TurboHire raises funding from Pentathlon Ventures, others
Recruitment platform TurboHire has raised $1 million in funding led by Pentathlon Ventures. The round also saw participation from Kia Ora Ventures and individual investors Monish Darda, Sanjay Balram, and Prabir Jha, among others.
The Hyderabad-based startup plans to use the capital raised for global expansion, improving the value proposition by building an ecosystem, and improving product offerings.
TurboHire CEO Deepak Agarwal 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 organisations to save more than 60 percent 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.”
Founded in 2018 TurboHires offers to its clients a new AI-based platform to revolutionise how organisations make hiring decisions.
Commenting on the investment, investor Prabhir Jha said, “As a senior Human Resource functionary, I have closely witnessed the evolution of the HR industry over the years. With increasing employment opportunities and a larger talent pool to select from, making the right hiring decisions faster is very critical for organisations today. AI and automation are definitely the next major drivers in the field. Over the past year, TurboHire has constantly featured among the most promising AI-based recruitment platforms and I am sure the funding will help it expand its operations globally as well as drive innovations.”
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