From time to time, in our monthly JEGI Tech M&A Update, we highlight a subsector of the Tech universe that we find particularly interesting and dynamic. This month we are shining the spotlight on the Human Capital Management (HCM) sector, an area I first started tracking in 2002 and have stayed very active in since. We can broadly describe this space as software, services and consulting that help organizations better acquire, manage and optimize their own people resources to help their organizations operate more effectively. Solutions in this area can cover the gamut, from sourcing/recruiting employee candidates, to training and measuring their performance post-hire, to the payroll/compensation/benefits functions and administration. In addition, there are many other related areas, such as assessments, contingent workforce management, outplacement management and analytics, found across the whole spectrum of HCM. While much of our focus has historically been around software solutions for this market, increasingly we are finding lots of compelling activity in various services areas as well, particularly tech-enabled services. HCM is certainly a big-time market. For more information, contact JEGI’s Co-Heads of Technology Banking Jeff Becker and Joseph Sanborn at and