Eightfold AI, the US-based developer of an online platform that helps companies hire and retain staff, has raised $220m in a series E round led by internet and telecommunications group SoftBank’s Vision Fund 2.
Capital One Ventures, the corporate venturing arm of financial services firm Capital One, also took part in the round as did venture capital firms General Catalyst, Foundation Capital, IVP, Lightspeed Venture Partners.
Eightfold AI, formerly known as Volkscience, operates an online platform that leverages artificial intelligence (AI) technology to help businesses retain their best-performing employees, manage recruitment and reskill staff.
The round valued the company at $2.1bn, according to a report by TechCrunch citing Ashutosh Garg, founder and CEO of Eightfold. It will use the proceeds of the round to further develop its technology platform and to seek out new partnerships.
Eightfold has raised over $410m of total funding since it was founded in 2016. General Catalyst led a $125m series D round in October 2020, which was backed by Capital One Ventures, Foundation Capital, IVP and Lightspeed Ventures.
In April 2019, the company raised $28m in a series C round led by IVP investing together with Foundation Capital and Lightspeed Ventures. The latter two co-led an $18m series B round for Eightfold in 2018, after Lightspeed Ventures had led its $5.7m series A round the year before.