SUBSCRIBE to The Kaliba Shortlist I May 2024
Welcome to The KALIBA Shortlist: a concise monthly newsletter featuring news and insights for technology and IT Sales professionals building a career in APAC.
In this month's edition, we're covering...
✅ TECH NEWS ROUND UP
✅ CAREER INSIGHTS
✅ FEATURED JOBS
Here's what's happening in the world of tech this month...
1. Rippling $200 million funding round
Workforce management software Rippling has recently secured a $200 million funding round, bringing its valuation to $13.5 billion. Rippling is a workforce management system that enables companies to automate everything from routine tasks, like running payroll, to cross-functional planning, like aligning on headcount.
2. Ramp sees 32% bump in valuation
Spend Management startup Ramp recently raised another $150 million (Series D-2), which saw its valuation surpass the $8 billion mark. The start-up focuses on helping finance teams capture a better understanding of corporate spending.
3. TikTok banned in the US
The U.S. House of Representatives passed a bill that would require TikTok owner ByteDance to sell the social media app or see it banned in the United States. The catalyst being the app is viewed as a “breach of personal information” and a “spy balloon” of unknowing users.
4. Blackbird funding: fairytale or potential nightmare?
Receiving funding for a startup is perceived to be a golden milestone; this can also be their undoing. Blackbird typically allocates the majority of its long-term funds to their “shiniest” startup, leaving ‘less-loved’ startups in their shadows and, even worse, discarded by Blackbird. Other VC firms have admitted their avoidance of Blackbird-discarded startups.
5. Early-stage funding showing promise for Asia region.
Investors in Asia seem to be drawn to investing in the “new” vs. feeding the growth of more mature startups.
Early-stage funding (typically series A & B) in Q1 saw a 51% increase from Q4 2023. However, Total VC funding in Asia fell by 4% from Q4 2023 and an 8% decline year to year (Crunchbase). The sum reflects the lowest amount of funding in the Asia region in a single quarter since 2016.
What else has caught your attention in the tech space?
🚨 Recruitment market insights from the ABS
The Australian Government recently released a ‘Recruitment Market Insights Report’ for March.
Here's a snapshot of what the data is saying...
🏙️ Capital city recruitment has dropped
In March, recruitment activity decreased in capital cities, while recruitment activity in 'rest of state’ areas saw an increase.
🤔 Australian Employers are still unsure about headcount growth
The proportion of employers expecting to increase their staff in the next 3 months has decreased by 4 percentage points, to 22% in March.
📈 Staff turnover is still the main hiring driver.
Recommended by LinkedIn
The main catalyst for recruiting (62%) in March 2024 is staff turnover. While only 27% recruited to fill new vacancies, 11% of employers were recruiting to fill both new headcount and positions due to staff turnover.
⌛ Time to fill vacancies is still a big challenge for most.
The proportion of employers unable to fill their vacancies within a month was 49% in March 2024, but this was a 5% reduction from February.
This data has been a hot topic in our client conversations, and we're keen to hear your thoughts!
💡 CAREER INSIGHTS: Why 2024 is the year for Australian IT pros to level up their skills
The Australian IT industry is facing a deepening skills crisis, presenting both challenges and opportunities for IT professionals in the country. As the demand for tech expertise grows, now is the time for IT pros to take the initiative to self-upskill and prepare themselves for lucrative career advancements and salaries!
READ OUR BLOG to learn more.
💻 FEATURED JOBS I Tech & IT Sales
Check out some of the latest roles we're hiring across Australia's East Coast ⬇️
❇️ Technical Support Engineer | Sydney | Cybersecurity Vendor | Up to $130k base + Super + Benefits - Contact Cooper Knox
❇️ Growth Marketing Manager | Brisbane | MarTech Vendor | Up to $100k base + Super + Bonus + Benefits - Contact James Kennedy
❇️ Business Development Manager | Gold Coast | IT Services Company | Up to $150k base + Super + Comms - Contact Josh Owen
❇️ Channel Account Manager | Melb/Sydney | SaaS Vendor | Up to $250k OTE + Super + Health - Contact Josh Drummond
❇️ Regional Sales Manager | Sydney | Network Security Vendor | Package undisclosed - Contact Greg Brown.
You know the drill...
For further information, VISIT OUR WEBSITE or reach out to our team here on LinkedIn.
✌️That's a wrap on the MAY edition of The Kaliba Shortlist
If you're looking to recruit for your tech or sales team across APAC or you'd like to explore career opportunities, reach out to the Kaliba team.