TechWolf, a leading Belgian AI company, has successfully closed a $42.75 million (€39.8 million) Series B funding round, with notable participation from SAP, ServiceNow, and Workday. This significant investment will fuel the company’s expansion in the United States, where over half of its clientele is already based. In line with these plans, TechWolf will open a new office in New York City in September 2024, marking a key milestone in its US growth strategy. “This round of funding will accelerate our vision to make all work skills-based and help every person flourish at work”, said Andreas De Neve, co-founder and CEO of TechWolf.
Revolutionising HR with AI
The funding round was spearheaded by Felix Capital, joined by 20VC, Acadian Ventures, Fortino Capital Partners, Notion Capital, PMV, SAP, SemperVirens, ServiceNow Ventures, Stride.VC, Workday Ventures, and AI luminaries from DeepMind and Meta. “TechWolf is especially proud to bring together three world-class enterprise software companies — SAP, ServiceNow, and Workday — to invest in its vision”, said the company.
Julien Codorniou, Partner at Felix Capital, emphasised the transformative potential of TechWolf’s AI-driven solutions. “We have devoted significant resources to exploring the impact of AI on HR. TechWolf’s capability to turn clients into fully-fledged ‘skills-based organizations’ is impressive. This transformation fosters flexibility, innovation, and employee engagement, optimizing talent utilization and promoting continuous learning. We are thrilled to lead this funding round to accelerate TechWolf’s expansion, especially in the US and enterprise sector.”
Innovative skills-based approach
Founded in 2018 by Andreas De Neve, Jeroen Van Hautte, and Mikaël Wornoo, TechWolf builds AI infrastructure for skills, creating foundational data assets and frameworks that enable a skills-first approach to talent management. The technology infers employee skills from digital interactions using advanced AI language models, eliminating the need for manual skills assessments. This approach enhances the capabilities of market leaders like Workday and SAP by providing high-quality skills and skill gap data to the HR landscape.
“This round of funding will accelerate our vision to make all work skills-based and help every person flourish at work.”
“TechWolf’s task-optimised AI models set new standards, outperforming leading benchmarks at a fraction of the runtime cost”, said Andreas De Neve, co-founder and CEO of TechWolf. “We are grateful for the support and trust from our investors — this round of funding will accelerate our vision to make all work skills-based and help every person flourish at work.”
Global ambitions and rapid growth
Despite being based in Belgium, TechWolf’s client base is predominantly in the US, including prominent companies like United Airlines, MetLife, IQVIA, and Synopsys. Since its previous funding round two years ago, TechWolf has experienced a twelvefold increase in revenue. The new funds will support further expansion in the US and continued investment in AI development.
Since its previous funding round two years ago, TechWolf has experienced a twelvefold increase in revenue.
The New York office will be led by co-founder Mikaël Wornoo, who will relocate along with a team of five employees. “We are excited to expand our presence in the US and continue to drive innovation in AI for HR,” said Wornoo.
Leadership and future Plans
Adding to its robust leadership, TechWolf has appointed Diane Gherson, former Chief HR Officer at IBM and current board member of Kraft Heinz, to its Board of Directors as an independent director. Gherson brings a wealth of HR expertise and a passion for building skills-based organizations. “I am passionate about the need for companies to build skills-based organizations to compete in the digital economy, which requires a robust and dynamic skills infrastructure,” Gherson commented.
The company has also increased its employee stock option pool from 10% to 15%, reinforcing its commitment to its team.
In addition, TechWolf’s investors have committed 3% of all shares to the TechWolf Foundation, supporting underrepresented founders and promoting women in STEM. The company has also increased its employee stock option pool from 10% to 15%, reinforcing its commitment to its team.
