Elevatus, a Riyadh, Saudi Arabia-based technology company with industry-leading video interviewing and recruitment software for the HR sector, completed $10.5 million in Series A funding.
The round was co-led by Global Ventures—a leading MEA-focused venture capital firm, and Wa’ed Ventures, the venture capital arm of Aramco, with participation from otf Jasoor Ventures.
With this capital injection, the HR tech provider aims to accelerate its business expansion and expand its market share. It also strives to broaden its reach by entering new markets, investing in product innovation, and propelling the advancement of HR tech.
Since it started doing business more than three years ago, Elevatus has assisted businesses in hiring thousands of applicants and conducting more than 3 million video interviews worldwide. Over a three-year period, it also increased the accuracy of its AI algorithm from 65% to 94%. Elevatus has also tripled the number of employees it has.
Yara Burgan, Co-founder and CEO of Elevatus, said: “Our team of high-calibre talent is shaping the future of HR. From day one, we were confident that Elevatus would exponentially succeed and reach even bigger heights. We took great strides in identifying client needs and adapting to the marketplace. Elevatus is meeting those needs head on; through our best-of-breed AI solutions that offer the right level of scalability, innovation, and agility – to help us accommodate and grow.”
Company: Elevatus, Inc.
Raised: $10.5M
Round: Series A
Funding Month: September 2022
Lead Investors: Global Ventures and Wa’ed Ventures
Additional Investors: otf Jasoor Ventures
Company Website: https://www.elevatus.io/
Software Category: Hiring and Video Interviewing Software
About the Company: Launched in 2019 and led by co-founders Yara Burgan, Yacoub Zureikat, and Yanal Kashou, Elevatus is an all-in-one hiring platform and video interviewing software that meets all hiring needs. Elevatus is a holistic SaaS solution that offers two core AI-powered solutions; an award-winning hiring platform, EVA-REC, and video interviewing software. Powered by AI and cutting-edge technology, Elevatus enables companies of all sizes and shapes to hire at scale—and find the right people for every job. Elevatus has rapidly become the go-to solution for over 150 companies, including blue-chip brands such as Samsung, RE/MAX, Omantel, Arab Bank, Dr Suleiman Al-Habib Medical Group, Virgin Mobile, King Abdullah University of Science & Technology, and STC Academy. It has also integrated its technology with world-class technology providers such as SAP, Oracle, Zoom, Slack, DocuSign, Google Meet, Glassdoor, Indeed, and more.
Source: http://www.tradearabia.com/news/BANK_400977.html