Eightfold AI raises $125m in latest funding round
Mumbai: Talent intelligence platform Eightfold AI on Monday said it has raised $125 million in its latest funding round, valuing the Noida-based company at $1 billion.
The series D round was led by General Catalyst, and existing investors such as Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners, the company said. So far, the AI-powered talent intelligence platform that uses a single solution to manage the entire talent lifecycle, has raised more than $180 million. Eightfold has more than quadrupled its sales since the last round of equity funding in April 2019 and boasts of a customers' base that include Tata Communications, AirAsia, Bayer, Capital One and Micron. "A significant portion of this investment will be used for hiring talent. Additionally, the funds will also be used to expand and scale our leading platform.
Due to our innovative vision and dedication we are now valued at $1 billion and work with customers across 110 countries, 17 industries and 13 languages," the company said in a statement. "Our mission is to leverage our expertise in AI to provide the right career for everyone in the world," said Ashutosh Garg, the founder-chief executive, who set up the company four years ago. Eightfold's single platform for the entire talent lifecycle brings together billions of anonymized data points, algorithms and domain expertise required to make a reliable, scalable impact for enterprise-scale organizations.
"Eightfold has built an intelligence-driven platform for talent acquisition and optimization for enterprises. 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," said Quentin Clark, managing director at General Catalyst.