French HRtech startup Neobrain, which uses AI to support organisations and people during times of change and crisis, has secured €3 million of investment from French venture capital firm Breega. The startup will use the funds to expand internationally, grow its team and conduct more research on the job market.
At a time when many organisations are restructuring due to coronavirus, employees may experience changing job roles and team structures. Using artificial intelligence, Neobrain (2014) has developed technology that anticipates and facilitates strategic HR decisions. The startup can respond, effectively and relevantly, to three key needs within organizations: employee engagement and loyalty; simplification and flow of internal mobility; alignment of employee skills with company strategy. Thanks to its new technology and its team’s expertise, Neobrain limits the impact of job transformation on employees.
So far NeoBrain has grown its team to 24 people, and has opened offices in its native Paris and abroad in Lisbon. It’s nabbed nearly 60,000 monthly active users, and since the start of the COVID-19 crisis has increased its monthly growth by 50%.
With the fresh funds, the startup intends to triple its workforce by recruiting around 40 people by the end of the year, and intends to broaden its activity internationally. The HRtech startup will also widen its analysis of the job market from 50 countries (representing 54 million job offers), to 100 countries, in order to strengthen its predictions on the evolution of jobs and skills.
Paul Courtaud, CEO of Neobrain, commented: “Mobility is a major issue to guarantee the sustainability of jobs and organizations. We see that competence and motivation become the link between employment and training.”