One Model lands $41M to bring data science-powered insights to HR
Summary
One Model, a platform that uses AI to help employers make decisions about recruiting, hiring, promotions, layoffs and general workplace planning, today announced that its raised $41 million in a funding round led by Riverwood Capital.Christopher Butler, CEO of One Model, said that the capital will be used to boost several of the companys growth initiatives, particularly in the areas of technology, product development, customer success and go-to-market.One Models people analytics product roadmap will be expanded to solve problems for a diverse array of data science, analyst, people manager and C-level audiences, delivering tailored content proactively through alerts, notifications and individualized reporting, Butler told TechCrunch via email. Further investment in One AI will provide more analysts and decision-makers with actionable forecasts, all from a powerful ethical and data governance posture.One Model is whats known as a people analytics platform a platform designed to collect and apply organizational and talent data to improve business outcomes, at least in theory. Or they could identify opportunities to improve their company workforces efficiency, perhaps by reallocating resources or adjusting work schedules.Theres competition in the people analytics space see startups like ChartHop and Knoetic. But One Model claims to have built up a sizeable customer base, counting brands including Colgate-Palmolive, Squarespace, Robinhood and Airtable among its list of clients.We believe One AI takes a vastly different approach than what is available on the market today, Butler said. And we strongly believe in only the most ethical applications of advanced data science because its possible to make rational, impactful people decisions fairly and equitably Our mission is clear: to ensure every workforce decision taken by an enterprise is the best one possible, informed by all relevant enterprise data, and executed in the most transparent and ethical manner possible.One Models newest tranche brings the Austin, Texas-based startups total raised to $44.8 million.