Image source: OneModelA Queenslander-founded startup helping global brands integrate AI to manage their workforces will accelerate their product development roadmap following a US$41 million Series B round led by Riverwood Capital alongside QIC, AV8 and Geekdom.
One Model’s platform is built around the vision of business leaders seamlessly interacting with workforce data to unlock value in their people and organisations.
The increasing adoption of automation and digitisation of HR operations to create agile and effective approaches is expected to drive the market size to US$16.4Bn by 2025.
QIC Private Equity Investment Director Nick Capell said an investment from the $100 million Business Investment Fund will support One Model to grow their local engineering and product development teams.
“As businesses around the world continue to seek better insights into employee engagement and output, One Model’s extraction and analytical capabilities offer the perfect solution for synthesising data across a wide range of siloed HRIS platforms,” Mr Capell said.
“With a demonstrated ability to continuously develop its product suite to expand their customer value proposition, the team is primed for accelerated growth with a pipeline of opportunities.
“We are excited to be a part of the next stage of One Model’s growth alongside Riverwood Capital, AV8 and Geekdom and to be the first Australian VC investor to partner with Chris, David, Matt and the rest of the team.
“To see them position the Brisbane office as the heart of their engineering functions is testament to the talent pool here.”
CEO and founder Chris Butler said One Model’s success wouldn't have been possible without their commitment to Queensland-based engineering and operations talent.
“As early as 2015, we invested heavily in our Brisbane-based research, development, and engineering operation and have considerably expanded our investments since then," Mr Butler said.
"That commitment to Queensland-based talent is the reason One Model can offer a world-class technology platform that is winning accolades in the global market.
“One Model’s people analytics product roadmap will be expanded to solve problems for a diverse array of data science, analyst, people manager and C-level audiences, delivering tailored content proactively through alerts, notifications and individualized reporting.”
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