Visier raises $125M to energy HR analytics with information

Cloud-based analytics platform Visier, which focuses on human sources (HR) and workforce technique applications, today announced that it closed a $125 million series E round led by Goldman Sachs at a post-cash valuation of more than $1 billion. With the investment, Visier joins a compact list of HR technologies providers that have raised more than $one hundred million in a single funding tranche.

Visier, whose total capital raised stands at $219.5 million to date, will use the proceeds to assistance solution development, go-to-market place expansion, marketing and advertising, sales, partnerships, distribution channels, and strategic acquisitions “as they make sense for the business,” CEO Ryan Wong says. He claims that Visier is the initial independent vendor of its type to attain a $1 billion valuation.

Companies are in the midst of digital transformations due to elevated demand for far better individuals analytics. People analytics, also recognized as talent analytics or HR analytics, refers to the analyses that can assistance managers make choices about their staff or workforce. While individuals analytics is a new domain for most HR departments, 70% of firm executives cite individuals analytics as a prime priority, according to McKinsey. As for Wong, he argues that the speedy shift to a remote workforce brought on by the pandemic has made the need to have for individuals analytics more apparent.

Founded by John Schwarz and Wong in 2010, Vancouver, Canada-based Visier, which has about 417 staff, is made to integrate information from disparate sources. It onboards information making use of prebuilt connectors for current systems, letting shoppers develop their personal information integrations, import bulk information, and export and query information as properly as transform information into analytics models.

“Visier was founded 11 years ago by a group of us who had spent the majority of our career pioneering business intelligence, first at Crystal Decisions and then, through a series of acquisitions, at Business Objects and SAP,” Wong told VentureBeat through e mail. “Visier was founded on the belief that the analytics problem needed to be solved differently — not as a general-purpose platform, but a series of purpose-built apps that provide much faster time to value, much lower total cost of ownership, and access to the sort of insights that managers and executives need to make better decisions and run their businesses.”

People analytics

Companies are increasingly struggling to apply information approaches to their HR operations. A Deloitte report discovered that more than 80% of HR specialists score themselves low in their potential to analyze, a troubling truth in a very information-driven field.

Visier seeks to address this by supplying access to more than 2,000 out-of-the-box analytics modules that can be embedded in sites, apps, and portals. On the backend, the platform preps information for evaluation, filling in the voids and generating derived information attributes.

“People data is notoriously messy, complex and challenging to analyze,” Wong stated. “Visier has a number of powerful capabilities — connected to our proven analytical model for people data — that directly solve key people challenges for our customers spanning areas like diversity, retention, rewards, and recruitment.”

Visier has more than 12 million employee histories across 75 nations loaded into its platform, which has enabled the firm to make benchmarks that span a number of industries and predictive models.

“Companies use Visier to understand and improve their workforce at every stage of the employee lifecycle — from recruitment to retirement. Visier is designed to answer virtually any question HR, people managers and executives need to ask about their workforce to improve diversity and inclusion, performance and productivity, employee retention and happiness, and to more effectively plan hiring and career progression, and manage people and teams,” Wong stated. “Our product helps answer questions like: do we have the people and skills we need to meet our goals? Are we managing our workforce responsibly and sustainably? Are diverse individuals represented at all levels of the workforce? Are we prepared for what’s to come?”

Visier is not with no competitors in the international HR analytics market place, which was estimated to be worth $2.49 billion as of 2020. ChartHop not too long ago closed a $35 million funding round, and rivals CoachHub and Hibob are similarly properly-capitalized. There’s also workplace analytics startup VergeSense, OKR-tracking platform WorkBoard, employee evaluation tool 15Five, and Gloat, a profession development marketplace for information workers.

But Visier has a powerful foothold in the segment, with a buyer base of more than 8,000 brands like Uber, Adobe, Bridgestone, Wayfair, and EA.

“There have been plenty of negatives that are similar to any company operating during [the pandemic]. The difference for Visier is that, in a way, we’ve also benefited from it because we’re providing a solution to many of these challenges,” Wong stated. “The way I see it is that the pandemic just amplified and accelerated what was already happening: employees have new expectations for how, where, when and why they work. The pressure is on for companies to know and understand their employees better than ever before and this requires the sort of data and insights that Visier provides.”

Originally appeared on: TheSpuzz