For many years, proof of one’s knowledge and experience came in the form of a degree conferred by an institution of higher learning. While past generations may have worked in a given field from graduation until retirement, today’s employers require an unprecedented level of versatility from their talent. As technology continues to reshape the way we live, a capacity for lifelong learning is a must-have for today’s workforce, with career success increasingly dependent upon developing an evolving professional skill set to meet the needs of an ever-changing world.
With human resources departments in countless companies working to retain and develop the skills of their workforces, efficiently and accurately aligning employee skills with business needs becomes paramount. Companies such as Degreed, a California-based B2B upskilling platform, provide a way for both employers and employees to make the most of their capabilities. The platform enables HR managers to easily understand, build, and activate employee skills by helping them find learning, development, and internal mobility opportunities.
The company’s three core products—Skill Analytics, Learning Experience, and Career Mobility—provide a unified and easy to use skill-building experience powered by employee engagement and interests. Degreed Skill Analytics provides real-time insights on the supply and demand for skills at an organization; Learning Experience helps talent build the skills they need for both their current role and future opportunities; and Career Mobility can identify opportunities for internal mobility. All three core products work together to empower employers to make data-driven development decisions, helping to build a better performing, more adaptable workforce.
Such a powerful platform has not gone unnoticed by investors: the company announced the successful conclusion of an additional $153 million Series D funding round in April. Additionally, it announced that Dan Levin, former COO of Box, will succeed Chris McCarthy as CEO of Degreed.
“I am delighted to join the Degreed team. Chris and the entire company have done an amazing job delivering a service that over one-third of Fortune 50 companies use every day to retain, reskill and develop their most valuable employees. The workforce of the future will need to build and activate new skills continuously, and we are uniquely positioned to help them do just that,” said Levin.