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Workforce analytics platform SkyHive raises $40M
Oct 20, 2021 | Venture Beat
Picture - Workforce analytics platform SkyHive raises $40M

SkyHive Technologies, a company developing workforce planning software, today announced that it closed a $40 million series B round led by holding company Eldridge Industries LLC, with participation from Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City. CEO Sean Hinton says that the proceeds will be put toward growing SkyHive’s operations as the company looks to expand its customer base, as well as supporting ongoing product R&D efforts.

People analytics — also known as talent analytics or HR analytics — refers to analytics that can help managers and executives make decisions about their workforce. While people analytics is a new domain for most HR departments, 70% of company executives cite people analytics as a top priority, according to the management consulting firm McKinsey & Company. However, barriers stand in the way of adoption. In a 2018 Deloitte survey, only 42% of companies said that they were ready to address it.

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