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Eightfold.ai (Company)

Eightfold.ai (Company)

AI software platform for recruiting and talent management

Eightfold.ai is a Mountain View, CA-based company developing artificial intelligence (AI) software for employee acquisition and talent management. Formerly known as VolkScience, Eightfold.ai developed a software called the Talent Intelligence PlatformTM, an AI-based platform that leverages Search Engine Optimization (SEO) and resumes for the hiring process and employee retention.

Talent Intelligence Platform

The Talent Intelligence PlatformTM (TIP) has four functions used from the point of applying through to employee retention.

Talent Experience

The talent experience tool is an application portal that assesses submitted applicant resumes and matches the applicants with jobs matching their prior relevant experience through Search Engine Optimization (SEO). Eightfold uses its AI to predict whether an applicant is suited for a job based on their experience compared to other submitted resumes. Users can view personal metrics for each position they apply to.

Talent Diversity
The Talent Intelligence Platform's Bias Dashboard

The talent diversity tool offers a "candidate masking" feature to remove bias from the hiring process. Applicants can make personal characteristics, such as age, gender, ethnicity, and geographic location, private to hiring staff. Additionally, hiring staff can view metrics that identify where underrepresented candidates such as women, veterans, people of color, and more were removed from the hiring process, allowing companies the opportunity to take corrective action. This feature is shown in a dashboard format.

Talent Acquisition

The talent acquisition tool is powered by AI machine learning and is used to filter applications and resumes. The AI is intended to narrow down applicant results based on candidate qualifications for hiring staff. Additionally, the tool offers the following features:

  • ATS and HRIS integrations - for rediscovering talent from within.
  • Skills taxonomy
  • Job calibration (mentioned above)
  • Talent Network
  • Personalized CRM - for sending emails to potential candidates.
  • Event recruiting
  • Talent analytics
  • Automated chatbot - administers the job application as a conversation.
Talent Management
Talent Intelligence Platform - Talent Management tool

The talent management tool was developed to help employers retain employees through the following services:

  • Career planning
  • View open jobs within the company
  • Create personal profiles with resume and skills

Additionally, the talent management tool has an AI that assesses potential successors for positions before they become available. The AI also offers insights based on current employee resumes and makes suggestions accordingly.

Timeline

October 28, 2020
Eightfold AI announced that it has raised $125 million in Series D funding and has a $1 billion valuation.

This round of funding is led by General Catalyst and includes investors from previous rounds, including Capital One Ventures, Foundation Capital, IVP, and Lightspeed Venture Partners.

October 2020
Eightfold.ai raises a $125,000,000 series D round from Capital One Growth Ventures , Foundation Capital, General Catalyst, IVP and Lightspeed Venture Partners.
September 22, 2020
Eightfold.ai Wins the U.S. Department of Labor Veterans' Employment Challenge
March 31, 2020
Eightfold.ai, the first AI-powered solution for enterprise talent needs, announced Eightfold Virtual Event Recruiting, a solution for organizations to find, engage, and recruit talent.

"...We are proud to launch a virtual hiring solution to enable recruiting events to continue and, we hope, to help ease some of the anxiety and pain that candidates are feeling. We never imagined COVID-19, but we can help to ensure candidates are still contacted, encouraged, and hired."

April 24, 2019
Eightfold.ai Secures $28 Million

Eightfold.ai announced it has added IVP to its list of investors in raising $28 million in a Series C financing. The round, joined by Foundation Capital and Lightspeed Ventures. This brings Eightfold.ai's total funding to $55 million.

April 2019
Eightfold.ai raises a $28,000,000 series C round from Foundation Capital.
April 2018
Eightfold.ai raises a $18,000,000 series B round from Foundation Capital.
September 2016
Eightfold.ai raises a $5,800,000 series A round.
June 13, 2016
Eightfold.ai was founded by Ashutosh Garg and Varun Kacholia.

Funding Rounds

Products

Patents

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