SkyHive raises $40M for its workforce analytics platform

The company plans to use the capital for international partnerships, R&D, and sales and marketing.

Vancouver’s SkyHive, which was recently named to the World Economic Forum’s Technology Pioneers list for 2021, has raised USD$40 million led by Eldridge. The round, which had participation from investors Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City, brings SkyHive’s total funding to more than $60 million.

Share

Founded in 2017, SkyHive has built what it calls a Quantum Labor Analytics (QLA) platform to optimize human economies for companies, communities and countries. QLA combines economic theory, workforce modelling, human analytics and data science to provide real-time insights on workforces and external labour markets. The platform also identifies high-value emerging skillsets and actively helps organizations reskill their professionals. QLA is active in 90 countries and 400,000 unique locations worldwide, according to the company.

SkyHive plans to use the capital to expand client services and partnerships around the world, as well as augment ongoing research and development and grow the company’s sales and marketing teams.

“As workforces and communities debate which skills will secure their futures in tomorrow’s economy, our technology is bringing clarity to this long-standing problem,” said Vancouverite Sean Hinton, SkyHive founder and CEO. “We are helping them build more efficient workforces, while closing significant skills gaps in the labour market.”

“The success of any organization starts and ends with the quality of its workforce," said Michele Trogni, an operating partner at Eldridge. "SkyHive is revolutionizing how professionals around the world can work and learn, and we are proud to partner with Sean and the entire SkyHive team.”

SkyHive clients include Accenture, Workday and Unilever, among other major organizations.

For more fundraising news, subscribe to the Sunday Briefing: