Home Breaking News Eightfold AI raises US$ 125M in Series D round

Eightfold AI raises US$ 125M in Series D round

Eightfold AI raises US$ 125M in Series D round
The Series D funding round was led by General Catalyst.

US-based firm Eightfold AI raised US$ 125M in Series D funding round on 27 October 2020. The total funding amount raised by the company stands at US$ 176.8M.

The Series D funding round was led by General Catalyst. Other participants include investors from previous rounds, including Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners. Eightfold claims that it has more than quadrupled its sales since the last round of equity funding in April 2019.

The funds raised will be utilized to expand and scale Eightfold’s leading AI-powered Talent Intelligence Platform, a single solution for managing the entire talent lifecycle. This single platform to address this critical area is in direct contrast to the disjointed point solutions commonly found in the talent management space. Due to Eightfold’s innovative vision and creativity, the company is now valued at US$ 1 billion and works with customers across 110 countries, 17 industries and 13 languages.

About Eightfold

eightfold AI

Founded in 2016 by Ashutosh Garg and Varun Kacholia, Eightfold AI delivers the Talent Intelligence Platform. This platform aims to provide the most effective way for organizations to retain top performers, upskill and reskill the workforce, recruit top talent efficiently, and reach diversity goals. Eightfold AI’s deep learning artificial intelligence platform empowers enterprises to turn talent management into a competitive advantage. It is headquartered in Mountview, California.

“Our mission is to leverage our expertise in AI to provide the right career for everyone in the world. 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,” said Ashutosh Garg, Founder & CEO at Eightfold.

Eightfold’s 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.

About the Founders

·       Ashutosh Garg (CEO & Co-Founder)

eightfold AI

With 6000+ research citations, 50+ patents, 35+ peer-reviewed research publications, and the outstanding PhD thesis award from UIUC for his PhD thesis in Machine Learning, Ashutosh Garg is one of the world’s experts in machine learning. He has also co-authored the book “What’s Next for You – The Eightfold Path To Transforming The Way We Hire And Manage Talent”.

·   Varun Kacholia (CTO and Co-Founder)

eightfold AI

Varun Kacholia is pretty well-known when it comes to search, ranking and machine-learning. Prior to founding Eightfold, Varun led the News Feed team at Facebook and the YouTube Search and Recommendations team at Google.

What Investors have to say

“Eightfold has built a true intelligence-driven platform for talent acquisition and optimization for the enterprise. 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. Theirs is an industry-agnostic approach that has the potential to rapidly evolve how companies meet and retain their best people,” said Quentin Clark, Managing Director at General Catalyst.

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Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

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