ImpactAlpha, September 12 – Boston-based Burning Glass is a software company that identifies labor market patterns and sell those insights to companies and educators. KKR has invested an undisclosed amount for a majority stake in the company as part of its Global Impact strategy.
Burning Glass analyzes “hundreds of millions of job postings and real-life career transitions,” which shed light on issues like the aging workforce and looming skills gap in the infrastructure sector, or how employers’ interest in LGBTQ diversity has skyrocketed in recent years. The company says education clients use Burning Glass to identify new course and curriculum offerings and companies use it to anticipate talent needs.
“Predicting tomorrow’s jobs, and the skills needed for those jobs, will empower workers to navigate [the technology] disruption, companies to up-skill their workforce, and policymakers to promote economic growth,” said KKR Global Impact’s Ken Mehlman of the investment.
KKR recently passed a $1 billion fundraising goal for its impact fund. Its investments range across the labor sector (Burning Glass) to energy efficiency (Barghest Building Performance) and waste management (Ramky Enviro Engineers).