finance news

Eightfold AI raises $125 million from a Series D investment round

Eightfold AI raises $125 million from a Series D investment round
Eightfold AI raises $125 million from a Series D investment round

Eightfold AI, a US based talent intelligence platform, has reportedly announced that it has closed a Series D investment round, raising over $125 million in the process. The company will use a significant amount of this capital to recruit extraordinary talent within India.

In addition, the company will also leverage these funds to develop and scale its renowned AI-based Talent Intelligence Platform, a one-stop-shop to manage the complete talent lifecycle. Leveraging one platform to address the critical area is directly opposite to the concept of disjointed point solutions, generally found in the talent management space.

Due to the company’s full dedication and innovative vision, it now has a total valuation of $1 billion. The firm also works with its clients in 110 nations, 13 languages, and 17 industries.

As a result of this, the company is well positioned to invest heavily for expanding its presence in India, in part by implementing a remote-first model that offers an ‘all office’ experience to people working from their homes.      

General Catalyst led the investment round while previous investors, Lightspeed Venture Partners, Foundation Capital, IVP, and Capital One Ventures also participated in the funding. Eightfold AI has secured over $180 million through funding rounds to date. Additionally, the talent intelligence platform’s sales have more than quadrupled following its last equity funding round conducted in April 2019.

Micron, Capital One, Bayer, AirAsia, and Tata Communications are some of the prominent customers of the company.

CEO and Founder of Eightfold AI, Ashutosh Garg stated that the company’s mission is to use its AI expertise to provide the correct career for everyone across the globe. The talent intelligence company has worked for the past four years creating a single platform that can be used across all talent lifecycles, surpassing single points solutions completely.

Source credit: https://www.prnewswire.com/in/news-releases/eightfold-ai-raises-125m-series-d-funding-round-to-provide-the-right-career-for-everyone-in-the-world-871371377.html

About the author

Bhushan Tambe

A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.