Automation will transplant 85 million jobs while simultaneously creating 97 million new jobs by 2025, equal to the World Economic Forum. Although that sounds like good news, the nonflexible reality is that millions of people will have to retrain in the jobs of the future.
A number of startups are addressing these problems of employee skills, so looking at talent development, neuroscience-based assessments, and prediction technologies for staffing. These include Pymetrics (raised $56.6M), Eightfold (raised $396.8M) and EmPath (raised $1M). But this sector is by no ways washed-up yet.
retrain.ai bills itself as a ‘Talent Intelligence Platform’ and it’s now sealed an spare $7 million from its current investors Square Peg, Hetz Ventures, TechAviv, .406 Ventures and Schusterman Family Investments. It’s moreover now widow Splunk Ventures as a strategic investor. The new round of funding takes its total raised to $20 million.
retrain.ai says it uses AI and machine learning to help governments and organizations retrain and upskill talent for jobs of the future, enable diversity initiatives, and that it helps employees and jobseekers manage their careers.
Dr. Shay David, co-founder and CEO of retrain.ai said: “We are thrilled to have Splunk Ventures join us on this heady journey as we use the power of data to solve the widening skills gap in the global labor markets.”
The visitor says it helps companies tackle future workforce strategies by “analyzing millions of data sources to understand the demand and supply of skill sets.”
retrain.ai new funding will be used for U.S. expansion, hiring talent and product development.