Talent intelligence platform retrain.ai closed a fresh $14 million financing round led by AI-focused investment firm Radical Ventures. The infusion brings the company’s total funding to $34 million.
“Radical’s investment will help accelerate immediate value, with proceeds fueling retrain.ai’s growth into international markets where we will continue to pursue our vision of helping millions of people find their place in the job market by gaining 21st century skills,” said co-founder and CEO Shay David..@Retrain.ai Closes $14 Million for Talent Intelligence Solution #HR #HRTech Click To Tweet
Radical Ventures is an early-stage venture capital firm that focuses its investments on businesses that use artificial intelligence to “disrupt” different market segments.
The firm sees retrain.ai as “helping businesses navigate an economy and workforce in the midst of a generational transition,” said Managing Partner Jordan Jacobs. By leveraging AI, retrain.ai aims to reduce time-to-hire and increase employee performance and retention, he said.
In addition to Radical Ventures, retrain.ai’s investors include Square Peg, Hetz Ventures, TechAviv, .406 Ventures, Schusterman Family Investments and Splunk Ventures.
Data and Integrations
Founded in March 2020, retrain.ai says its platform analyzes real-time labor market data against local company data, helping employers acquire, develop and retain diverse talent throughout the employee lifecycle. The platform is designed to integrate with each customer’s HCM, ATS, talent acquisition and L&D solutions so users can leverage their internal data.
The company plans to use its new funding to accelerate growth and expand operations. According to media reports, it currently has about 75 employees and “dozens” of customers, though it declined to provide specifics.
According to TechCrunch, retrain.ai’s platform looks at which jobs are being advertised, which jobs are going down in popularity and detects early warning signs about where new jobs are going to appear. This, the technology-business website said, can help large organizations and governments form policies based on the data retrain.ai’s platform generates.