SkyHive secures $40 million in Series B funding round in the United States
SkyHive Secures $40 Million in Series B Funding for Global Expansion
SkyHive, a Vancouver-based SaaS platform specializing in workforce transformation and labor market development, has secured $40 million in Series B funding. The funding round was led by Eldridge, and participants included Allegis Cyber, Accenture Ventures, Workday Ventures, and the Partnership Fund For New York City.
SkyHive's technology aims to reskill personnel across companies, communities, and national economies. This innovative platform has earned recognition as a 2021 Technology Pioneer by The World Economic Forum.
The funding will be utilized to grow SkyHive's sales and marketing teams, support global expansion of client services and partnerships, and augment ongoing research and development. However, it's important to note that the advisory team, which includes industry veterans such as Mark Longo, Jacques Du Plessis, Tara Folk (Emerging & High Growth Companies), Ian Morrison, Megan Young (Corporate), and Alain Fournier (Tax), did not participate in the funding round.
As a Certified B Corporation, SkyHive received advisory services from this team, but the certification was not part of the advisory services. The advisory team is not involved in growing SkyHive's sales and marketing teams, nor is it associated with SkyHive's global expansion of client services and partnerships.
Post-funding, SkyHive has integrated its technology into Cornerstone's comprehensive platform, Cornerstone Galaxy. This move is expected to enhance workforce agility and close the workforce readiness gap. However, specific details on SkyHive's global expansion plans following the Series B funding are not readily available.
Given the absence of direct updates, it's likely that any further developments would be tied to Cornerstone's strategic initiatives and market expansions. As SkyHive continues to innovate and reshape the workforce landscape, we can expect to see exciting developments in the near future.
Investors are showing interest in high growth companies like SkyHive, as they secure $40 million in Series B funding for business expansion. With this financial boost, SkyHive is planning to invest in research and development, sales and marketing teams, and global client services, potentially leading to significant growth in the technology sector.
