SkyHive, a provider of workforce intelligence technology, has secured an investment from Deutsche Bank Corporate Venture Capital, the venture capital arm of Deutsche Bank. No financial terms were disclosed. SkyHive, which has offices in Palo Alto, California and Vancouver, British Columbia, last year closed a $40 million Series B financing led by Eldridge.
PALO ALTO, Calif., April 11, 2022 – SkyHive, a workforce technology innovator that delivers powerful insights for improved human capital management (HCM), today announced that Deutsche Bank, Germany’s leading bank, has made a sizable equity investment in the company via its strategic Corporate Venture Capital unit. The funding coincides with SkyHive’s European incorporation and increasing demand from multinational customers.
Michael Ilgner, Global Head of HR & Real Estate at Deutsche Bank, said: “Using data intelligently and with purpose will take human capital management to the next level. SkyHive is addressing a key talent shortage issue observed across all industries and particularly prevalent in financial services. Its value proposition of providing employers with a better understanding of the skills of their workforce and in the market paves the way for improved resource management, workforce upskilling, and employee retention.”
Gil Perez, Chief Innovation Officer at Deutsche Bank and Head of Deutsche Bank Corporate Venture Capital, said: “We are delighted to invest, partner and collaborate with SkyHive. Deutsche Bank’s digital transformation has accelerated the pace and scale we need to upskill our workforce, attract, and recruit the best talent in the market. Our ability to effectively and continually invest in our current and future employees is an integral part of our digital transformation.”
In addition to the investment, SkyHive has invited Karen Meyer, Chief Operating Officer for Deutsche Bank’s HR organization, to participate in SkyHive’s Board of Directors meetings in a non-voting observer capacity.
SkyHive.ai, a Certified B Corporation, combines its real-time, global labor market data with transparent and unbiased artificial intelligence to give companies, government and educators actionable insights into their workforce’s current and emerging skills, skills gaps, industry benchmarks and reskilling options. SkyHive uses a two-pronged approach: skills-first applications and extensible platforms that normalize skills intelligence for companies across existing HCM ecosystems. For individuals, SkyHive’s Skills Passport provides data, insights and upskilling options to ensure users’ skills stay relevant, both today and well into the future.
“Human capital is by far the most untapped potential in today’s modern age,” said SkyHive Founder and CEO Sean Hinton. “Enterprises and communities that are alert to the advancements in strategic workforce solutions can radically transform top and bottom-line growth trajectories by unleashing their workforce’s full capacity. Who you hire, where you hire, what you pay, who you deploy and how you compete are just a few examples of key business decisions that hinge on a deep, continuous and accurate understanding of your constituents’ skills. Our technology uniquely enables this mission-critical capability, and therefore was a strong rationale for Deutsche Bank’s investment.”
The investment from Deutsche Bank will support SkyHive’s growing global operations, particularly the company’s continued expansion in the European market. SkyHive also maintains ongoing partnerships with the likes of World Economic Forum, Workday and Accenture.
SkyHive is a Certified B Corporation and software provider of global workforce intelligence technology, optimizing labor market efficiencies in real-time for companies, communities, and national economies. Leading enterprises use SkyHive’s cloud-based applications and platforms to power the future of work at its most granular level: skills. SkyHive’s Quantum Labor Analysis™ has been recognized by the World Economic Forum, Gartner, and Forbes for leading efforts in ethical AI and its positive impact on labor economies worldwide. For more information, visit www.SkyHive.ai.
About Deutsche Bank
Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific. For more information, visit www.db.com.
About Deutsche Bank Corporate Venture Capital
Deutsche Bank Corporate Venture Capital (CVC) is a cross-divisional & global activity to support startups and entrepreneurs. For more information, visit db.com.