One Model, an Austin-based workforce and people analytics software company has recently raised $41 million in a growth funding round led by Riverwood Capital, with participation from Queensland Investment Corporation (QIC), Geekdom, and AV8 Ventures. With the funds, the startup plans to accelerate the development of its two core technology solutions.
Co-founded by Chris Butler, David Wilson, and Matthew Wilton in late 2014, One Model provides the People Data Cloud™ and One AI, which offer advanced analytics capabilities and data orchestration to help businesses make data-driven decisions, optimize talent strategies, and facilitate business success. With the platform, organizations can identify areas where they lack skills or talent, forecast future workforce needs, and calculate the cost of turnover. It also offers a monitoring dashboard that consolidates HR data and allows users to create reports, dashboards, and visualizations. Users can harness the power of One AI, One Model’s data science suite, to perform various tasks related to HR data analysis and decision-making.
Speaking on the fundraising, Co-founder & CEO of One Model, Christopher Butler, said:
This capital will allow us to maintain our growth trajectory and remain the innovation leader of the people analytics domain. With our expanded resources, we aim to empower HR and IT leaders to harness the true potential of their enterprise workforce data to drive significant business outcomes.
Additionally, my co-founders, David Wilson, Matthew Wilton, and I, share a career-long passion for democratizing people data insights at scale in large organizations. Our mission is to provide all decision-makers with the most reliable, impactful, predictive, and ethical insights possible.
The startup’s growth trajectory is powered by solid customer relationships with nearly a hundred of the world’s largest global employers and brands. By delivering secure and unprecedented access and visibility to these organizations’ international people data, it has earned a reputation as the industry’s most respected and capable people analytics provider.
Francisco Alvarez-Demalde, Co-founder & Managing Partner of Riverwood Capital, commented:
In a world of increasing digitalization, automation, technology innovation, and complexity, making informed and timely talent decisions is fundamental to the success of any organization. One Model’s platform makes sense of all HR data, providing employers with the right people analytics tools and insights to unleash their workforce’s full potential. Companies can identify, develop, and retain talent with the One Model and make better hiring and other HR-related decisions. One Model’s people-centred approach and innovative technology have set them apart as a great partner for enterprises globally as they pursue more robust people strategies. We are excited to work with this fantastic team to grow the business and revolutionize HR with a comprehensive platform for people analytics.
One Model is trusted around the world and across sectors. Among its customers are one of the world’s most significant web design and hosting companies, the leading online securities trading app, a global payroll provider, and dozens and dozens of globally recognized brands.
AGC and Cooley served as advisors to One Model and Foley & Lardner LLP as part of the transaction. Piper Sandler served as an advisor to Riverwood Capital.
In 2017, One Model had raised $3.7 million in a seed round led by The Geekdom Fund, Otter Consulting, Techstars, and Lontra Ventures. The company’s latest funding brings its total raised to $44.8 million.