TurboHire, a Hyderabad, India-based AI recruitment startup, secured $2 million in pre-Series A funding.
The round was co-led by Pentathlon Venture Capital and The Chennai Angels, with participation from Telangana Fund, Purvansh Holdings, and Mumbai and Hyderabad Angels, with Samir Khosla and Francisco Arcilla as global strategic investors.
TurboHire plans to use the proceeds to ramp up product automation and boost its global revenue.
“When it comes to recruitment automation, we do not focus on what has been done by others so far, rather we focus on redefining what is possible. The team at TurboHire works every day on creating the future and this round is testament to the investors' belief that it is on its way to build and lead the recruitment automation software category globally,” Deepak Agrawal, Co-founder, and CEO of TurboHire, said.
The company aims to maintain a 20% CMGR graph while also growing its international presence to 25% of its total revenue.
Company: TurboHire Technologies Private Limited
Raised: $2.0M
Round: pre-Series A
Funding Month: September 2022
Lead Investors: Pentathlon Venture Capital and The Chennai Angels
Additional Investors: Telangana Fund, Purvansh Holdings, Samir Khosla, and Francisco Arcilla
Company Website: https://turbohire.co/
Software Category: Recruitment Automation Solution
About the Company: Founded by Deepak Agarwal, Aman Gour, Abhishek Kabra, Gaurav Kumar, and Rakesh Nayak in 2019, TurboHire is an end-to-end recruitment automation platform that is easy to use and provides configurable solutions, enabling recruiters to streamline their hiring process. The TurboHire platform enables intelligent and on-the-go decisions among candidates, recruiters, interviewers, and approvers, reducing cost-to-hire by 65% and time-to-hire by 78%. Powered by augmented intelligence, TurboHire empowers its users with 50+ features such as Resume Parsing, Candidate Ranking, Chatbot Assessments, Finding Similar Candidates, Automated Job Recommendations, and so on.
Source: https://www.vccircle.com/aibacked-recruitment-firm-turbohire-pockets-pre-series-a-funding