Eightfold, the US-based creator of a smart digital recruitment platform, raised $125m in series D funding from investors including financial services firm Capital One yesterday at a $1bn valuation.
Venture capital firm General Catalyst led the round, which also featured Foundation Capital, IVP and Lightspeed Venture Partners, while Capital One took part through corporate venturing unit Capital One Ventures.
Founded in 2016, Eightfold has created a software platform that applies artificial intelligence to a range of public and human relations data points to help organisations hire and develop talent more effectively.
Ashutosh Garg, Eightfold’s founder and chief executive, said: “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.”
Eightfold said it has now received $180m in funding altogether, including $18m in an April 2018 series B round co-led by Foundation Capital and Lightspeed. The latter had led a $5.7m series A round for the company the previous year.
Both series B participants returned for a $28m series C round in April 2019 that was led by IVP. Eightfold said it has quadrupled its sales since that round.
