorkTech startups and scaleups - with a strong focus on UK.

We still see similar patterns of fundings in AI-first scale-ups disrupting traditional ways of learning, talent acquisition and employee benefits. Again several of those also had a focus on the operational/ frontline workforce.

Here are the details:

⬇𝐈𝐧𝐯𝐞𝐬𝐭𝐦𝐞𝐧𝐭𝐬:

💵 Multiverse (🇬🇧) raised a $70M in Series-E funding led by Schroders Capital, with renewed participation from General Catalyst, Lightspeed, Index Ventures, BOND, and StepStone Group at a $2.1bn valuation🦄. Multiverse is building the AI adoption layer to bridge the gap between the tech’s potential and real-world economic growth. This investment will accelerate the expansion across Europe, with the goal of ensuring that AI benefits the workforce, rather than displacing it: https://www.multiverse.io/blog/multiverse-raises-70-million-europes-ai-adoption-platform

💵 Ethos (🇬🇧) raised a $22.75M Series-A funding led by Andreessen Horowitz, with participation from General Catalyst, XTX Ventures, Evantic Capital, and Common Magic. Ethos uses AI to map your comparative advantage, then match you to paid opportunities across the economy: expert calls, research, AI training, fractional roles, full-time jobs. The company has eight people on its team now, and its goal is to keep the team compact while scaling up: https://techcrunch.com/2026/05/06/ethos-raises-22-75m-from-a16z-for-its-expert-network-with-voice-onboarding/

💵 RemotePass (🇬🇧) raised a $17.4M Series-B round led by the EBRD VC, with participation from 500 Global and existing investors Oraseya Capital, 212 VC, Access Bridge Ventures, and Khwarizmi Ventures. Profitable in 2025, the global HR, payroll, and spend platform is scaling across Europe and the US, with new investment in commercial expansion, AI, and embedded fintech: https://newsroom.remotepass.com/265841-remotepass-raises-17-4m-series-b-led-by-ebrd-venture-capital-as-global-employment-and-fintech-converge/

💵 Cosmico (🇮🇹) raised a €12 million Series-B funding round led by P101 SGR and has finished acquiring Flatmates two years earlier than planned. Cosmico provides corporate clients with access to a network of over 35,000 digital professionals across Italy and Spain. Instead of a typical freelancer marketplace, clients are matched to talent through a managed service. The fresh funds will finance three new acquisitions by the end of the year, targeting new business areas and strengthening existing ones in Italy and Spain: https://techfundingnews.com/cosmico-12m-series-b-p101-future-of-work-flatmates-acquisition/

💵 Happl (🇬🇧) raised a $11m Series-A round led by Portage Ventures with participation from F Capital and continued support from Y Combinator, 6 Degrees Capital, Haatch and Ventures Together. Happl is a global benefits operating system for multinational employers. A single, AI-powered platform that replaces the fragmented country-by-country processes many organisations rely on today, and makes it genuinely easier for global teams to offer benefits that truly reflect employees' needs: https://happl.com/blog/happl-raises-11m-series-a-to-build-the-global-benefits-operating-system

💵 Elephant Company (🇩🇪) raised a €5M Seed round led by EnBW New Ventures and WEPA, with business angel participation for its platform bringing AI-supported knowledge transfer in operational teams. The investment will be used to further develop team and platform with the goal to bring AI-powered learning directly to where operational teams truly need it. At the point of need, not in the training room: https://www.startbase.de/news/elephant-holt-ueber-5-mio-e/

💵 Edumentors (🇬🇧) raised a $4M seed funding round from investors including Yazan Al Homsi. The company connects students with tutors from elite universities including Cambridge, Oxford and other leading UK institutions. The platform has delivered over 200,000 hours of tutoring globally. Edumentors will use the funds to expand operations and its development efforts: https://www.finsmes.com/2026/05/edumentors-raises-over-4m-in-funding.html

💵 Mathew (🇪🇸) raised a €1.2M Seed round backed by Encomenda Capital Partners SGEIC and Decelera. Mathew is building an AI platform streamlining assessment, academic management, and personalised learning. The Catalan edtech startup has tripled revenue in its second year and projects a further tripling in 2026 - already partnering with CENEVAL, Latin America's leading standardised testing body, and working with 100+ institutions in Spain. It now plans to accelerate expansion into Mexico and Latin America: https://theaiinsider.tech/2026/06/01/mathew-raises-e1-2m-seed-round-to-expand-ai-education-platform-across-latin-america/

Additional start-ups reported smaller (below €1M) or undisclosed funding including Skillberg (🇫🇷), CareerOS (🇪🇸), LedgerBee Technologies A/S (🇩🇰), Karpatia Benefits (🇺🇦), Acadèmia.tv (🇮🇹).

🌎 Interesting global fundings include SAP's strategic investments in three AI scale-ups n8n (🇩🇪), Parloa (🇩🇪) and Conduct (🇬🇧).

Let me know if I overlooked something in the comments below! 👇

Congrats to the startups, their teams and the founder including Euan Blair, James Lo, Kamal Reggad, Francesco Marino, Ben Towers MBE, Dr. Maurice Zomorrodi, Niklas Dehio, Tornike Asatiani, Alan Fusté and their teams as well as to the investors involved!

About the publisher:

The newsletter is published by Jens Bender, founder and managing partner of WorkTech Advisory and co-initiator of HR Angels Club.

About WorkTech Advisory: Working with HRTech investors, entrepreneurs and leadership teams on growing their people-centric businesses. Read more at: https://www.worktech-advisory.com/

About HR Angels Club: Your access to the most successful and influential HR-Tech Entrepreneurs in the DACH Region. Read more at https://www.hrangels.club/