Startups increase hiring despite lingering pandemic
- Job openings at OurCrowd companies in Israel jump to 400% in 6 months; increase 250% globally
- Software engineers are most in demand
- Hybrid workplace/remote working expected to continue
The OurCrowd Jobs Index is a quarterly report and data series tracking vacancies and hiring patterns at high-tech companies in Israel and abroad. All data is based on a survey and the Jobs section of the OurCrowd website, where more than 100 portfolio companies list current vacancies.
(First publication: February 2021).
EXECUTIVE SUMMARY
Job openings triple
Despite record-high unemployment in Israel and other western countries, high-tech startups are seeking to fill hundreds of job openings at the start of 2021. The number of vacancies at OurCrowd companies in Israel and abroad nearly tripled in H2 2020 to 912. In Israel, the number of job opportunities at OurCrowd companies increased 400% since May 2020, reaching 219 in January 2021.
OurCrowd companies posted an average of 14 job openings each day during Q4 2020, up from 13 per day during Q3 and 10 per day during Q2, when uncertainty over the pandemic and the economy was at its peak.
Software engineers in demand
Demand for staff increased during 2020 across most job titles but grew fastest for software engineers, according to a survey of OurCrowd portfolio companies. About one-third of the companies surveyed said they hired more aggressively during the pandemic than before the crisis.
Employment of software developers is projected to grow 22% from 2019 to 2029, much faster than the average for all occupations, according to the US Bureau of Labor Statistics.
Job growth to continue
Looking forward, OurCrowd portfolio companies said they expect job growth to continue through 2021, with most workplaces expecting to maintain a mix of in-person and remote working.
“We will be expanding our global team further in 2021,” said Howard Edelstein, CEO of BioCatch, a behavioral biometrics company providing fraud prevention solutions to financial services, whose job ads received more clicks than any other OurCrowd portfolio company in the fourth quarter of 2020. “With almost 200 employees on board we are hiring across all departments and hope to grow to 250 employees by the end of this year.”
Companies said they plan to add new employees in a variety of fields as business expands in 2021.
“Memic will continue the process of building out its commercial team in the US, adding talented individuals in sales, customer support, professional education, marketing, product management, and clinical affairs,” said Dvir Cohen, CEO of Memic Innovative Surgery Ltd., which is developing a surgical robotic system. “Memic will enhance its research and operational capabilities to expand targeted applications and surgical disciplines, adding software developers, artificial intelligence experts, project managers, mechanical and systems engineers.”
Adi Ben-Dayan, Co-Founder and VP R&D at Rewire, said: “Our R&D and Product teams are growing. We are looking for strong and passionate professionals who relate to our mission and want to harness their skills to do good.”
SURVEY FINDINGS
1. Total number of vacancies in OurCrowd portfolio companies
As of January, 2021, 101 portfolio companies were seeking to fill 912 jobs. Of those, 219 were in Israel and 279 were in the United States.
At the end of June, 2020, there were 350 vacancies at OurCrowd portfolio companies, of which 41 open positions were in Israel.
2. Companies’ plans for hiring in 2021
What is your company’s employee growth plan for 2021? 
A small majority of companies (52.4%) said they would pursue a “cautious” employee growth plan in 2021, while 47.6% said they would be hiring more aggressively.
3. Hiring patterns in Q4 2020 compared with Q4 2019
Compared to Q4 2019, pre-Covid lockdowns, is your company hiring more, less, or about the same?
42.9% of companies surveyed said their rate of hiring had not changed, while 33.3% said they were hiring more, and 23.8% said they were hiring fewer workers.
4. Remote vs. in-person work
By July, 2021, will your employees will be back at the workplace full-time, or hybrid between remote and workplace?
As Covid-19 vaccines roll out, only 14.3% of surveyed portfolio companies see their employees working solely in the workplace by July 1, 2021. The vast majority, 85.7%, predict a hybrid of in-person and remote work.
5. Demand for different positions since the pandemic began
Which professional roles have seen increased demand since the Covid pandemic began?
Demand has grown most sharply for software engineers, with 55% more jobs available at the end of 2020. Most other types of positions saw growth of about 10%.
6. Job Postings
Total number of job vacancies at 100 OurCrowd portfolio companies on a monthly basis in 2020
In Q4 2020, portfolio companies posted a total of 14 jobs each day, on average – up from 13 in Q3 2020, and 10 per day in Q2 2020. This represents growth of about 40% from Q2 to Q4 in the number of jobs posted daily, indicating a quick recovery from the uncertainty at the beginning of the pandemic for many portfolio companies.
7. Most popular OurCrowd Portfolio Jobs
Portfolio companies with the most clicks on their jobs ads in Q4 2020
1. BioCatch: Behavioral biometrics company providing fraud prevention solutions to financial services.
2. Bizzabo: Control center for event planning and attendee experience that consolidates logistical, promotional, and social tools.
3. TechSee: Visual technical support that uses AR to remotely demonstrate the technician’s instructions.
Portfolio companies with the most clicks on their jobs ads in 2020
1. BioCatch: Behavioral biometrics company providing fraud prevention solutions to financial services.
2. Bizzabo: Control center for event planning and attendee experience that consolidates logistical, promotional, and social tools.
3. Beyond Meat: Develops and manufactures a plant-based meat substitute [NASDAQ: BYND].
4. TechSee: Visual technical support that uses AR to remotely demonstrate the technician’s instructions.
Most popular jobs posted in Q4 2020
1. Software engineering
2. Sales and business development
3. Operations
4. Information Technology
5. Product
The OurCrowd Jobs Index is a quarterly report and data series tracking vacancies and hiring patterns at high-tech companies in Israel and abroad. All data is based on a survey and the Jobs section of the OurCrowd website, where more than 100 portfolio companies list current vacancies. Next publication: May 2021.
© OurCrowd 2021
