Israeli-founded retrain.ai has closed an additional $7 million from current investors and added Splunk Ventures as a strategic investor in its oversubscribed funding round, the company announced Sunday.
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retrain.ai uses AI and machine learning to help governments and organizations retrain and upskill talent. The new capital expands the company's total funding to $20 million.
The World Economic Forum estimates automation will displace 85 million jobs while simultaneously creating 97 million new jobs by 2025. retrain.ai's goal is to help millions of workers get the right job while helping organizations navigate through this wave of change.
"We are thrilled to have Splunk Ventures join us on this exciting journey as we use the power of data to solve the widening skills gap in the global labor markets," said Dr. Shay David, co-founder and CEO of retrain.ai.
"Splunk's dedication to using data to drive positive change aligns with our mission to upskill talent for the workforce of the future, making this the perfect collaboration," David said.
retrain.ai's Series A funds will be used for US expansion, hiring key talent and product development.
