Eightfold AI has raised $125 million in Series D funding for a valuation of $1 billion, led by General Catalyst. Other investors participating in the round were Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners. A significant amount of this investment will be committed to hiring exceptional talent in India. The fund will additionally be used to expand and scale Eightfold’s leading AI-powered Talent Intelligence Platform, which is a single solution for managing the entire talent lifecycle.
“Our mission is to leverage our expertise in AI to provide the right career for everyone in the world,” said Ashutosh Garg, Founder & CEO at Eightfold. “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.”
The current funding bring the total fund raised by the company to over $180 million from various investors. The company has more than quadrupled its sales since the last round of funding in April 2019. Today, Eightfold has customers in more than 110 countries, 17 industries and 13 languages. Some of its clients include Tata Communications, AirAsia, Bayer and others.
“The opportunity to build a successful AI-powered organization that is simultaneously innovative and essential to the global community is immense,” said Vinodh Ravindranath, Head of Artificial Intelligence at Eightfold AI. “India has a long history of development and engineering accomplishments, and we aim to harness that talent to its fullest effect. This investment ensures that the most talented, intelligence and ambitious engineers and data scientists in India will have a place to continue their growth here at Eightfold.”
“Eightfold has built a true intelligence-driven platform for talent acquisition and optimization for the enterprise. What's been most impressive is their approach to partnering with companies to fundamentally understand their needs and then applying tech against those needs to create a scalable, efficient approach to talent management,” said Quentin Clark, Managing Director at General Catalyst. “Theirs is an industry-agnostic approach that has the potential to rapidly evolve how companies meet and retain their best people.”