HRtech startup Neobrain has just secured €20 million for its SaaS solution that is enabling JR skills management and workforce planning. This funding marks a record for the HRtech sector in France. Leading the Series A funding is Alter Equity, Crédit Mutuel Innovation, XAnge (operating on behalf of La PosteVentures), with Neobrain’s existing investor Breega also participating.
Founded in 2018 by Paul Courtaud, Neobrain is powered by AI and Big Data. The platform enables companies to anticipate changes in job roles and enhance the skills and motivation of employees. In just four years, already more than 80 major accounts and 300k employees have adopted Neobrain.
Companies such as BOSCH, Natixis, Edenred, Sage and so on, rely on the startup’s tech to better identify current and future skills requirements and to respond with appropriate HR strategies. It means that employees benefit from personalised mentoring, enabling them to objectify their skills and to orient themselves towards training or new jobs within the company.
Paul Courtaud, CEO of Neobrain explained: “In an environment where the competition for talents is increasingly fierce, organisations must now, more than ever, leverage and grow the skills of their workforce to improve employee retention.”
Paris-based Neobrain is offering a unique and pertinent solution and is backed by AI tech and a focus on user experience. As a result, the company is enjoying accelerated growth, with a turnover that has tripled every year since 2019. Further, the team has grown at an impressive pace – from 15 to 80.
Designed from the outset for international use, the solution analyses data from several million job offers in 50 countries on a daily basis to predict job market trends. This latest funding will allow Neobrain, currently present in France and Portugal, to accelerate its international expansion.
Paul Courtaud added: “We launched our subsidiary in Portugal in 2019. The international expansion we are planning for the coming months will take place on a much larger scale. With the acceleration of our activity in 2021, we have acquired the necessary knowledge and experience to adapt and move forward ever faster!”
The fresh capital boost will be used to develop its innovative tech. The aim is to create tools and systems that will help teams develop skills of internal talent, strengthen company resilience, and provide greater oversight over the workforce. Neobrain is bringing companies software that can truly benefit HR teams, in turn improving the employee experience and company outcomes.