Mumbai Angels and others join hands in funding USD 2 Mn Pre-Series A round in TurboHire, an intelligent recruitment automation platform

 

Mumbai Angels and others join hands in funding USD 2 Mn Pre-Series A round in TurboHire, an intelligent recruitment automation platform

TurboHire will utilize the funds for enhancing product automation and expanding global revenue   Mumbai October 11, 2022: Mumbai Angels, a premier platform for private investments, and others raised USD 2 Million in Pre-Series A round of funding for TurboHire. The investment was co-led by Pentathlon VC and The Chennai Angels, and also saw participation from T- Fund, Purvansh Holdings, Mumbai Angels and 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 fresh funds on improving its product automation further and scaling up its revenue contribution from global markets.

“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,” commented Nandini Mansinghka, Co-Founder and CEO of Mumbai Angels on the investment.

Deepak Agrawal, Co-Founder and CEO of TurboHire, while reiterating his focus on building growth for the future said, “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.”

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. Founded in 2019, TurboHire is the first of its kind recruitment automation platform that combines resume intelligence, recruitment automation, and workflows in an easy-to-use user interface. The tailor-made solution that focuses on ensuring maximum accuracy in candidate selection (98%), and reductions in the cost and time spent to hire to the tune of 65% and 78%, respectively, comes with 40+ pre-built integrations suitable for all hiring scenarios. With the current clientele base of 130+ companies globally, the startup is now bracing up for its next phase of growth. The startup was co-founded by Deepak Agrawal (CEO), Aman Gour (CRO), Abhishek Kabra (CTO), Gaurav Kumar (VP-Engineering), and Rakesh Nayak (VP-Engineering). The TurboHire leadership team constitutes domain experts, second-time entrepreneurs and alumni of the IITs, NIT, ISB, IIMs, SCMHRD, and XIMB. Headquartered in Hyderabad, India, the company's clients are spread across India, UK, USA, Sweden, Singapore, Australia, Indonesia, and more.

About Mumbai Angels Started in 2006, Mumbai Angels, India's premier platform for private investment holds an AUM of USD 130 Mn and a 200+ strong portfolio spanning a wide range of sectors, such as Technology, Consumer, Life Sciences, DefenseTech, SpaceTech, EV, AgriTech, FinTech, EdTech, Gaming and Content, etc. Of the overall portfolio, the platform has exited/secured the next round of funding for 100+ of them. The platform has 700 investors spread across 60+ Global and Indian cities.