People analytics firm Visier raised $125 million in a Series E funding round, bringing its estimated value to about $1 billion. Visier said it’s the first vendor in the space to reach so high a valuation.
The company is benefitting from what CEO Ryan Wong called an “unprecedented demand for companies to better understand the people within their organizations.”.@Visier hits $1 billion valuation with latest investment from Goldman Sachs. #HR #HRTech Click To Tweet
The funding round was led by Goldman Sachs Asset Management (Actually, according to TechCrunch, Goldman was the sole investor this time around). Visier Chairman John Schwarz said the relationship with Goldman Sachs is based on “the next phase of Visier’s growth.” That, he said, “underscores the fact that people analytics has become mainstream business practice.” He said the investment “is key to establishing Visier as the independent global cloud platform for people related business insights.”
Visier said it will use the funding to extend and accelerate product development and international expansion.
Before this round, Visier had raised $94.5 million, bringing its total funding to $219.5 million. In addition to Goldman Sachs, existing investors include Sorenson Capital, Foundation Capital, Summit Partners and Adams Street Partners.
Visier recently wrapped up an impressive quarter, passing the 8,000 customer mark and signing partnership agreements with Cegid, PeopleFluent, iCIMS and Degreed. As of 2021, the company processes over 12 million employee records in 75 countries, with enterprise customers such as Adobe, BASF, Bridgestone, Electronic Arts, McKesson, Merck KGaA and Uber.
Last year, Visier added technology to make life simpler for third-party developers, and introduced tools focused on employee experience and workforce productivity. The company’s focused much attention on making its ecosystem more attractive to partners, and 15 new partner solutions were announced along with 2020’s summer update.
Essentially, Visier’s platform sits in the middle of a variety of HR solutions, and captures and melds their data to provide employers with a more complete view of the workforce data and where trends might lead.