US-based Startup Eightfold AI gets hold of $ 125 million in Series D to start hiring in India.
Recently conducted Series D round saw San Francisco-based HR tech startup Eightfold AI raises $125 million to boost their hiring process in India. This round's leaders were General Catalyst, who were followed by brands traditions investors Capital One Ventures, IVP, Foundation Capital, and LightSpeed Venture Capital.
Eightfold AI was founded in 2016 by Ashutosh Garg and Varun Kacholia; all the founding members of this venture were experts in machine learning, artificial intelligence, personalization, and enterprise solutions. After its last funding round in 2019-2020, Eightfold witnessed exponential growth and quadrupled its sales within a financial year. The organization plans to use the newly procured funds for AI development of the talent acquisition platform. This development pulls the companies value to $1 billion, and its total funding cost after the results of Series D stands at $180 million.
Eightfold has grown copiously in few years, and has its network spread across 110 countries, has grown beyond 17 industries, and is available in more than 13 languages. Eightfold intends to invest heavily in India to increase its presence in the subcontinent by endorsing a remote-first model for employees.
Eightfold, since its inception, has linked with big players like AirAsia, Bayer, Micron, and Capital One. They desire to leverage their AI expertise by providing the right career for every capable individual in this world. Team Eightfold has dedicated more than four years of their life to developing a one-stop-shop for securing talent across the globe. Eightfold plans on committing high funds for AI development as they desire to provide ideal candidates to all industries across the vertical.
Modern infrastructure and complex machine learning capabilities make it possible for team Eightfold to identify and deliver promising candidates, reach unique hiring goals, and help appraise and retain quality performers.