PeopleMatter, a human resource management solutions provider, has raised $16 million in Series E funding. The HR software market went through an unprecedented wave of consolidation in just two years. The HR software market is forecast to grow by 2020 at a seemingly low CAGR of 2.4% – source: Human Resources (HR) Software Market Forecast. However, this relatively low overall growth rate is not indicative of the profound market shifts and inner market dynamics. The growth in the HR software market is driven by talent management sectors (recruiting, training, performance management/BI, and leadership/succession management) as well as by shift to software-as-a-service (SaaS) model.