retrain.ai closes $13M to use AI for early signals in the changing jobs market
Retrain.ai, an Israeli company that utilizes AI and machine learning to analyze job boards and gain insights into the job market, has closed a $9 million Series A funding round led by Square Peg. This brings their total funding to $13 million, including a previously unannounced $4 million seed round. Competitors in this space include Pymetrics, which has raised $56.6 million, and Eightfold.ai, which has raised $176.8 million.
Retrain.ai has also secured its first deal with the Israeli Department of Labor to examine the changing dynamics of the Israeli job market in light of the pandemic. The company's platform can analyze job advertisements, track job popularity trends, and identify emerging job opportunities. This information can be used by large organizations and governments to shape policies.
The CEO of retrain.ai is Dr. Shay David, known for co-founding Kaltura, a video enterprise company. Isabelle Bichler-Eliasaf serves as the company's COO, and Avi Simon is the CTO.
Dr. Shay David emphasized the significant impact of COVID-19 on the labor market and the need to address unemployment and underemployment globally. The company aims to assist 10 million workers in finding the right jobs by 2025 and help organizations navigate the evolving job market efficiently.
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