What can you do with Headcount Analytics?
- Analyze Global Workforce Trends
Track employee growth by country, state, metro, role, level, and department. - Evaluate M&A Impact in Depth
Assess organizational changes before and after mergers, identify integration risks, and uncover potential acquisition targets. - Monitor Workforce Trends Over Time
Monthly data updated since 2010, covering hiring, layoffs, tenure, churn, and talent flow by role and level, including previous and next employer tracking to see where talent moves across companies. - Benchmark & Spot Strategic Shifts
Compare workforce composition across industries and geographies to spot early signals of company growth, identify acquisition targets, and support buy-side and sell-side deal sourcing.
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Watch our on-demand webinar to see the Private Markets Tearsheet Blueprint, built in S&P Capital IQ Workbench and accessible via S&P Capital IQ Pro. See how to instantly turn complex funding, investor, and company data into clear, actionable views, with no coding required.
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Dashboard: Spot Growth Signals in Private Companies
See how workforce data can reveal growth patterns in a real-world example looking at AI startups founded between 2020–2024 with over 10% YoY growth.
Who is Headcount Analytics for?
Explore the examples below:
Headcount Analytics - Example Data Points
1. Spot Acqui-hires
In March 2022, Google formally acquired Raxium, a startup specializing in augmented and virtual reality technologies (AR).
What the headcount data shows: Around the time of acquisition, Raxium’s workforce peaked at just under 50 employees, before settling to a stable base of 30–33 over the following years. That trajectory is consistent with a talent integration play—key specialists migrating into Google’s hardware division while the company maintained only a lean shell.
The team composition was heavily weighted toward R&D, with virtually no sales, marketing, or customer-facing roles. This strongly suggests that Raxium was not a company building a product for scale, but a lab-style research group assembled around a specific display technology.
By acquiring it, Google compressed years of specialist hiring into a single transaction, redeploying scarce technical expertise into its own AR hardware roadmap.
2. Track Company Growth Over Time
This example using Madison Logic shows how the dataset can shed light on strategic workforce dynamics in companies under private equity ownership. According to the data, Madison Logic saw significant changes in its employee numbers following its acquisitions.
Initially acquired by Clarion in December 2016, the company experienced substantial growth in its workforce, expanding from approximately 100 to nearly 300 employees under their ownership.
The dynamics shifted after BC Partners acquired Madison Logic in December 2022, leading to a significant reduction in headcount. These fluctuations in employee numbers illustrate the strategic adjustments and operational shifts typical of companies under PE ownership.
3. Understand Organizational Changes
We can delve deeper into Madison Logic's organizational changes by looking at role types and levels.
The company significantly expanded its manager-level positions starting in September 2019, which marked a period of substantial growth (blue line).
Referring back to October 1, 2019, when the company had 120 employees, we observe the pivotal shift towards prioritizing the manager function. During the same period, from September 2019 onwards, the sales function emerged as the next major growth area following the expansion of the management layer, albeit lagging behind manager growth by a few months (orange line).
4. Analyze Geographic Distribution and Expansion
- SpaceX made headlines with its plans to shift operations from California to Texas. Using Headcount Analytics, we can provide a clear picture of how these moves are unfolding. The dataset offers a unique view into the geographic distribution and growth dynamics of company employees. By using metro distribution data, we can highlight strategic moves and growth patterns within companies.
- Despite talks of moving their headquarters to Austin, Texas, 64% of SpaceX's U.S. employees are still based in California. However, Texas shows a significant growth rate, nearing 20%, making it the third largest state for SpaceX employees. With only 807 employees currently in Texas, , and 4673 in California, it is unlikely that Texas will surpass California in employee numbers anytime soon.
- Focusing on Austin specifically, 173 of the 807 Texas-based employees are located there. Austin has the highest employee growth rate across the U.S., reflecting SpaceX's strategic focus on expanding its presence in this metro area. This geographic employee data helps validate media reports and provides a clear picture of where companies like SpaceX are investing in talent and infrastructure.
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