Visier Raises $125M at $1B Valuation

The Evolving Landscape of Workforce Management

Significant changes within the work environment over the past year have spurred the emergence of numerous startups. These companies are introducing innovative technologies and strategies designed to enhance how work is structured, and specifically, how human resources departments operate.

Visier Secures $125 Million in Series E Funding

Visier, a Canadian startup specializing in big-data analytics for HR, has recently completed a $125 million (USD) Series E funding round. This investment brings the company’s valuation to $1 billion, as confirmed by Visier.

Growth Driven by the Rise of Hybrid and Remote Work

This funding follows a period of substantial growth for the company. Organizations are increasingly focused on gaining a clearer understanding of team and individual performance in the context of evolving hybrid and remote work models.

A Broad Customer Base

Visier currently processes employee data for 8,000 customers, including prominent enterprises such as Adobe, BASF, Bridgestone, Electronic Arts, McKesson, Merck KGaA, and Uber. These clients represent a collective total of approximately 12 million users across 75 countries.

Investment Details

Goldman Sachs Asset Management acted as the sole investor in this funding round. Visier has previously received funding from investors including Sorenson Capital, Foundation Capital, Summit Partners, and Adams Street Partners, bringing its total funding to nearly $220 million.

Addressing Data Silos in HR Technology

According to co-founder and chairman John Schwarz, the core challenge Visier addresses is the fragmentation of HR data. Most organizations utilize an average of 20 different applications to manage employee information, leading to data silos and hindering a comprehensive “360” degree view.

A Big-Data Engine for Holistic Insights

Visier’s solution is a powerful big-data engine capable of connecting to various HR applications, ingesting their data, and providing visualizations of current trends. It also delivers increasingly predictive insights.

Expanding Applicability Beyond HR

While currently focused on HR departments, the platform’s capabilities extend to managers, finance teams, and even individual employees. The company aims to empower users to understand how current policies impact future outcomes.

The Trend of Specialized Data Analytics

The development of big-data analytics solutions tailored to specific organizational areas mirrors trends seen in departments like sales, finance, and risk analysis. This approach leverages data from diverse sources to identify broader trends and activities.

Democratization of Data Science

The increasing accessibility of data science, fueled by no-code and low-code tools, is likely to drive further adoption of this approach. These tools empower non-technical users to implement and utilize data analytics effectively.

A Competitive Landscape of HR Tools

Recent years have witnessed a surge in HR technology companies, attracting significant investment. Examples include platforms like Hibob, Personio, Factorial, Oyster, Remote, and ChartHop.

Visier’s Unique Position as a Data Integrator

Visier differentiates itself by focusing on data integration from existing platforms, rather than serving as a primary data repository. The company believes that custom implementations using tools like Tableau often lack the real-time analytical capabilities it provides.

Workday as a Complementary Tool

Schwarz highlights that over half of Visier’s customers also utilize Workday, suggesting that existing solutions may not fully address their analytical needs. Visier’s strength lies in its ability to leverage data from multiple sources.

Goldman Sachs’ Perspective

Holger Staude, managing director at Goldman Sachs Asset Management, stated, “Access to information about employees and the health of an organization has never been more critical.” He expressed excitement about partnering with Visier and supporting its continued growth.