At a Glance
Visier, a cloud-based analytics platform, has secured $125 million in a Series E investment round, valuing the company at $1 billion and has turned unicorn. Visier is a Canadian company that has created a big-data engine that can consume and analyze data from various HR and related apps. It offers a big-data engine it developed that can connect to any of those apps, absorb the data they contain, and match it up to provide current-state representations and increasingly predictive insights.
Visier, a cloud-based analytics platform, has raised $125 million in a Series E funding round at a valuation of $1 billion. With this round, led by Goldman Sachs Asset Management, Visier turns unicorn. Other participants include Summit Partners, Sorenson Capital, Adams Street Partners, and Foundation Capital.
Visier is a Canadian business that has developed a big-data engine that ingests and analyses data from many human resources and associated apps to create more accurate profiles of individuals and departments, essential when evaluating pay, promotions, and more significant hiring expenditures.
According to John Schwarz, chairman and co-founder, the problem is that while everyone utilizes HR management systems like Workday, Success Factors, a variety of payroll software, and others to track a lot of the fundamentals of how an employee works day to day or month to month, a lot of that data remains in silos, making it difficult to obtain a “360” picture based on it all. And, that’s before a company considers how to compare that data to data from outside the company.
Visier’s solution is a big-data engine it has created that can connect to any of those applications, ingest the data they contain, and match it up to offer representations of the current state of things, as well as increasingly predictive insights. Typically, this is done for HR departments, but it may also be done for managers, financial departments, and employees.
Mr. Schwarz added, “In the future, we want to help everyone understand the policy today, which impacts the outcome tomorrow.”
There are no big-data players, according to Visier, who want to be big data integrators from other platforms rather than primary-source repositories of information. In most situations, the “competition” will be custom-built implementations developed by systems integrators utilizing Tableau or something close but not identical to what it offers in terms of real-time analytics.says Mr. Schwarz.
He said it’s all about combining data from different sources, as Workday attempted to develop something similar to Visier’s offering. Still, more than half of Visier’s clients also use Workday. This indicates that whatever is there is not quite doing the trick.
Holger Staude, a managing director within Goldman Sachs Asset Management, “Access to information about employees and the health of an organization has never been more critical. We’re excited to partner with Visier at this pivotal moment and support the company’s continued growth.”
Visier currently handles personnel information for 8,000 clients, including Adobe, BASF, Bridgestone, Electronic Arts, McKesson, Merck KGaA, and Uber, which combined represent 12 million individual users in 75 countries.