Eightfold AI, a startup that uses deep learning and artificial intelligence to help companies find, recruit and retain workers, said Thursday it has raised $ 220 million in a new round as it seeks to accelerate his growth.
SoftBank Vision Fund 2 led the five-year startup’s Series E, which is now valued at $ 2.1 billion, up from $ 1 billion in Series E last October, said Ashutosh Garg, founder and CEO of ‘Eightfold AI, to TechCrunch in an interview.
Existing investors General Catalyst, Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners have also participated in the new round, which brings the startup’s fundraising to more than $ 410 million.
The Mountain View-based startup provides its clients with a talent acquisition platform that helps them identify suitable candidates and import and filter thousands of resumes. One of the missions of Eightfold AI is to help companies reduce bias in their hiring, in order to hide the personal information of candidates during the evaluation.
“Instead of looking for a job, a candidate can upload their resume and the system will tell them which job is most relevant to that candidate in real time,” Garg explained. “What it does is it reduces the drop rate. And our customers are seeing more applications and implementing more diverse applications.
The startup, which has accumulated clients in over 100 countries and offers its platform in more than a dozen languages, also enables employers to deploy the Eightfold platform internally and help employees discover employment opportunities. within their organization. “It has helped companies almost double their internal mobility,” said Garg, who previously worked at Google.
“Powered by AI and machine learning, Eightfold’s platform provides global businesses with a single solution to manage the entire talent lifecycle, including hiring, retention and growth. ‘a diverse global workforce,’ said Deep Nishar, senior managing partner at SoftBank Investment Advisers and who previously worked for nearly six years at LinkedIn. “We are excited to partner with Ashutosh and the Eightfold team to support their ambition to transform the way companies manage talent and the way people build their careers.
This is a developing story. More soon…