Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Eightfold
Global investment

Startup Eightfold received an investment from SoftBank for the development of personnel search technology

07.03.2022
2 min read

Eightfold is valued at $2.1 billion

The startup Eightfold received $220 million in funding in its latest round. Thanks to its main investor, SoftBank, it is now valued at $2.1 billion, up from $1 billion last year.
Eightfold is a Mountain View startup that uses artificial intelligence technology. The service is aimed at finding, hiring and retaining employees; the program imports and automatically selects the right one from a large number of resumes. The founders of the company want to reduce the likelihood of bias in hiring, to this end the algorithm hides personal information about the candidate, leaving only his professional skills, experience and education.
Eightfold helps not only employers, but also candidates. A job seeker can upload his resume, and the program will give him the best vacancies for the given parameters. According to the developers, this selection scheme will reduce the number of rejections and increase the offer.
The application is used in more than 100 countries and is adapted for many languages. The service searches for candidates or employers within the country, it is also possible to adjust the selection in other states.
Using Eightfold’s product has already yielded positive results for a number of companies. Business owners note that the service has helped almost twofold increase internal mobility and make the recruitment process as effective as possible.
Eightfold notes that despite the variety of sources for personnel search, the selection of qualified personnel remains a pressing problem for many companies. The service takes on a tremendous amount of work – it analyzes data from various resources and filters them. This also includes employer sales and client management functions.Eightfold has received funding from SoftBankEightfold conducts social projects designed for different categories of people. The company works with people who have applied for unemployment insurance. The startup also helps with the right resume and job search. In addition, Eightfold has a project to support veterans, so they can apply their skills and find a decent job.
The platform is based on artificial intelligence machine learning technology, so the functionality is self-improving and remembers the user’s preferences.
According to Eightfold’s investors, the startup has high potential and takes on the full cycle of finding and supporting job seekers. An important point is the retention of good specialists and their advancement on the career ladder. To this end, various programs, incentives, and projects are conducted.
Thanks to the investments made, the company plans to expand the range of products provided, the audience of clients, and to enter new markets.

Tags: Global investment
0
Previous Post Green finance: prospects for Russia Next Post Special purpose acquisition company or SPAC: features of a shell company

You Might Also Like

solar power plant-2
Global investment
The largest solar power plant will soon appear in the UAE
18.10.2021
Berkshire Hathaway
Global investment
Berkshire Hathaway Holding acquires stake in HP Corporation
13.07.2022
Pinduoduo
Global investment
Chinese marketplace Pinduoduo launches online store in the U.S.
27.11.2022
Ford invests
Global investment
American concern Ford invests in plant construction
16.05.2022
Saudi Arabia and Egypt NEOM city
Global investment
Saudi Arabia and Egypt to build the megacity of the future
26.01.2024
reduction in investment
Global investment
German business expects reduction in investment: survey
26.05.2022

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Popular Posts

  • Li Ka Shing: How can success be achieved without money and education?
  • Skolkovo analysts: the Russian energy market is suffering losses
  • Ingeborg Mootz: a woman who became a stock player at the age of 75
  • Analysts: Egypt’s economy to continue falling in 2023
  • Businessman Chuck Feeney: the man who gave the world Duty Free
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram

© 2024 CHASLAU KONIUKH. ALL RIGHTS RESERVED. Expert in marketing and project management, international investments, financial analyst.

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics