Connect with us

Hi, what are you looking for?

Jewish Business News

Business

Talent Intelligence Platform retrain.ai Raises $13 Million

Retrain.ai is an Israeli startup that uses AI and Machine Learning to offer what it calls a Talent Intelligence Platform. Retrain.ai closed a $9M Series A round of investment led by international fund Square Peg. The new funding comes after the company held a $4 Million Seed Round in September 2020.

The company has also just signed its first major deal with the Israeli Department of Labor which will be using retrain.ai to help flatten the national unemployment curve.

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

Founded in 2020, retrain.ai is a talent-management platform for Enterprises and Government Agencies to assess their workforce’s knowledge, qualifications, and skills, using artificial intelligence and machine learning, enabling them to retrain, recruit, and retain workers faster and more accurately than ever before. Retrain’s AI models “captures skills shifts cycles and predicts the Jobs-of-the-Future, allowing employers to understand better which skills are emerging, evolving and expiring.”

Just because an employee does not work out in one role does not mean that he is not suited for your organization. The person may have the skills and qualifications to fill a different role. Or maybe someone lost their position with a company due to cut backs. There might not be a similar role to fill with another firm, but this person could be retrained to do something else if he has the appropriate skills and experience.

This is all especially important to understand today given all of the people who lost their jobs due to the Coronavirus pandemic.

Retrain was selected by the Israeli Department of Labor and JDC-Tevet, Israel’s leading social R&D organization, to spearhead a national data project as part of accelerating the recovery of the economic downturn due to the pandemic and apply next generation technologies to map at and help integrate millions of people into the changing world of work, effectively flattening the 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.”

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.