retrain.ai, the Talent Intelligence Platform that uses AI and Machine Learning to redefine the future of work by helping organizations upskill, retrain and place professionals in new roles, announces today the close of a $9M Series A led by international fund Square Peg, following their $4M Seed Round in September 2020, led by Hetz Ventures, with TechAviv and .406 Ventures participating. Alongside the funding, the company announces a notable first deal with the Israeli Department of Labor which will be using retrain.ai to help flatten the national unemployment curve.
“After successfully building Kaltura, a category-leading video platform company, I knew my next company should address one of the biggest challenges we are facing today, the skills gap,” said co-founder and CEO, Dr. Shay David. “What was once the regular tide of change in the workforce has evolved into a tsunami, especially pronounced by COVID-19 and its huge impact on the labor market. This has been a wake-up call. Unemployment and underemployment is going to affect a billion people globally in the next few decades. Our vision is to help 10 million workers get the right jobs by 2025 and help organizations navigate efficiently through the wave of change.”
The company will use the funds to accelerate growth and to expand its team.
Announcement: retrain.ai Closes $13M for Talent Intelligence Platform