Eightfold AI valued at $2 billion after raising $220 million from SoftBank, others

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Mumbai: Talent administration platform Eightfold AI stated it has raised $220 million in a Series E funding spherical led by SoftBank’s Vision Fund II, boosting its valuation to round $2 billion.

The funds shall be used to proceed the expansion and improvement of its AI-powered expertise intelligence platform and increase its rising associate ecosystem. “Additionally, Eightfold AI will use the funds to continue expanding its India operations, investing in the most talented data scientists and engineers in the region,” it stated.

Existing buyers akin to General Catalyst, Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners additionally participated within the spherical. With this the corporate has raised greater than $410 million in whole, and $350 million in simply the previous six months.

“Work is changing, and the workforce is evolving, forcing organisations to become future ready today. The need for personalised reskilling and upskilling programmes has become one of the most critical issues facing the global workforce today, and Eightfold AI is looking to solve this issue at a global scale,” the corporate stated.

“Current HR systems were designed to address issues from a previous era, and they have failed to keep pace with the changing nature of work and the workforce. At Eightfold, we have an unprecedented opportunity, using AI to align the career goals of individuals while simultaneously creating better results for employers,” stated Ashutosh Garg, its founder and chief govt officer.

“Powered by AI and machine learning, Eightfold’s platform provides global enterprises with a single solution for managing the entire talent lifecycle, including hiring, retaining, growing a diverse global workforce,” stated Deep Nishar, senior managing associate, SoftBank Investment Advisers.

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