Vancouver’s SkyHive has raised a $40 million Series B investment round led by Eldridge, with participation from other investors Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City.
SkyHive is a SaaS platform providing workforce transformation and labor market development guidance and was recently recognized by The World Economic Forum as a 2021 Technology Pioneer.
SkyHive is solving dislocation in modern labor economics and human capital management using its proprietary Quantum Labor Analysis (QLA) methodology, which is active in 90 countries and 400,000 unique locations worldwide.
QLA combines economic theory, workforce modelling, human analytics, and data science to provide real-time insights on workforces and external labor markets. The platform also identifies high-value emerging skillsets and actively helps organizations reskill their professionals.
“Reskilling the world at scale and with pace is only achieved by successfully blending art and science,” said Sean Hinton, SkyHive Founder and CEO. “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. We are helping them build more efficient workforces, while closing significant skills gaps in the labor market.”
SkyHive’s new capital will support its global expansion of client services and partnerships. It will also augment ongoing research and development and grow the Company’s sales and marketing teams. SkyHive has now raised more than $60 million towards its mission of future-proofing organizations as they transition from job-based to skills-based models.