MOUNTAIN VIEW — Eightfold AI has raised a $125 million Series D funding round. 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.
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. Eightfold is now valued at $1 billion and works with customers across 110 countries, 17 industries and 13 languages.
The funding round is led by General Catalyst and also includes investors from previous rounds, including Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners. Total funding raised to date by Eightfold AI is more than $180 million. 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.
“Our mission is to leverage our expertise in AI to provide the right career for everyone in the world,” said Ashutosh Garg, Founder & CEO at Eightfold. “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.”
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, scalable impact for enterprise-scale organizations. 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. Seeking to evolve their workforce into a competitive advantage, Eightfold customers have achieved significant results, including: a 49 percent increase in the number of employees finding their next role within their current company, a 58 percent increase in employees offered other jobs within the same company after their role had been eliminated, and 60 percent more highly qualified candidates applying to open jobs.