expressed opinion entrepreneur Contributors are their own.
You are reading Entrepreneur India, the international franchise of Entrepreneur Media.
TurboHire has raised $2 million in pre-Series A funding led by Mumbai Angels, The Pentathlon VC and The Chennai Angels. T-Fund, Purvansh Holdings, Hyderabad Angels and global strategic investors Samir Khosla and Francisco Arcilla also participated in the round. The recruitment automation platform focused on enabling smart recruitment plans to use the funds raised to further improve the automation of its products and expand its revenue contribution in global markets.
“When it comes to recruitment automation, we don’t focus on what others have done so far, but on redefining what’s possible. The team at TurboHire is working every day to create the future, and this round is a testament to investors’ believe TurboHire is building and leading the global recruitment automation software category,” said Deepak Agrawal, co-founder and CEO of TurboHire.
For TurboHire, this funding round is a timely boost to their growth and expansion plans. In a statement, the company claimed that it aims to maintain a 20% CMGR figure while growing its international business to 25% of its total revenue.
“As talent acquisition challenges become increasingly complex over time, AI automation is the way forward to ensure the correct and rapid placement of candidates for future profitability. We wish TurboHire great success as it works to leverage the new funding to drive its growth across geographies growth and impact,” Nandini Mansinghka, co-founder and CEO of Angels Mumbai.
Founded in 2006, Mumbai Angels Network is India’s premier private investment platform.