Funding round of US$ 40 million secured by SkyHive in its Series B
SkyHive Secures $40M Series B Funding for Workforce Transformation
SkyHive, a Vancouver-based workforce transformation software company, has announced a successful $40M Series B funding round. This investment will support the company's expansion, innovation, and global growth.
Founded in 2018, SkyHive is a certified B corporation that specializes in using AI to optimize labor market efficiency. The company's software helps businesses, communities, and national economies by providing real-time skill mapping, talent forecasting, and reskilling recommendations. These services are designed to align talent strategies with evolving economic conditions.
The funding round was led by Eldridge, with participation from Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund for New York City. This investment will bolster ongoing research and development efforts at SkyHive, enabling the company to continue leading the future-of-work and workforce transformation market.
SkyHive's technology has been widely adopted by Fortune 500 companies, global institutions, and public sector entities for managing skill gaps, future-proofing talent strategies, and promoting inclusive workforce development. In 2021, the company was recognized as a 2021 Technology Pioneer by the World Economic Forum, further underlining its pioneering role in applying AI for both social good and business impact.
The team advising SkyHive includes legal and financial experts such as Alain Fournier, Mark Longo, Jacques Du Plessis, Tara Folk, Ian Morrison, and Megan Young. However, this team is not involved in SkyHive's ongoing research and development efforts, sales and marketing teams, or global expansion of client services and partnerships.
With this funding, SkyHive aims to scale its AI-powered workforce transformation solutions further, expand enterprise-scale engagements, and continue innovation in real-time AI modeling to drive intelligent labor analytics. The focus remains on strategic growth in technology and clientele, positioning SkyHive well in the competitive AI development landscape within Canada, particularly in sectors like finance, logistics, and digital transformation.
As SkyHive continues to grow and innovate, it is poised to make a significant impact on the global workforce, helping businesses and economies adapt to the ever-changing demands of the future-of-work.
SkyHive will use the $40M Series B funding to scale its AI-powered workforce transformation solutions, particularly in sectors like finance, focusing on strategic growth and innovation in real-time AI modeling. This investment will also bolster ongoing research and development efforts in the business of providing solutions for managing skill gaps and promoting inclusive workforce development, which involves investing in workforce transformation and technology.
