Vancouver’s SkyHive, a workforce technology innovator that delivers powerful insights for improved human capital management (HCM), has received a ‘sizable equity investment’ from Germany’s Deutsche Bank via its strategic Corporate Venture Capital unit.
The investment from Deutsche Bank will support SkyHive’s growing global operations, particularly the company’s continued expansion in the European market. SkyHive also maintains ongoing partnerships with the likes of World Economic Forum, Workday and Accenture.
SkyHive.ai combines its real-time, global labor market data with transparent and unbiased artificial intelligence to give companies, government and educators actionable insights into their workforce’s current and emerging skills, skills gaps, industry benchmarks and reskilling options.
SkyHive uses a two-pronged approach: skills-first applications and extensible platforms that normalize skills intelligence for companies across existing HCM ecosystems. For individuals, SkyHive’s Skills Passport provides data, insights and upskilling options to ensure users’ skills stay relevant, both today and well into the future.
“Human capital is by far the most untapped potential in today’s modern age. Enterprises and communities that are alert to the advancements in strategic workforce solutions can radically transform top and bottom-line growth trajectories by unleashing their workforce’s full capacity,” said SkyHive Founder and CEO Sean Hinton.
“Who you hire, where you hire, what you pay, who you deploy and how you compete are just a few examples of key business decisions that hinge on a deep, continuous and accurate understanding of your constituents’ skills. Our technology uniquely enables this mission-critical capability, and therefore was a strong rationale for Deutsche Bank’s investment.”
In addition to the investment, SkyHive has invited Karen Meyer, Chief Operating Officer for Deutsche Bank’s HR organization, to participate in SkyHive’s Board of Directors meetings in a non-voting observer capacity.
Last year SkyHive raised a $40 million Series B investment round led by Eldridge and was recognized by The World Economic Forum as a 2021 Technology Pioneer.