Eightfold AI today announced that it has raised a $220Mn Series E funding round, led by SoftBank’s Vision Fund 2. 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. 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.
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 $350M coming in the last six months.
Ashutosh Garg, Founder & CEO at Eightfold 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. Transforming HR and global talent further unlocks trillions of dollars worth of human potential. SoftBank shares our bold vision, and we are excited to welcome them as our partner.”
Current HR systems have failed to keep up with the pace of innovation needed to support forward-leaning businesses. The only way to solve this at scale is by building a deep understanding of all talent: the roles and skills of every employee, candidate, contractor, and citizen, as envisaged by Eightfold AI’s Talent Intelligence Platform.
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 aiming to solve this issue on a global scale. With this significant funding, how Eightfold’s platform further bolsters its ambition of transforming how enterprises manage talent and how people build their careers will be interesting to watch out for.