TurboHire Raises $2 Million In Pre-Series A Funding
The fund raised will be utilized to improve product automation and scale up revenue globally
TurboHire, an AI-powered recruitment automation platform, has raised $2 million in a pre-Series A funding round co-led by Pentathlon Venture Capital and The Chennai Angels. The round also saw participation from the Telangana Fund, Purvansh Holdings, the Mumbai Angels and Hyderabad Angels, along with Samir Khosla and Francisco Arcilla as global strategic investors. The fund raised will be utilized to improve product automation and scale up revenue globally.
"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 everyday on creating the future and this round is testament to the investors' belief that TurboHire is on its way to build and lead the recruitment automation software category, globally," said Deepak Agrawal, co-founder and CEO, TurboHire.
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. It has clients globally including India, UK, USA, Sweden, Singapore, Australia, Indonesia, and more, claimed by the company in a statement.
"TurboHire has proven that it is a fast growing company in the automation sector. With this round, they are well on their way to building the category of recruitment automation, while catering to global markets. Since launching in 2019, they have always kept their international presence, specifically APAC, as a goal, and this round is further proof that they will get there soon. We are excited to partner with them once again in this round," said Hemant Joshi, co-founder and managing partner, Pentathlon VC.
Founded in 2019 by Deepak Agarwal, Aman Gour, Abhishek Kabra, Gaurav Kumar, and Rakesh Nayak, TurboHire is an AI-powered recruitment automation platform that enables intelligent and on-the-go decisions among candidates, recruiters, interviewer and approvers reducing cost-to-hire by 65 per cent and time-to-hire by 78 per cent.