At a Glance
Retrain.ai, a talent intelligence platform, has secured an additional $7M in funding from current investors. The additional funds will be utilized to expand in the United States, hire more workers, and create new goods.
Retrain.ai, a talent intelligence platform, has secured additional funding of $7 million from its investors Square Peg, Hetz Ventures, TechAviv, .406 Ventures, and Schusterman Family Investments. Splunk Ventures has also been added as a strategic investor.
The additional funds will be utilized to expand in the United States, hire new personnel, and create new products. With this latest round of investment, the company has now raised a total of $20 million.
The talent intelligence platform Retrain.ai has received an extra $7 million in investment from its backers., enabling diversity efforts and assisting employees and job seekers in managing their careers.
According to retrain.ai, it assists businesses with future labor strategies by “analyzing millions of data sources to understand the demand and supply of skill sets.”
We are thrilled to have Splunk Ventures join us on this exciting journey as we use the power of data to solve the widening skills gap in the global labor markets.Shay David, co-founder and CEO of retrain.ai
A report by the World Economic Forum states that by 2025, automation would eliminate 85 million jobs while generating 97 million new ones. Although this may appear to be wonderful news, the harsh fact is that millions of people will need to retrain for future employment.
Here is where retrain.ai comes into the picture. Several businesses, including retrain.ai, are tackling employee skill gaps by focusing on talent development, neuroscience-based evaluations, and staffing prediction tools. Pymetrics (which raised $56.6 million), Eightfold (which raised $396.8 million), and EmPath (which raised $1 million) are among them.