San Fransisco-based HR tech startup Eightfold AI has raised $125 Mn in a Series D funding round to hire talent in India. The round was led by General Catalyst and also includes investors from previous rounds, including Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners.
With the fresh funds, the company plans to expand and scale its AI-powered Talent Intelligence Platform, which manages talent lifecycle. With this infusion, the company’s total funding stands at $180 Mn and it will now be valued at $1 Bn along with a customer base across 110 countries, 17 industries and 13 languages.
The company plans to invest heavily in growing its India presence by adopting a remote-first model for employees.
Founded in 2016 by Ashutosh Garg and Varun Kacholia, Eightfold has more than quadrupled its sales since the last round of equity funding in April 2019. Eightfold AI’s customers include AirAsia, Bayer, Capital One, and Micron.
“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.
Eightfold was founded by a team of experts in machine learning, artificial intelligence, search, personalisation, and enterprise solutions that helps companies to identify promising candidates, reach diversity hiring goals, and retain top performers.