Fountain Forays Into Indian Market, Raises $100 Million In Series C Funding
The latest funding has brought its total raised investment to $185 million
Fountain, a high-volume hiring platform, has forayed into the Indian market post its Series C funding round of $100 million, bringing the total funding to $185 million. The extension was led by B Capital Group, joined by SoftBank, Mirae Asset Venture Investment, DCM, Origin Ventures, Commerce Ventures, SemperVirens Venture Capital, Uncork Capital and others.
Fountain's recent funding will fuel its vision of global expansion by allowing the company to enhance automated sourcing, candidate experience, insights and analytics and efficient recruiting tools, said a statement.
While strengthening its presence globally, the all-in-one hiring platform will now enable companies to find and hire the right people faster in India, where the majority of the 500 million workforce is composed of blue- and gray-collar workers and is underserved when it comes to technology-forward hiring, added the statement.
Fountain aims to help companies tackle challenges like manual outreach activities, messy spreadsheets and disorganized data that come with the traditional recruitment process. It plans to invest a significant amount of its capital into high-volume hiring in India, including the development of an AI/NLP-enabled chatbot, messaging and automation-related products, claimed the company.
Fountain is currently in the process of setting up a remote-first Center of Excellence (CoE) based in India, with functions such as R&D, support and operations, sales, and marketing. This CoE is aimed at supporting the comapny's efforts across the country and make it more feasible to scale in real-time.
"We at Fountain are determined to support the Indian market for blue and gray collar work. We will cater to leading companies and meet their needs of high volume hiring by not only enabling the enterprises to locate the right individuals for seamless recruiting but also helping candidates apply from their phones at any time and from any location," says Om Prakash Muppirala, VP of engineering and head of Fountain India.
"We are excited to serve the Indian market in the high volume hiring space. Hiring is a global challenge not only for businesses, but for applicants as well, and Fountain is determined to address it from both angles. Finding a job should be easy for anyone, and with this additional funding, Fountain can continue to positively impact the global workforce from end to end," says Sean Behr, CEO of Fountain.