SkyHive secures $49.3 million CAD Series B raise for automated job skills tech

Tech workers

SaaS startup SkyHive has raised $49.3 million CAD ($40 million USD) in a Series B round. Eldrige led the round with participation from Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City.

SkyHive specializes in workforce transformation and labour market development guidance.

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 raised more than $73.9 million CAD ($60 million USD) to date. The company did not disclose when the Series B round closed.

SkyHive uses artificial intelligence to objectively extrapolate the skills of workers, the skills required by jobs, the skills gained from training, then applies deep learning to match workers with jobs and training.

SkyHive offers talent acquisition, job searching, onboarding mentorship, adaptive learning, succession planning, and training and development solutions to job seekers, learners, employees, companies, governments, and training institutions.

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The startup said its clients include many of the world’s top companies and governments. Its platform is vertically agnostic and specializes in all facets of the labour market. SkyHive is a for-profit social impact company (B Corp) and a self-proclaimed proponent of the ethical use of artificial intelligence.

Since its launch in June 2018, SkyHive has been actively collaborating with partner organizations to develop impact-driven projects that drive employment and economic empowerment to six under-represented groups: women, youth, newcomers, indigenous peoples, veterans, and physically disabled persons.

Among others, SkyHive has worked with the Department of National Defence to help increase gender equality in the Canadian military; supported the Ladies Empowerment and Action Program in empowering incarcerated women to successfully re-enter society by providing access to employment and skills training programs.

In 2019, SkyHive was among the first 10 Canadian companies participating in the Consulate of Canada in Silicon Valley for the inaugural cohort of the Canadian Women in Tech Silicon Valley program. And, in 2020, it was one of the 13 companies accepted into the Lazaridis Institute’s ScaleUp Program.

The BC Tech Association honoured SkyHive in 2020 with its Spirit of BC Tech – Purpose award.

Charles Mandel

Charles Mandel

Charles Mandel's reporting and writing on technology has appeared in Wired.com, Canadian Business, Report on Business Magazine, Canada's National Observer, The Globe and Mail, and the National Post, among many others. He lives off-grid in Nova Scotia.