Hyderabad-based recruitment platform TurboHire has raised $I Mn in seed funding with a series of institutional and individual investors investing in the startup. The investment round is led by Pentathlon Ventures. The other participants include Kia Ora Ventures as well as individual investors Monish Darda, Sanjay Balram, and Prabir Jha among others.
Deepak Agrawal, CEO at TurboHire stated, “At TurboHire, we have created a platform that deeply understands human requirements but acts with the speed and precision of a machine. It uses deep tech as well as data science to provide greater insight to recruiters and allows organizations to save more than 60% in Time to Hire and Cost of Hire. We have grown at a tremendous pace in the past two years and we are now working on enhancing user experience in the self-service model. COVID 19 and its effects on the job market have served to augment the demand for faster recruitment tools and we are looking at a significant growth globally over the coming years.”
The seed capital of $1M will be utilized for taking TurboHire to global markets, improving the value proposition by building an ecosystem and deepening the intelligence with automated interviews.