Eightfold AI, an HR tech start-up, enters the unicorn status club after raising USD 125 million in a Series D round. The funding event was led by General Catalyst and helped pushed the company’s valuation to USD 1 billion.
As per a statement, the funding event also witnessed existing investors such as Foundation Capital, Capital One Ventures, IVP, and Lightspeed Venture Partners, which boosted the company’s total raised amount to an impressive USD 180 million.
Established in 2016, Eightfold offers businesses a deep learning-driven platform that retains, upskills, and reskills their workforce. It also empowers enterprises to recruit new talent and achieve diversity goals easily.
As per a statement, Eightfold plans to spend the fresh capital to financially support its hiring projects in India to strengthen its presence in the country. The company also plans to use some part of the funds to expand its artificial intelligence-powered talent management platform.
Vinodh Ravindranath, Head of AI at Eightfold, said, “This investment ensures that the most talented, intelligent, and ambitious engineers and data scientists in India will have a place to continue their growth here at Eightfold.”
On the business front, Eightfold currently has a client base across 110 countries and 17 industries across the globe. A few names in its customer list are Tata Communications, Capital One, Bayer, AirAsia, and Micron.
The company also claims to have multiplied its sales by more than four since the last round of funding in April last year.