Denmark-based Eloomi announced a $55 million strategic investment for its talent management platform. This brings its total raised to $78.7 million.
Eloomi looks to have all of the components found in a talent management platform including employee onboarding, learning, performance management, and coaching. The firm claims 500 customers in 25 countries across all market segments. The firms case studies skew toward the middle market (1,000 to 10,000 employees).
Through upskilling and development of their people, our customers achieve substantial benefits with eloomi, such as increased motivation, engagement, and productivity, often resulting in increased employee retention rates.Claus Johansen, Eloomi CEO and Founder
When Amazon announced its upskilling initiative in July of 2019, it cemented internal mobility and career pathing as a trend to be reckoned with for talent-focused HR leaders. While the trend wasn’t new in 2019, Amazon committing $700 million for the reskilling of 100,000 workers, which represent about a third of its US workforce – caught the eye of CEOs everywhere and created a question that the CHRO and CLO needed to have an answer for: ” What’s our plan for upskilling and reskilling?”
Retaining, motivating, and engaging employees by aligning their needs and skills with the business’s current and future path is an excellent thing. But it’s never been easy. There are owners for recruiting, learning, and leadership development, but you’ll meet a rare few owners of the overall talent management process. The lack of a clear owner is a gaping hole in the market.
Talent management has attempted to address this need since the category emerged in the early 2000s, however the market has shifted the conversation away from traditional talent management and toward more of an integrated talent acquisition, learning, and workforce planning discussion. It’s still early days for upskilling and learning must be a core component.
In 2020 $1.4 billion was invested globally in HR technology focused on talent management. Get the full report for free on 2020 global HR technology VC here.