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One Model, an AI-powered platform designed to assist employers in making informed decisions about recruitment, promotions, layoffs, and overall workplace planning, has announced a $41 million funding round led by Riverwood Capital. This investment will be used to accelerate the company’s growth initiatives, particularly in technology, product development, customer success, and go-to-market strategies.
The Investment: Fueling Growth and Innovation
The $41 million investment will enable One Model to further revolutionize the HR sector. The funds will be used to expand the company’s people analytics product roadmap, aiming to solve problems for a diverse array of data science, analyst, people manager, and C-level audiences. The company plans to deliver tailored content proactively through alerts, notifications, and individualized reporting.
One Model: A Game-Changer in People Analytics
One Model is a leading player in the “people analytics” platform sector, a platform designed to collect and apply organizational and talent data to improve business outcomes. According to a 2018 Deloitte survey, 84% of large organizations rated people analytics as “important” or “very important,” and 69% had already formed a people analytics team. The market for people analytics software is expected to grow from $2.58 billion in 2022 to $7.67 billion by 2031.
The Founding Team: From Inform to One Model
The founding team of One Model, including CEO Christopher Butler, comes from Inform, a people analytics service acquired by SuccessFactors (now SAP SuccessFactors) in 2010. After the acquisition, they noticed a growing disconnect between what customers wanted to do with their people data and the solutions available in the market.
One Model’s Unique Offering: An Enterprise People Data Orchestration Platform
One Model provides a toolkit for extracting, modeling, and governing HR data, as well as delivering that data to various applications and services. The platform can perform basic tasks like identifying areas where a company has a shortage of skills or talent and projecting future workforce needs. It can also calculate the cost of turnover and headcount, creating a plan to measure and reduce this cost over time.
One Model’s Impact: Transforming Large Organizations
One Model is addressing persistent data integration challenges that large organizations face, while also tackling modern concerns around ensuring consistent, auditable talent decisions with robust privacy standards and data governance. The platform unifies HR data in one place, allowing customers to integrate different data sources and data destinations to create reports, dashboards, and visualizations.
Looking Ahead: The Future of One Model
With this new funding, One Model is set to redefine how companies approach and utilize HR data. The company is well-positioned to become a dominant player in the people analytics space, with a clear vision for the future and a commitment to innovation. The future looks bright for One Model as it continues to revolutionize the way businesses approach HR decision-making.
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