• Thu. Nov 30th, 2023

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Strong Support for Frontline Technology Solutions Funding Persists


Nov 21, 2023

A study from RedThread Research indicates that frontline technology solutions providers are expecting significant growth in 2024, with 69% of them projecting over 31% growth. The study also found that 46% of all vendors have received some form of investment since June 2022, despite a decline in venture capital investment for HR tech overall.

According to RedThread Senior Analyst Heather Gilmartin Adams, frontline technology differs from other HR technologies by specifically focusing on empowering frontline workers. The study identifies three core areas that vendors are focusing on to support frontline workers: enabling performance, fostering learning and growth, and promoting engagement and inclusion.

Performance technologies include performance support, scheduling, task management, performance management, and pay & benefits. Learning & Growth technologies enable frontline workers to develop the skills needed for their roles and to advance in their careers. Engagement & Inclusion tools facilitate communication and collaboration, employee listening and feedback, and employee recognition.

While most software solutions support two of these categories, very few products cover all three. RedThread co-founder and principal analyst Dani Johnson notes that out of the 15 capabilities identified in the category, no single solution checked all the boxes.

RedThread recommends that companies carefully consider their goals before choosing a frontline tech solution and keep an eye on new developments in this niche to stay up to date with industry advancements.

By Editor

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