Parisian HR skills management platform Neobrain has raised €20 million in a Series A funding round. The firm employs AI technologies to help companies better identify their current and future employee skills requirements and develop effective HR strategies.
The funding is expected to fuel aggressive international expansion plans as well as further refine the company’s technology. Since mid-2020, Neobrain has raised a total of €23 million.
Every day, Neobrain is scouring several million job boards in some 50 countries around the world, compiling this data and generating job market trends.
Armed with this data, Neobrain clients including BOSCH, Natixis, Edenred, Apfa, Sage, Promod have a clearer understanding of the war-for-talent, and through internal personalised monitoring can identify individuals that are suitable for training or new positions within the company to meet these future trends.
"In an environment where the competition for talents is increasingly fierce, organisations must now, more than ever, leverage and grow the skills of their workforce to improve employee retention," says Neobrain CEO Paul Courtaud.
Since 2019 Neobrain has seen a tripling of turnover, and has grown the team from 15 to a now robust 80 individuals.
Neobrain’s €20 million Series A funding round was led by Alter Equity, Crédit Mutuel Innovation, and XAnge (operating on behalf of La Poste Ventures), with existing investor Breega renewing its commitment.