[Funding alert] Eightfold.ai enters unicorn club; raises $125M in Series D round led by General Catalyst
Talent intelligence platform.ai on Monday said it has raised $125 million in its latest funding round. With this, the Noida-based startup is now valued at $1 billion, making it the latest entrant to the startup unicorn club.
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 startup said.
So far, the AI-powered talent intelligence platform — that uses a single solution to manage the entire talent lifecycle — has raised over $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 includes Tata Communications, AirAsia, Bayer, Capital One, and Micron.
Speaking on the investment, Ashutosh Garg, Founder and CEO, Eightfold.ai, said,
"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.
"Our mission is to leverage our expertise in AI to provide the right career for everyone in the world," he added.
Set up by Ashutosh four-years-ago, Eightfold's single platform for the entire talent lifecycle brings together billions of anonymised data points, algorithms, and domain expertise required to make a reliable, scalable impact for enterprise-scale organisations.
The startup has built an intelligence-driven platform for talent acquisition and optimisation 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.
Eightfold delivers a talent intelligence platform, which is an effective way for organisations to retain top performers, upskill, and reskill the workforce, recruit top talent efficiently, and reach diversity goals.