Belgian AI company TechWolf, founded in 2018 by three university friends, has recently secured $40 million in funding. The company specializes in helping businesses understand the skill sets of their employees using large language models. By working with companies like United Airlines and Workday, TechWolf aims to assist employers in better managing and identifying their staff’s skills and skills gaps.
Andreas de Neve, the cofounder and CEO of TechWolf, noted that when the company was first established, they discovered that large enterprises lacked visibility on their employees’ capabilities and had no efficient way to account for them. This resulted in biases in decision-making processes. With the help of TechWolf’s AI technology, companies can now make better judgments on how to effectively deploy staff and resources based on their skill sets.
TechWolf operates on a SaaS model where companies are charged per employee. The company primarily targets blue-chip corporates and has recently raised Series B funding totaling $40 million. The round was led by Felix Capital with participation from several other venture capital firms including 20VC, Acadian Ventures, and Workday Ventures.
The new funding will enable TechWolf to expand its presence in the US market. Despite facing challenges in a tough market environment, the company has shown significant growth with a 12x increase in revenue since the last round. With the additional funding, TechWolf plans to grow its team in the US and take advantage of the opportunity to scale its operations with a longer runway.
Overall, TechWolf’s innovative approach to skill identification and workforce management has garnered significant interest from investors and customers alike. The company’s focus on leveraging AI technology to address critical business challenges positions them well for further growth and success in the future.
