Funds will be utilized to improve product automation and scale up revenue globally
TurboHire, an AI-powered recruitment automation platform, has announced raising USD 2 Million in a Pre-Series A round co-led by Pentathlon Venture Capital and The Chennai Angels; and participated by the Telangana Fund, Purvansh Holdings, and the Mumbai Angels and Hyderabad Angels, with Samir Khosla and Francisco Arcilla as global strategic investors. Apart from the funding, TurboHire will also receive mentorship from industry stalwarts such as Jayesh Ranjan (Principal Secretary Industries and Commerce, IT – Telangana Government), BVR Mohan Reddy (Founder and CEO, CYIENT), Taj Haslani (Founder, ApTask), Leela Kaza (Founder and CEO, Accolite), and N Maran (CEO, KaarTech) for the company’s global go-to-market strategies.
Founded in 2019, 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% and time-to-hire by 78%. TurboHire’s combination of Augmented Intelligence and Automation makes attracting, screening, interviewing and onboarding best talent for a position easy, transparent, and regulation compliant at a global scale. Companies using any HRMS or HCM system can have TurboHire seamlessly integrate into their existing platform to introduce intelligent automation for their recruitment process.
Commenting on the fund raise, Deepak Agrawal (Co-founder and CEO) says, “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.”
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% CMGR graph while also growing its international presence to 25% of its total revenue. In line with this investment, Hemant Joshi (Co-Founder and Managing Partner, Pentathlon VC) said, “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.”
TurboHire is the 5th investment by T-Fund. On this, MSR (CEO of T-Hub), said, “T-Fund is thrilled to be co-investing in TurboHire and joining the growth journey as they completely automate the HR process to enhance the recruiting experience. In addition, their diverse leadership team driving a novel product in the industry through their persistent quest for innovation will be a game changer in the coming years, and we wish them the best.
