Vancouver-based workforce analytics company Visier announced last week that it had secured US$125 million in a recent Series E funding round led by Goldman Sachs Asset Management. The investment by Goldman-Sachs brings Visier's total funding to $219.5 million, with an overall estimated value of over US$1 billion. LionTree Advisors was the financial adviser to Visier. This is the biggest investment Visier has raised to date, making it the first unicorn company in the people analytics space.

According to Co-Founder and Chief Executive Officer Ryan Wong, Visier will use the fresh capital on product management and company's expansion worldwide likely through offices in Germany and the UK. 

"There is unprecedented demand for companies to better understand the people within their organisations", said Wong.

The investment can prove to be a turning point for Visier in the busy US$9.4 billion US HCM market. Visier's people management software, which enables managers to evaluate employee performance and to foresee employee turnover, is gaining popularity and has been adopted by over 8,000 customers world-wide including Merck, Adobe and Electronic Arts.  Although Visier has not disclosed its current revenue, Wong has revealed that the company is currently breaking even. 

“We like to say we’re the McKinsey of software,” said Wong. “Instead of hiring a big consulting firm, Visier can provide an answer. We figure out the right question to ask, and we have machine learning that can provide the answer", added Wong.

Visier, founded in 2010, presents itself as the best solution to HR related queries. The company presently has data of over 12 million workers across 75 countries.

Lexy Martin, Principal, Research and Customer Value, Visier will be a speaker at People Matters TechHR 2021. Click here to register.