- Eightfold AI announced that it has raised $125 million in Series D funding. These are the details.
Eightfold AI announced that it has raised $125 million in Series D funding. This round of funding will be used for expanding and scaling Eightfold’s leading AI-powered Talent Intelligence Platform, which is a single solution for managing the entire talent lifecycle.
The funds will be used to expand and scale Eightfold’s AI-powered Talent Intelligence Platform, a single solution for managing the entire talent lifecycle. Just using a single platform to address this critical area stands in direct contrast to the disjointed point solutions commonly found in the talent management space. And as a direct result of Eightfold’s innovative vision and dedication, the company is now valued at $1 billion and works with customers across 110 countries, 17 industries, and 13 languages.
This round of funding is led by General Catalyst and also includes investors from previous rounds, including Capital One Ventures, Foundation Capital, IVP, and Lightspeed Venture Partners. The total funding raised to date by Eightfold AI is more than $180 million. And Eightfold has more than quadrupled its sales since the last round of equity funding in April 2019. Eightfold AI’s customers include AirAsia, Bayer, Capital One, and Micron.
Eightfold AI’s single platform for the entire talent lifecycle brings together billions of anonymized data points, algorithms, and domain expertise required to make a reliable and scalable impact for enterprise-scale organizations. And the patented Talent Intelligence Platform uses deep learning AI on existing public and legacy HCM data to transform how companies acquire, develop and advance talent, and achieve D&I goals.
Eightfold customers have achieved significant results, including a 49% increase in the number of employees finding their next role within their current company, a 58% increase in employees offered other jobs within the same company after their role had been eliminated, and 60% more highly qualified candidates applying to open jobs.
KEY QUOTES:
“Our mission is to leverage our expertise in AI to provide the right career for everyone in the world. The Eightfold team has spent the last four years developing a single platform servicing all talent lifecycle needs, bypassing single point solutions entirely. This is the future of our industry, and has already made Eightfold the go-to provider for industry leaders in every sector. We are grateful to our investors, customers and partners for sharing in our vision, especially at a time when the immediate focus is on the well-being of the global workforce.”
— Ashutosh Garg, Founder & CEO at Eightfold
“Eightfold has built a true intelligence-driven platform for talent acquisition and optimization for the enterprise. What’s been most impressive is their approach to partnering with companies to fundamentally understand their needs and then applying tech against those needs to create a scalable, efficient approach to talent management. Theirs is an industry-agnostic approach that has the potential to rapidly evolve how companies meet and retain their best people.”
— Quentin Clark, Managing Director at General Catalyst
