Funding Led By Goldman Sachs Asset Management Highlights the Market Demand for Improved People Data
Visier, the globally recognized leader in people analytics and planning, announced it has raised $125M in Series E funding led by Goldman Sachs Asset Management (Goldman Sachs) at a valuation exceeding $1B USD. This investment signals a historic moment in the growth of the people analytics market, with Visier becoming the first independent vendor in the space to reach a $1 billion valuation.
“There is unprecedented demand for companies to better understand the people within their organizations,” said Ryan Wong, CEO of Visier. “From HR leaders to people managers and executives, having insight into a workforce is critical for delivering the right outcomes for the business, the employee, the customer, and a fair and just society.”
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“The partnership with Goldman Sachs on the next phase of Visier’s growth underscores the fact that people analytics has become mainstream business practice,” said John Schwarz, Co-Founder and Chairman of Visier. “This investment is key to establishing Visier as the independent global cloud platform for people related business insights.”
Companies are in the midst of a swift and massive transformation due to the increased demand placed on organizations to better know, care for, and support their employees, while also driving the best possible performance for the business. From SEC regulations requiring more data and transparency on diversity, equity and inclusion to the rapid shift to a remote workforce brought on by the pandemic, the need for people analytics has never been more pressing.
“Access to information about employees and the health of an organization has never been more critical,” said Holger Staude, managing director within Goldman Sachs Asset Management. “We’re excited to partner with Visier at this pivotal moment and support the company’s continued growth.”
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To spearhead this new era of people analytics, Visier will use the funding to extend and accelerate product development and international go to market expansion.
This funding announcement comes after a landmark quarter for Visier. The company recently announced passing the 8,000 customer mark, along with signing embedded partnership agreements with Cegid, PeopleFluent and Degreed. As of 2021, Visier processes over 12 million employee records in 75 countries around the world, with enterprise customers that include Adobe, BASF, Bridgestone, Electronic Arts, McKesson, Merck KGaA, Uber and more.
Visier has previously raised $94.5M USD in four funding rounds, bringing the company’s total funding to $219.5M. Goldman Sachs joins existing investors Sorenson Capital, Foundation Capital, Summit Partners, and Adams Street Partners.
With this investment, Visier joins an elite list of HR technology providers to have raised more than $100M in a single funding round; the Vancouver-based company also joins the exclusive ranks of Canadian unicorns like Clio, Wealthsimple, Thinkific, Trulioo and more.
LionTree Advisors served as financial advisor and Morgan, Lewis & Bockius LLP served as legal advisor to Visier. Sidley Austin LLP served as legal advisor to Goldman Sachs.
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