Eightfold AI, is leading provider of Talent Intelligence Platform™ which empowers enterprises to turn talent management into a competitive advantage, recently announced that they have secured a $220M Series E funding round led by SoftBank Vision fund 2 along with participating investors from previous rounds such as General Catalyst, Capital One Ventures, Foundation Capital, IVP, and Lightspeed Venture Partners. Eightfold has raised more than $410 million.
This capital will be used in the development and growth of Eightfold’s AI-powered Talent Intelligence Platform. It will further accelerate their growing partner ecosystem. Eightfold is the first AI Talent Intelligence Platform which doubled its valuation in six months to more than $2 billion.
Ashutosh Garg, Founder & CEO at Eightfold, said, “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.”
According to Eightfold AI, their unique Talent Intelligence Platform is the only way to solve the issues of failed HR systems which is to develop a deep understanding of the roles and skills of each employee, candidate, contractor, and citizen.
Deep Nishar, the Senior Managing Partner at SoftBank Investment Advisers, commented, “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. We are pleased to partner with Ashutosh and the Eightfold team to support their ambition of transforming how enterprises manage talent and how people build their careers.”