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Visieris the first independent seller of its sort to get valued at 1 billion dollars.
FERMONT, CA: Visier, a cloud-based analytics platform focused on human resources (HR) and workforce strategy applications, announced today that it had raised 125 million dollars in a Series E round led by Goldman Sachs, valuing the company at over 1 billion dollars post-money. Visier joins a select group of HR technology companies that have raised more than 100 million dollars in a single round of funding.
Visier, which has raised a total of 219.5 million dollars to date, plans to utilize the funds to fund product development, go-to-market expansion, marketing, sales, partnerships, distribution channels, and strategic acquisitions "when they make sense for the business," according to CEO Ryan Wong. Visier, he argues, is the first independent seller of its sort to be valued at 1 billion dollars.
“Companies are in the midst of digital transformations due to increased demand for better people analytics. People analytics, also known as talent analytics or HR analytics, refers to the analyses that can help managers make decisions about their employees or workforce. According to McKinsey while people analytics is a new domain for most HR departments, 70 percentage of company executives cite people analytics as a top priority”.
According to Wong, the pandemic's quick shift to a remote workforce has made the need for people analytics even more evident.
Visier, situated in Vancouver, Canada, founded by John Schwarz and Wong in 2010, is a data integration company with roughly 417 people. It imports bulk data, exports, and queries data. In addition, it transforms data into analytics models using prebuilt connectors for current systems, allowing clients to construct their data integrations, import bulk data, export, and query data, and transform data into analytics models.
“Visier was founded 11 years ago by a group of us who had spent the majority of our career pioneering business intelligence, first at Crystal Decisions and then, through a series of acquisitions, at Business Objects and SAP,” Wong told VentureBeat via email. “Visier was founded on the belief that the analytics problem needed to be solved differently — not as a general-purpose platform, but a series of purpose-built apps that provide much faster time to value, much lower total cost of ownership, and access to the sort of insights that managers and executives need to make better decisions and run their businesses.”