Spottabl Raises Seed Round Spottabl will utilize the funds towards building a scalable self-serve product and start growth initiatives for capturing recruiter agency supply
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
SaaS-enabled full-stack hiring platform Spottabl on Tuesday announced that it has raised a seed round of INR 3.5 crore. The round saw participation from Paradigm Shift VC, Binny Bansal, Cofounder of Flipkart and xto10x, LetsVenture, and few former top Executives from Flipkart like Mekin Maheshwari, Founder Udhyam.org, Rishi Vasudev, co-founder G.O.A.T Brand Labs, Anil Goteti co-founder Protonn, and Nishant Verman co-founder Bzaar. The company was bootstrapped prior to raising its maiden seed round recently.
Spottabl will utilize the funds towards building a scalable self-serve product and start growth initiatives for capturing recruiter agency supply.
"Having worked closely with founders and business leaders for several years, we realized one major pain point persisted. Getting the right talent hired in an efficient and faster way continues to be unsolved. Companies continued to struggle with age-old traditional methods leading to increased hiring frictions. We saw this as an opportunity to solve through an intelligent platform that is powered by personalized hiring solutions. Our on-demand recruiter platform takes the end-to-end ownership to ensure hiring success for each of our customers," said Vanishri Deshpande, co-founder and chief executive officer, Spottabl.
More than 100,000 fast-growing tech companies and enterprises are looking to hire top talent quickly for which they access specialized recruiters and agencies that recruit globally - the entire hiring chain is currently in an unorganized state. With the rapidly growing talent demand in the ecosystem, companies are looking for intelligent and scalable solutions to engage and hire the top talent catering to their jobs.
"Spottabl is solving one of the most important challenges prevalent in the startup ecosystem globally - hiring top talent. This problem can be best solved innovatively by those who are well acclimatised with the nuances of hiring in today's startup ecosystem, and industry veterans like Vani, Satheesh and Anupam are best suited for this," shared Govind Mundhra, founding general partner, Paradigm Shift VC.
A massive number of independent specialist recruiters and small agencies are unorganized and fragmented. Spottabl brings them all together on a single platform. This helps companies get their hiring needs fulfilled in a short time with the help of specialized on-demand recruiters. This moreover enables small and medium-sized offline agencies to get digitized and get business opportunities, efficiently recruit on the platform, and increase their earning potential.
With its self-serve product built recently, Spottabl registered threefold quarterly growth for the period of 6 months and has seen a fivefold growth in Recruiters Community in 2021 with about 40 per cent of the recruiters and boutique agencies making significant gig earnings through Spottabl is currently serving over 250 open positions of high-growth companies with a talent pool provided by a community of over 600 specialized recruiters.
"What I love about Spottabl is the amazing team, and the sharp focus towards building a marketplace for recruiters and founders, creating efficiency in an otherwise tough market. This intersection is a model that could go on to disrupt the hiring vertical," commneted Shanti Mohan, chief executive officer and co-founder, LetsVenture.
In addition to the fundraising, Spottabl will look to maximize its customer base in startups and booming enterprises in India, North America, and South-East Asia in the next few months. Spottabl also aims to build a large community of specialist recruiters; organizing and digitizing end-to-end agency recruitment to match up with the massive hiring by world-class companies.
"Finding and hiring the right talent is a crucial factor in a startup's journey, especially for those looking at scaling rapidly. As we see massive shifts in the workforce trends, Founders and HR leaders need to rethink strategies to attract, hire and retain top talent. With its AI-powered talent sourcing technology, Spottabl is making talent discovery and recruitment smarter, faster, and seamless. Intelligent and personalized talent acquisition is the way forward," added Binny Bansal, co-founder, Flipkart and xto10x.
Spottabl's model promises to bring efficiency to the entire hiring cycle across talent discovery stages to a successful hire. The SaaS platform aims at making access to these on-demand recruiters efficient. Spottabl recently launched self-serve features and subscription-driven discounted hiring models on the platform.
