One Model Secures $41M to Bring Data Science-Powered Insights to HR
Funding Round Info:
One Model, a platform powered by AI that aids employers in making well-informed choices concerning recruitment, hiring, promotions, layoffs, and workplace planning, disclosed securing $41 million in a funding round led by Riverwood Capital. The injected capital will be deployed to bolster the company's expansion efforts, with a specific focus on advancing technology, product development, customer success, and go-to-market strategies.
About One Model:
One Model operates as a "people analytics" platform - a system crafted to gather and apply organizational and talent data to enhance business outcomes, at least in theory. The founding team of One Model, including Butler, comes from Inform, a people analytics service that SuccessFactors, now SAP SuccessFactors, acquired in 2010. After the acquisition, they noticed a growing disparity between what customers demanded to do with their people data and the available solutions in the market. The growth in this field shows no signs of deceleration, with projections suggesting that the market for people analytics software will surge from $2.58 billion in 2022 to $7.67 billion by 2031.
About Riverwood Capital:
Riverwood Capital invests in high-growth companies in the technology and technology-enabled industries. Riverwood offers a unique combination of operational, strategic, technology, and financial insight to portfolio companies that typically need growth capital and expertise to scale on a global basis. The firm seeks to invest in established businesses with a proven technology and business model, and the proper fit in terms of culture and values, in both minority and control situations.