Eightfold announced today that it has raised a $220M Series E funding round. The funds will be used to continue the rapid growth and development of Eightfold's AI-powered Talent Intelligence Platform and expand its growing partner ecosystem. Since the announcement of Eightfold AI's Series D funding round in October of 2020, the valuation of the organization has more than doubled.
The company notes that "Work is changing and the workforce is evolving, forcing organizations to become future-ready today. The need for personalized reskilling and upskilling programs has become one of the most critical issues facing the global workforce today, and Eightfold AI is uniquely capable of solving this issue at a global scale."
This Series E funding round is led by SoftBank Vision Fund 2* and also includes investors from previous rounds, including General Catalyst, Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners. Total funding raised to date by Eightfold AI is more than $410M, with more than $350M coming in the last several months.
“Instead of searching for a job, a candidate can upload their resume and the system will tell the most relevant job for that candidate in real-time,” explained Garg. “What this does is, it reduces the drop-off rate. And our clients see more applications — and field more diverse applications.
“This has helped businesses almost double their internal mobility,” said Garg, who previously worked at IBM Research, where he filed patents on understanding people behavior, and Google, where he worked on the company’s user personalization efforts."
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