SoftBank Vision Fund, HR systems

Mumbai: Eightfold AI has raised $220 million in Series E funding round led by SoftBank Vision Fund 2. The funds will be used to continue the development and growth of Eightfold’s AI-backed Talent Intelligence Platform and expand its partner ecosystem.

Eightfold AI will also use the funds to continue expanding its India operations, investing in talented data scientists and engineers in the region.

The SoftBank Vision Fund 2 led Series E funding round also includes investors from previous rounds, including General Catalyst, Capital One Ventures, Foundation Capital, IVP and Lightspeed Venture Partners.

To date, Eightfold AI has raised a total funding of more than $410 million out of which, $350 million were raised in the last six months.

“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,” said Ashutosh Garg, Founder and CEO – Eightfold AI.

“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,” added Garg.

“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,” said Deep Nishar, Senior Managing Partner – SoftBank Investment Advisers.

“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,” added Nishar.

(Image source – Reuters)


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