Knoetic lands $36M to unify diverse sources of HR data

In the last decade, so-called chief people officers (CPO) have seen a dramatic expansion of their day-to-day responsibilities. The role has evolved from an administrative HR

function to a more strategic position, particularly as the pandemic has shined a spotlight on the importance of retention, upskilling and recruiting during a crisis. But despite

the increased interest — the CPO is the third-fastest growing C-level position, according to LinkedIn — CPOs are often behind sales, marketing and customer execs in terms of their

approaches to analyzing data. Aiming to affect change, entrepreneur Joseph Quan founded Knoetic, a platform designed to provide insights on metrics like attrition,

diversity and headcount growth. Knoetic integrates with HR systems to allow CPOs to run analyses and automatically generate reports, and it also delivers recommendations like how

to improve employee retention if the platform identifies an issue with turnover. Knoetic today raised $36 million in a Series B round led by EQT Ventures with participation

from Accel and Menlo Ventures. More than 200 angel investors contributed, including CPOs from Bill.com, Zapier, Box and Calm. “We’re not building an analytics tool or

another tired community — we’re building a second brain, a cybernetic augmentation that gives CPOs superpowers … We envision ourselves akin to Salesforce building the first, early

cloud customer relationship management system,” Quan told TechCrunch via email, framing Knoetic’s mission in decidedly aggrandized terms. “[We’re] continuing to educate every CPO

that they need data and analytics to earn respect as a next generation people leader.”