Eightfold AI was founded in 2016 by Ashutosh Garg and Varun Kacholia. In 2020, The Wall Street Journal reported that executives are "eyeing an eventual initial public offering." These comments should not be interpreted to mean that the company is formally pursuing or foregoing an IPO.
Eightfold is an AI-powered hiring platform with clients in more than 100 countries. Beyond the initial hiring process, Eightfold's platform helps businesses maximize employee retention rates while also helping current employees find and capitalize on internal promotions and upskilling opportunities. The company has raised more than $410 million in venture capital funding from investors including SoftBank Vision Fund 2, General Catalyst, Capital One Ventures, Foundation Capital, IVP, and Lightspeed Venture Partners. Per a company press release, a $220 million funding round in 2021 increased Eightfold's valuation to more than $2 billion.