TurboHire Raises $2 Million In Pre-Series A Funding Round The fund raised will be used for improving product automation and scaling up the revenue contribution from global markets
By Teena Jose •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
TurboHire has raised $2 million in pre-Series A funding round led by Mumbai Angels, The Pentathlon VC and The Chennai Angels. The round also saw participation from T- Fund, Purvansh Holdings, Hyderabad Angels, and global strategic investors Samir Khosla and Francisco Arcilla. The recruitment automation platform that is focused on enabling intelligent hiring is slated to use the fund raised on improving its product automation further and scaling up its revenue contribution from global markets.
"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's possible. The team at TurboHire works every day on creating the future and this round is a testament to the investors' belief that TurboHire is on its way to build and lead the recruitment automation software category, globally," Deepak Agrawal, co-founder and CEO, TurboHire.
For TurboHire, this round of funding comes as a timely push to springboard their growth and expansion plans. The company aims to maintain a 20 per cent CMGR graph while also growing its international presence to 25 per cent of its total revenue, claimed by the company in a statement.
"With talent recruitment challenges compounding with time, AI automation is the way forward for ensuring the right and speedy placement of candidates for future profitability. We wish TurboHire great success as it endeavors to advance its growth and impact across geographies with fresh funds," Nandini Mansinghka, co-founder and CEO, Mumbai Angels.
Founded in 2006, Mumbai Angels Network is India's premier platform for private investments.
