Existing investors including Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners also participated in the latest round, taking the Noida-based startup’s total funding to over $180 million to date.
The latest funding also marks Eightfold AI’s entry into the startup unicorn club.
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. The company currently works 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,” 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.”
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.
The company claims to have more than quadrupled its sales since the last round of equity funding in April 2019 and boasts of a customers base that include Tata Communications, AirAsia, Bayer, Capital One and Micron.
“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. “Theirs is an industry-agnostic approach that has the potential to rapidly evolve how companies meet and retain their best people.”