TurboHire, an AI-powered recruitment automation platform has raised $2 million in a pre-series A round, which was co-led by Pentathlon Venture Capital and The Chennai Angels. Amongst the participants in the round were Telangana Fund, Purvansh Holdings, the Mumbai Angels and Hyderabad Angels, with Samir Khosla and Francisco Arcilla as global strategic investors.
The platform will also receive mentorship from industry experts such as Principal Secretary Industries and Commerce, IT – Telangana Government Jayesh Ranjan, BVR Mohan Reddy, founder and CEO, CYIENT; Taj Haslani, founder, ApTask; Leela Kaza, founder and CEO, Accolite; and N Maran, CEO, KaarTech for its global go-to-market strategies.
“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 to create 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,” says Deepak Agrawal, co-founder & CEO, TurboHire.
As per the firm, this round of funding will help them to springboard its growth and expansion plans. The Company will aim to maintain its compound monthly growth rate (CMGR) graph at 20 per cent, and also grow its international presence to 25 per cent of its total revenue.
“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,” says Hemant Joshi, co-founder and managing partner, Pentathlon VC.
This is T-Fund’s fifth investment and MSR, CEO, T-Fund is quite excited about investing in TurboHire. “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,” adds MSR.