France-based 365Talents announced a $12M Series A Round of venture capital funding for its talent management suite focused on skills intelligence and career development. This brings its total raised to $14.9 million. The round was led by iXO Private Equity.
365Talents claims to have more than 200,000 users in over 60 countries and boasts a stated goal of 1 million users by 2023, and 10 million within 5 years.
We are committed to providing HR professionals and managers with tools that allow them
Loïc Michel, co-founder and
to have a very quick impact on the careers and employability of their employees while of
course aligning these skills with market challenges
CEO of 365Talents.
When Amazon announced its upskilling initiative in July of 2019, it cemented internal mobility and career pathing as a trend to be reckoned with for talent-focused HR leaders. While the trend wasn’t new in 2019, Amazon committing $700 million for the reskilling of 100,000 workers, which represent about a third of its US workforce – caught the eye of CEOs everywhere and created a question that the CHRO and CLO needed to have an answer for: ” What’s our plan for reskilling?”
Today, employers are struggling to recruit new employees while simultaneously facing the Great Resignation/Reset/Reconsideration/Shuffle challenges. Investments in programs that will retain employees and optimize their skills result in a win-win for employers and employees alike.
Retaining, motivating, and engaging employees by aligning their needs and skills with the business’s current and future path is an excellent thing. But it’s never been easy. There are owners for recruiting, learning, and leadership development, but you’ll meet a rare few owners of the overall talent management process. The lack of a clear owner is a gaping hole in the market.
The many solutions we’ve reviewed address the current challenges in one of two ways:
- as an internal job board/marketplace/portal putting the onus on the employee to find their next role and seek out the path,
- or by assessing the skills of the workforce and matching them to a career path.
Talents365 is one of many tech providers looking to leverage AI to enhance this experience for both constituencies.
The investment required to support these initiatives goes beyond dollars. Delivering on the promise of reskilling and internal mobility requires engagement and support from the manager, and ideally, an employee-centric culture. Supportive managers and cultures may be the biggest challenge. Even the Amazon announcement we all took note of only reflects a financial commitment of $7,000 per employee for an initiative spanning until 2025.
$13.7 billion was invested globally in work tech through Q3 2021 across 299 deals. WorkTech Market Insiders can access insights and analysis of all of the deals in our Q3 report with a free membership.
Source: 365Talents, European Skills Management Leader, Raises 12 Million USD in Series-A Fundraising Round
