The enterprise workplace is undergoing a distinct change, and requires a new generation of strategic technology to attract, retain and develop talent to compete. Addressing this market demand, today, Ascendify, the first Intelligent People Management™ platform for the enterprise, announced that it has closed $11 million in Series A funding with Canaan Partners leading the round. GE Ventures and Cisco Investments, who were customers of Ascendify prior to investing, also participated in the Series A funding round and are collaborating with Ascendify to build a shared vision of the future of smarter talent solutions.
Ascendify's platform is the first fully integrated talent acquisition and talent management application that threads together an intelligent data layer to help HR teams make smarter decisions with their talent. Used by marquee brands including GE, Cisco, Panasonic, Deloitte and Disney, HR leaders can determine where further investments in talent should be made, how to fill gaps in hiring delays and employee turnover, and develop strategies to get the best out of their workforce while maximizing employee retention.
"Going back to our investment in Success Factors, Canaan has believed in the impact that superior talent management technology can deliver to the enterprise," said Deepak Kamra, General Partner at Canaan. "Ascendify's unique end-to-end platform gives organizations the tools to make smarter hiring and management decisions. The company's close partnerships with GE and Cisco, among others, are testament to that impact."
What is Intelligent People Management?
Intelligent People Management combines talent acquisition and talent management into one complete solution which gets smarter with every use. Patterns of successful employees are identified and used for future recruiting efforts as well as the development of existing employees. Skill gaps of teams and individuals are identified, while learning assets and stretch projects are recommended to strengthen their professional development. By bringing talent and intelligence together, the results are exponential: a smarter hire, a more motivated workforce, and a far more agile enterprise.
"Just like other intelligent apps can recommend what movie to watch, what music to listen to or what route to avoid traffic, Ascendify serves as a recommendation engine for talent," said Matt Hendrickson, Founder and CEO of Ascendify. "Enterprise companies see their employees as an investment. They care less about hiring people quickly and cheaply, and more about finding and developing the right person for the job. We're helping by using predictive analytics and augmented decision-making, so companies can better understand the roles and capabilities that they're hiring for, fill gaps on their teams, and develop skills with data intelligence."
About Ascendify
Ascendify, the first Intelligent People Management™ platform for the enterprise, was founded in 2012 and is backed by Canaan, Cisco Investments and GE Ventures. Ascendify integrates machine learning and predictive analytics into every aspect of its talent acquisition and talent management app. This means a smarter way to identify the right people, which skills they have, what training and education they require and what guidance and motivation will keep them inspired to succeed. Headquartered in San Francisco, Ascendify's customers include major enterprise brands within the Fortune 100 - to include Deloitte, Panasonic, Bank of Montreal, GE, Cisco and Marriott. For more information, visit http://www.ascendify.com potential.
About Canaan
Canaan is an early stage venture capital firm that invests in entrepreneurs with visionary ideas. With $5B under management, a diversified fund and over 190 exits to date, Canaan has invested in some of the world's leading technology and healthcare companies over the past 30 years. Canaan's focus areas include fintech, enterprise/cloud, marketplaces, frontier tech, biopharma, digital health and medtech. To learn more about our people and our portfolio, please visit canaan.com.