HR tech startup Eightfold AI raised US $125 million

Eightfold AI is a San Fransisco based HR tech startup. Recently it has raised $125 Mn in a Series D funding round. The main aim of this round was to hire talent in India. The round was accompanied by General Catalyst and also consists of other major investors from previous rounds like Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners.

Eightfold was established by Ashutosh Garg and Varun Kacholia in 2016. The company has more than quadrupled its sales since the last round of funding in April 2019. AirAsia, Bayer, Capital One, and Micron are some of the notable customers of Eightfold.

“Our mission is to leverage our expertise in AI to provide the right career for everyone in the world. The Eightfold team has spent the last four years developing a single platform servicing all talent lifecycle needs, bypassing single-point solutions entirely. This is the future of our industry and has already made Eightfold the go-to provider for industry leaders in every sector. We are grateful to our investors, customers, and partners for sharing in our vision, especially at a time when the immediate focus is on the well-being of the global workforce,” said Ashutosh Garg, Founder and CEO of Eightfold AI.

The fresh funds would be utilized in expanding the company and scaling its AI-powered Talent Intelligence Platform. This Platform manages talent lifecycle. With these funds totalled, the company stands at $180 Mn and it will now be valued at $1 Billion with the help of customer bases across 110 countries, 17 industries and 13 languages.

A small reason why the company is so successful is due to its Data protection policy. The details of the policy are clearly mentioned on their official website. The company plans to invest gradually in increasing its presences in India by utilising a remote-first model for employees.

Eightfold was founded with the collective efforts of a team consisting of experts in machine learning, artificial intelligence, search, personalisation, and enterprise resolutions that benefit companies to identify promising applicants, reach variety hiring goals, and employ top performers.