The Company aims to help organisations optimise their workforce and acquire talent.
EdGE Network, an artificial intelligence or AI-driven HR tech startup, has raised $4.5 million in Series A funding, from Kalaari Capital and Ventureast.
The startup uses AI and data science to solve talent acquisition and workforce optimisation challenges faced by large and mid-sized organisations at a cost-effective price, giving maximum benefit to its clients.
The fund raised will be used for strengthening its core product offering for workforce optimisation and talent acquisition.
The company plans to develop new products with data science-driven innovation across talent transformation and workforce planning. These products will help organisations be prepared for the future of work and continuously upgrade their manpower.
In the next phase of growth, the Company’s focus will be on geographical and vertical expansion.
Arjun Pratap, founder and CEO of EdGE Networks said, “In the wake of this funding, we are looking at strengthening our workforce planning solutions, with increased focus on not just descriptive but prescriptive support. The predictive side of such solutions will help organisations future proof their workforce, helping them make better talent decisions.”
“Secondly, we’re focussing on talent transformation and career progression, by helping like-minded people connect and learn from each other. With these we aim to help organisations optimise their workforce well.”
The startup has already served customers, such as Wipro, HCL, Virtusa, and so on. It has won several awards including the India Emerging (IE20) 2017 and Deloitte Technology Fast 50 India 2016. It also featured in the NASSCOM Emerge 2016 Awards’ top 50 emerging startup list in India. Google had selected the Company for its 2017 Launchpad Accelerator programme in San Francisco.
Commenting on the investment, Sumit Jain, partner at Kalaari Capital, said “AI-driven solutions are fast taking main-stage in solving real problems faced by enterprises and opening up opportunities for step changes in business processes and cost innovations. EdGE Networks is at the forefront of AI-led HR innovation, and we are excited to partner with them in their journey. Arjun and his team bring a rare combination of technology excellence, business innovation and enterprise experience, and we wish them great success in the years to come,”.
Siddhartha Das, general partner at Ventureast, said “Workforce optimisation and right talent acquisition are critical for success in an increasingly tech-driven environment. The team at EdGE are building an AI- driven solution to address the future challenges in HR management. We are happy to become a part of their growth and success story through this investment”.
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