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Technology

Eightfold AI raises $220M led by SoftBank Vision Fund 2

PUNJABNEWSLINE | June 10, 2021 05:46 PM

NEW DELHI: Artificial Intelligence-powered talent intelligence platform Eightfold AI on Thursday announced that it has raised a $220 million in its Series E funding round led by SoftBanks Vision Fund 2.

The company has raised more than $410 million to date, with $350 million coming in the last six months.

Eightfold AI said that the funds will be used to continue the rapid growth and development of its talent intelligence platform and expand its growing partner ecosystem.

"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," said Ashutosh Garg, Founder and CEO at Eightfold.

"At Eightfold, we have an unprecedented opportunity, using AI to align the career goals of individuals while simultaneously creating better results for employers," Garg added.

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.

The Series E funding round also saw investments from General Catalyst, Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners.

"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, and growing a diverse global workforce," said Deep Nishar, Senior Managing Partner at SoftBank Investment Advisers.

 

 
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